Basswood Capital Management L.L.C. Reduces Stake in UMB Financial Co. (NASDAQ:UMBF)

Basswood Capital Management L.L.C. lessened its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 47.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,787 shares of the bank's stock after selling 111,094 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.25% of UMB Financial worth $12,801,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new position in shares of UMB Financial in the second quarter worth $3,808,000. Dimensional Fund Advisors LP increased its position in shares of UMB Financial by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank's stock worth $140,968,000 after purchasing an additional 100,000 shares during the period. Interval Partners LP bought a new position in shares of UMB Financial in the second quarter worth $3,286,000. Cerity Partners LLC increased its position in shares of UMB Financial by 767.4% in the third quarter. Cerity Partners LLC now owns 21,269 shares of the bank's stock worth $2,236,000 after purchasing an additional 18,817 shares during the period. Finally, King Luther Capital Management Corp grew its position in UMB Financial by 229.6% in the third quarter. King Luther Capital Management Corp now owns 47,116 shares of the bank's stock valued at $4,952,000 after acquiring an additional 32,820 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

Insider Buying and Selling at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares in the company, valued at $329,127.50. The trade was a 60.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the sale, the chief executive officer now owns 1,600,904 shares of the company's stock, valued at approximately $162,988,036.24. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,303 shares of company stock valued at $5,830,165. 8.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

UMBF has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on UMB Financial from $107.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Citigroup initiated coverage on UMB Financial in a research report on Thursday, October 10th. They issued a "buy" rating and a $127.00 target price on the stock. Barclays lifted their target price on UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. StockNews.com cut UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, November 22nd. Finally, Morgan Stanley started coverage on UMB Financial in a research note on Thursday, November 21st. They set an "overweight" rating and a $156.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.00.

UMB Financial Trading Up 0.1 %

Shares of UMB Financial stock traded up $0.18 during midday trading on Monday, reaching $125.67. The company had a trading volume of 166,461 shares, compared to its average volume of 363,203. The stock has a fifty day moving average price of $112.80 and a 200 day moving average price of $98.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $6.13 billion, a PE ratio of 15.69 and a beta of 0.78. UMB Financial Co. has a fifty-two week low of $73.54 and a fifty-two week high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The firm had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same period in the previous year, the firm earned $2.02 earnings per share. On average, equities analysts anticipate that UMB Financial Co. will post 9.21 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend 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 payout ratio is 19.50%.

About UMB Financial

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.