Fisher Asset Management LLC Reduces Stake in UMB Financial Corporation $UMBF

Fisher Asset Management LLC cut its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 282,261 shares of the bank’s stock after selling 8,959 shares during the period. Fisher Asset Management LLC’s holdings in UMB Financial were worth $29,683,000 as of its most recent SEC filing.

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

Insider Transactions at UMB Financial

In related news, Director Greg M. Graves bought 264 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $106.41 per share, for a total transaction of $28,092.24. Following the completion of the acquisition, the director owned 38,411 shares of the company’s stock, valued at $4,087,314.51. This trade represents a 0.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gallagher sold 460 shares of UMB Financial stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $110.71, for a total transaction of $50,926.60. Following the completion of 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. Company insiders own 5.45% of the company’s stock.

UMB Financial Price Performance

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

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, October 28th. The bank reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. The business had revenue of $678.34 million during the quarter, compared to analyst estimates of $661.60 million. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The company’s quarterly revenue was up 67.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 EPS. As a group, research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UMBF. Morgan Stanley lifted their price objective on UMB Financial from $120.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Cowen initiated coverage on UMB Financial in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Wells Fargo & Company increased their price objective on UMB Financial from $125.00 to $130.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Truist Financial boosted their target price on shares of UMB Financial from $130.00 to $144.00 and gave the company a “buy” rating in a report on Monday, September 8th. Finally, Barclays set a $155.00 target price on shares of UMB Financial and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.20.

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.