Cornercap Investment Counsel Inc. Has $325,000 Position in UMB Financial Co. (NASDAQ:UMBF)

Cornercap Investment Counsel Inc. cut its stake in UMB Financial Co. (NASDAQ:UMBF) by 60.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,091 shares of the bank’s stock after selling 4,650 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in UMB Financial were worth $325,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Wedge Capital Management L L P NC bought a new position in UMB Financial in the 2nd quarter valued at about $3,808,000. Vanguard Group Inc. lifted its position in shares of UMB Financial by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after purchasing an additional 394,578 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of UMB Financial by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock valued at $140,968,000 after acquiring an additional 100,000 shares in the last quarter. Interval Partners LP bought a new stake in UMB Financial during the 2nd quarter valued at $3,286,000. Finally, Quest Partners LLC boosted its holdings in UMB Financial by 144.1% during the 2nd quarter. Quest Partners LLC now owns 17,784 shares of the bank’s stock worth $1,484,000 after acquiring an additional 10,498 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on UMBF shares. Barclays upped their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Piper Sandler upped their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their price target on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Citigroup started coverage on UMB Financial in a research note on Thursday, October 10th. They set a “buy” rating and a $127.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.00.

UMB Financial Trading Down 1.1 %

Shares of NASDAQ UMBF opened at $121.49 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $5.93 billion, a P/E ratio of 15.19 and a beta of 0.78. UMB Financial Co. has a 1-year low of $69.96 and a 1-year high of $128.73. The business has a fifty day moving average price of $108.82 and a 200 day moving average price of $95.95.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The firm had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same period last year, the company earned $2.02 earnings per share. Equities research analysts expect that UMB Financial Co. will post 9.33 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a $0.40 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s payout ratio is currently 19.50%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, EVP John Pauls sold 849 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $110.42, for a total transaction of $93,746.58. Following the completion of the sale, the executive vice president now directly owns 6,483 shares of the company’s stock, valued at $715,852.86. This represents a 11.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg M. Graves bought 258 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $109.29 per share, with a total value of $28,196.82. Following the completion of the purchase, the director now owns 36,244 shares in the company, valued at approximately $3,961,106.76. This represents a 0.72 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 54,449 shares of company stock worth $5,724,799 over the last quarter. 8.85% of the stock is currently owned by company insiders.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.