Fisher Asset Management LLC Trims Holdings in UMB Financial Corporation $UMBF

Fisher Asset Management LLC trimmed its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 282,261 shares of the bank’s stock after selling 8,959 shares during the quarter. Fisher Asset Management LLC owned 0.37% of UMB Financial worth $29,683,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in UMBF. Vanguard Group Inc. increased its position in shares of UMB Financial by 54.0% during the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock valued at $741,342,000 after buying an additional 2,570,283 shares during the period. Dimensional Fund Advisors LP increased its holdings in UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock worth $273,029,000 after acquiring an additional 1,185,671 shares during the period. Wellington Management Group LLP increased its holdings in UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock worth $243,359,000 after acquiring an additional 385,830 shares during the period. American Century Companies Inc. lifted its stake in UMB Financial by 7.7% in the 1st quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank’s stock worth $207,660,000 after purchasing an additional 146,585 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in UMB Financial by 3.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,976,030 shares of the bank’s stock valued at $213,688,000 after purchasing an additional 63,147 shares during the period. Institutional investors own 87.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Greg M. Graves purchased 264 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $106.41 per share, with a total value of $28,092.24. Following the purchase, the director directly owned 38,411 shares of the company’s stock, valued at approximately $4,087,314.51. This trade represents a 0.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin Charles Gallagher sold 460 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $110.71, for a total value of $50,926.60. Following the sale, the director directly owned 12,090 shares of the company’s stock, valued at approximately $1,338,483.90. This trade represents a 3.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on UMBF shares. Truist Financial increased their price objective on UMB Financial from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Royal Bank Of Canada raised UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 price target on the stock in a report on Thursday, November 6th. Morgan Stanley lifted their price target on UMB Financial from $120.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Raymond James Financial restated a “strong-buy” rating and issued a $135.00 price objective (down from $138.00) on shares of UMB Financial in a research report on Thursday, October 30th. Finally, Barclays set a $155.00 target price on shares of UMB Financial and gave the company an “overweight” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, UMB Financial has an average rating of “Moderate Buy” and a consensus price target of $137.20.

UMB Financial Trading Down 1.3%

Shares of UMBF opened at $111.00 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.77 and a current ratio of 0.75. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $128.80. The firm has a 50 day moving average price of $112.08 and a 200-day moving average price of $110.87. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.11 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.22. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The business had revenue of $678.34 million during the quarter, compared to the consensus estimate of $661.60 million. During the same period in the previous year, the firm posted $2.25 earnings per share. The firm’s revenue for the quarter was up 67.0% on a year-over-year basis. As a group, equities research analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Wednesday, December 10th will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, December 10th. This represents a $1.72 annualized dividend and a yield of 1.5%. This is a boost from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s dividend payout ratio (DPR) is currently 19.48%.

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.