Fisher Asset Management LLC lessened its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,661 shares of the bank’s stock after selling 12,748 shares during the period. Fisher Asset Management LLC’s holdings in UMB Financial were worth $23,698,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in UMBF. SummerHaven Investment Management LLC acquired a new position in UMB Financial during the fourth quarter valued at approximately $621,000. Norges Bank acquired a new position in UMB Financial during the fourth quarter valued at approximately $34,631,000. BlackRock Inc. grew its holdings in UMB Financial by 4.6% during the fourth quarter. BlackRock Inc. now owns 5,051,749 shares of the bank’s stock valued at $348,521,000 after purchasing an additional 220,459 shares during the last quarter. Boston Trust Walden Corp grew its holdings in UMB Financial by 32.9% during the first quarter. Boston Trust Walden Corp now owns 597,695 shares of the bank’s stock valued at $55,185,000 after purchasing an additional 147,814 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in UMB Financial by 6.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,741,402 shares of the bank’s stock valued at $120,139,000 after purchasing an additional 104,731 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.
UMBF has been the topic of several analyst reports. Raymond James increased their price target on UMB Financial from $82.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Wells Fargo & Company increased their price objective on UMB Financial from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, April 29th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $84.50.
UMB Financial (NASDAQ:UMBF) last issued its earnings results on Monday, April 26th. The bank reported $1.91 EPS for the quarter, topping the consensus estimate of $1.47 by $0.44. The firm had revenue of $303.00 million during the quarter, compared to analysts’ expectations of $309.32 million. UMB Financial had a return on equity of 7.54% and a net margin of 15.62%. UMB Financial’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business earned ($0.04) earnings per share. Equities analysts predict that UMB Financial Co. will post 4.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Thursday, June 10th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, June 9th. This represents a $1.28 annualized dividend and a yield of 1.31%. UMB Financial’s dividend payout ratio (DPR) is currently 25.65%.
In related news, EVP James Cornelius sold 482 shares of UMB Financial stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $77.09, for a total value of $37,157.38. Following the completion of the sale, the executive vice president now directly owns 5,737 shares in the company, valued at $442,265.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO J Mariner Kemper sold 1,681 shares of UMB Financial stock in a transaction dated Wednesday, February 3rd. The stock was sold at an average price of $73.73, for a total value of $123,940.13. Following the completion of the sale, the chief executive officer now owns 193,959 shares of the company’s stock, valued at $14,300,597.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,293 shares of company stock valued at $2,909,994. 10.24% of the stock is owned by company insiders.
UMB Financial Company Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit cards; commercial real estate financing; letters of credit; loan syndication, and consultative services; various business solutions including asset-based lending, accounts receivable financing, mezzanine debt, and minority equity investments; and treasury management services, such as depository services, account reconciliation, cash management tools, accounts payable and receivable solutions, electronic fund transfer and automated payments, controlled disbursements, lockbox services, and remote deposit capture services.
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