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

Fisher Asset Management LLC cut its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 260,810 shares of the bank’s stock after selling 6,761 shares during the period. Fisher Asset Management LLC’s holdings in UMB Financial were worth $27,414,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC grew its position in UMB Financial by 767.4% during the third 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 during the last quarter. Citigroup Inc. boosted its stake in shares of UMB Financial by 28.5% in the 3rd quarter. Citigroup Inc. now owns 86,109 shares of the bank’s stock valued at $9,051,000 after purchasing an additional 19,108 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of UMB Financial by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 580,174 shares of the bank’s stock valued at $60,982,000 after purchasing an additional 24,124 shares during the last quarter. Landscape Capital Management L.L.C. raised its position in UMB Financial by 48.1% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 5,792 shares of the bank’s stock worth $609,000 after purchasing an additional 1,882 shares during the period. Finally, Intech Investment Management LLC lifted its stake in UMB Financial by 35.8% in the third quarter. Intech Investment Management LLC now owns 13,311 shares of the bank’s stock worth $1,399,000 after purchasing an additional 3,507 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Robert Brian Beaird sold 854 shares of the business’s stock in a transaction 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 sale, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. The trade was a 12.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,904 shares in the company, valued at $162,988,036.24. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,303 shares of company stock worth $5,830,165. Company insiders own 8.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UMBF. Morgan Stanley assumed coverage on UMB Financial in a research note on Thursday, November 21st. They set an “overweight” rating and a $156.00 price objective on the stock. Piper Sandler raised their price target on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. StockNews.com downgraded UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 22nd. Barclays raised their target price on shares of UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada initiated coverage on shares of UMB Financial in a report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

UMB Financial Price Performance

Shares of UMB Financial stock opened at $125.88 on Wednesday. The business has a 50 day moving average of $111.68 and a 200 day moving average of $98.10. UMB Financial Co. has a 52 week low of $69.96 and a 52 week high of $129.94. The company has a market cap of $6.14 billion, a PE ratio of 15.74 and a beta of 0.78. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $2.20 by $0.05. The business had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period in the prior year, the business earned $2.02 EPS. As a group, equities research analysts forecast that UMB Financial Co. will post 9.21 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 1.27%. UMB Financial’s dividend payout ratio (DPR) is 20.00%.

UMB Financial Company 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.