Retirement Systems of Alabama lowered its holdings in UMB Financial Co. (NASDAQ:UMBF – Free Report) by 0.5% in the third quarter, Holdings Channel reports. The firm owned 53,886 shares of the bank’s stock after selling 259 shares during the quarter. Retirement Systems of Alabama’s holdings in UMB Financial were worth $5,664,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its holdings in shares of UMB Financial by 767.4% in the 3rd quarter. Cerity Partners LLC now owns 21,269 shares of the bank’s stock valued at $2,236,000 after acquiring an additional 18,817 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in UMB Financial by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock valued at $140,968,000 after purchasing an additional 100,000 shares during the last quarter. Interval Partners LP bought a new position in UMB Financial in the second quarter valued at approximately $3,286,000. King Luther Capital Management Corp grew its stake in UMB Financial by 229.6% in the third quarter. King Luther Capital Management Corp now owns 47,116 shares of the bank’s stock valued at $4,952,000 after purchasing an additional 32,820 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of UMB Financial by 51.2% during the 3rd quarter. Natixis Advisors LLC now owns 28,935 shares of the bank’s stock worth $3,041,000 after purchasing an additional 9,803 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
UMBF has been the subject of several analyst reports. StockNews.com cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Royal Bank of Canada began coverage on shares of UMB Financial in a research report on Friday, November 22nd. They issued a “sector perform” rating and a $130.00 price objective for the company. Citigroup started coverage on shares of UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price on the stock. Wells Fargo & Company lifted their price target on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Morgan Stanley assumed coverage on UMB Financial in a research note on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $124.00.
UMB Financial Stock Down 5.6 %
UMB Financial stock opened at $113.57 on Thursday. The company’s 50-day moving average price is $117.83 and its two-hundred day moving average price is $102.50. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.54 billion, a P/E ratio of 14.20 and a beta of 0.80. UMB Financial Co. has a twelve month low of $76.00 and a twelve month high of $129.94.
UMB Financial (NASDAQ:UMBF – Get Free Report) last announced its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same quarter last year, the company earned $2.02 earnings per share. As a group, analysts expect that UMB Financial Co. will post 9.21 EPS for the current year.
UMB Financial Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio (DPR) is currently 20.00%.
Insider Activity
In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the sale, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at $162,988,036.24. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total transaction of $105,366.52. Following the transaction, the insider now directly owns 5,828 shares in the company, valued at $719,058.64. This represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,603 shares of company stock valued at $8,353,950. 8.85% of the stock is 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.
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