Fisher Asset Management LLC Sells 6,761 Shares of UMB Financial Co. (NASDAQ:UMBF)

Fisher Asset Management LLC cut its holdings in UMB Financial Co. (NASDAQ:UMBF) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,810 shares of the bank’s stock after selling 6,761 shares during the period. Fisher Asset Management LLC owned about 0.53% of UMB Financial worth $27,414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in UMB Financial by 2.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after purchasing an additional 49,690 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of UMB Financial by 6.8% in the 2nd quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock worth $146,196,000 after buying an additional 111,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $140,968,000 after buying an additional 100,000 shares during the last quarter. Principal Financial Group Inc. grew its position in UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after buying an additional 694,751 shares during the period. Finally, ProShare Advisors LLC increased its holdings in UMB Financial by 102.7% during the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock worth $62,780,000 after buying an additional 381,278 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. Royal Bank of Canada initiated coverage on UMB Financial in a research note on Friday, November 22nd. They issued a “sector perform” rating and a $130.00 price objective on the stock. Wells Fargo & Company raised their target price on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Barclays upped their price target on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Citigroup assumed coverage on UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.00.

Insiders Place Their Bets

In other news, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares of the company’s stock, valued at approximately $329,127.50. The trade was a 60.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $123.38, for a total transaction of $105,366.52. Following the completion of the sale, 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. Insiders have sold 55,303 shares of company stock worth $5,830,165 in the last three months. 8.85% of the stock is currently owned by corporate insiders.

UMB Financial Price Performance

UMB Financial stock opened at $125.88 on Wednesday. The firm has a market capitalization of $6.14 billion, a P/E ratio of 15.74 and a beta of 0.78. UMB Financial Co. has a one year low of $69.96 and a one year high of $129.94. 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 business has a fifty day moving average price of $111.68 and a 200-day moving average price of $98.10.

UMB Financial (NASDAQ:UMBF) last issued 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 business had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. During the same quarter last year, the company earned $2.02 EPS. As a group, equities research analysts forecast that UMB Financial Co. will post 9.21 EPS for the current year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a yield of 1.27%. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s payout ratio is currently 20.00%.

UMB Financial Profile

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.