Cerity Partners LLC Sells 1,575 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Cerity Partners LLC reduced its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,928 shares of the bank’s stock after selling 1,575 shares during the quarter. Cerity Partners LLC’s holdings in UMB Financial were worth $1,914,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Alps Advisors Inc. acquired a new position in UMB Financial during the first quarter worth $356,000. Nisa Investment Advisors LLC raised its stake in UMB Financial by 1.1% during the first quarter. Nisa Investment Advisors LLC now owns 18,607 shares of the bank’s stock worth $1,889,000 after acquiring an additional 207 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in UMB Financial by 56.2% during the first quarter. New Mexico Educational Retirement Board now owns 13,900 shares of the bank’s stock worth $1,405,000 after acquiring an additional 5,000 shares in the last quarter. Greenleaf Trust raised its stake in UMB Financial by 14.6% during the first quarter. Greenleaf Trust now owns 2,527 shares of the bank’s stock worth $255,000 after acquiring an additional 322 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in UMB Financial during the first quarter worth $237,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Price Performance

Shares of UMBF stock opened at $109.73 on Monday. The stock has a 50-day moving average price of $103.80 and a 200 day moving average price of $104.52. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.46 and a beta of 0.74. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.37. The firm had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The company’s revenue was up 41.4% on a year-over-year basis. During the same period last year, the company earned $2.47 earnings per share. Research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.46%. UMB Financial’s payout ratio is 20.13%.

Analysts Set New Price Targets

Several research analysts have issued reports on UMBF shares. Piper Sandler set a $135.00 price objective on UMB Financial and gave the stock an “overweight” rating in a research note on Friday, June 13th. Wells Fargo & Company raised their target price on UMB Financial from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Barclays raised their target price on UMB Financial from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Wall Street Zen lowered UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Finally, Bank of America began coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a “buy” rating and a $105.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $127.00.

Insider Buying and Selling

In related news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer directly owned 288,945 shares in the company, valued at $29,417,490.45. This trade represents a 1.84% 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. 5.45% of the stock is currently owned by insiders.

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.