Parallel Advisors LLC reduced its stake in the shares of UMB Financial Co. (NASDAQ: UMBF – Get a rating) by 36.9% during the first quarter, HoldingsChannel reports. The company held 405 shares of the bank after selling 237 shares during the period. Parallel Advisors LLC’s holdings in UMB Financial were worth $40,000 when it last filed with the SEC.
A number of other hedge funds and other institutional investors have also recently changed their holdings in UMBF. Lazard Asset Management LLC increased its stake in UMB Financial shares by 84.6% during the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the bank worth $54,000 after buying 236 more shares last quarter. CWM LLC acquired a new position in shares of UMB Financial during the first quarter worth approximately $54,000. US Asset Management LLC acquired a new position in shares of UMB Financial during the first quarter worth approximately $125,000. Pinebridge Investments LP acquired a new position in shares of UMB Financial during the fourth quarter worth approximately $149,000. Finally, Cim Investment Management Inc. purchased a new stake in UMB Financial stock during the fourth quarter worth approximately $210,000. Institutional investors and hedge funds hold 87.26% of the company’s shares.
A Wall Street analyst gives his opinion
UMBF has been the subject of several recent analyst reports. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a Sunday May 1 research rating. Wells Fargo & Company cut its price target on UMB Financial from $110.00 to $100.00 in a Thursday, April 28 research note. Finally, Raymond James cut his price target on UMB Financial from $113.00 to $108.00 and set an “outperform” rating on the stock in a Thursday July 7 research note.
UMB Financial Trading down 0.4%
NASDAQ: UMBF opened at $89.75 on Friday. The company has a debt ratio of 0.10, a quick ratio of 0.69 and a current ratio of 0.69. UMB Financial Co. has a one-year low of $81.57 and a one-year high of $112.24. The company’s 50-day simple moving average is $88.18 and its 200-day simple moving average is $95.22. The stock has a market capitalization of $4.34 billion, a price-earnings ratio of 11.95 and a beta of 0.92.
UMB Financial (NASDAQ: UMBF – Get a rating) last reported quarterly earnings data on Tuesday, April 26. The bank reported earnings per share (EPS) of $2.17 for the quarter, beating the consensus estimate of $1.65 by $0.52. UMB Financial achieved a return on equity of 12.16% and a net margin of 26.95%. The company posted revenue of $340.43 million for the quarter, compared to $332.57 million expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $1.91. As a group, sell-side analysts expect UMB Financial Co. to post earnings per share of 8.21 for the current fiscal year.
UMB Financial announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Friday, June 10 received a dividend of $0.37 per share. This represents an annualized dividend of $1.48 and a yield of 1.65%. The ex-dividend date was Thursday, June 9. UMB Financial’s payout ratio is currently 19.71%.
UMB Financial Company Profile
UMB Financial Corporation operates as a bank holding company for UMB bank which provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit cards; commercial real estate financing; letter of credit; loan syndication and advisory service; various business solutions, including asset-based lending, accounts receivable financing, mezzanine debt and minority equity investments; and cash management service, such as deposit service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic funds transfer and automated payment, controlled disbursement, vault service and input service remote filing.
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