Rafferty Asset Management LLC Boosts Stake in UMB Financial Co. (NASDAQ:UMBF)
Rafferty Asset Management LLC Increases Stake in UMB Financial Co. (NASDAQ:UMBF)
Rafferty Asset Management LLC has recently boosted its stake in UMB Financial Co. (NASDAQ:UMBF) by 23.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor now owns 70,896 shares of the bank’s stock after acquiring an additional 13,427 shares during the quarter, with a total worth of $5,923,000.
This increase in stake is part of a trend among institutional investors and hedge funds, with several others also adding to their positions in UMBF. Allspring Global Investments Holdings LLC, Victory Capital Management Inc., Massachusetts Financial Services Co. MA, Wellington Management Group LLP, and UBS Group AG have all seen growth in their holdings of UMB Financial.
In related news, insider transactions at UMB Financial have also been making headlines. Insider Abigail M. Wendel and CEO J Mariner Kemper have both recently sold shares of the company’s stock, with Wendel selling 1,182 shares and Kemper selling 1,440 shares.
Analysts have set new price targets for UMB Financial, with several research firms issuing reports on the company. StockNews.com, Wells Fargo & Company, Barclays, and Keefe, Bruyette & Woods have all provided ratings and price targets for UMBF, with a consensus rating of “Moderate Buy” and an average target price of $92.83.
UMB Financial stock is currently trading up 0.3%, with a market capitalization of $3.95 billion. The company recently reported quarterly earnings that exceeded analysts’ expectations, with a net margin of 14.59% and a return on equity of 14.30%.
Additionally, UMB Financial has announced a quarterly dividend, with shareholders set to receive $0.39 per share on July 1st. The ex-dividend date is June 10th, with an annualized dividend yield of 1.93%.
UMB Financial Corporation operates as a bank holding company that provides banking services and asset servicing in the United States and internationally. The company’s Commercial Banking segment offers a range of commercial loans, credit cards, real estate financing, and treasury management services.
Overall, UMB Financial continues to attract attention from investors, analysts, and insiders alike, with a positive outlook for the company’s future performance.
