Cerity Partners LLC Has $2.24 Million Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Cerity Partners LLC lifted its holdings in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 767.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,269 shares of the bank's stock after acquiring an additional 18,817 shares during the quarter. Cerity Partners LLC's holdings in UMB Financial were worth $2,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in shares of UMB Financial by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,755 shares of the bank's stock worth $2,589,000 after purchasing an additional 1,633 shares in the last quarter. CWM LLC boosted its position in UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank's stock valued at $162,000 after buying an additional 129 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of UMB Financial by 37.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,553 shares of the bank's stock valued at $380,000 after acquiring an additional 1,246 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of UMB Financial during the second quarter worth about $3,808,000. Finally, AlphaMark Advisors LLC purchased a new stake in shares of UMB Financial during the second quarter worth about $321,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Performance

UMBF stock traded down $0.77 during midday trading on Monday, reaching $124.72. The company had a trading volume of 344,709 shares, compared to its average volume of 364,003. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $113.16 and a 200 day moving average price of $99.25. The firm has a market capitalization of $6.09 billion, a PE ratio of 15.59 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 posted its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.05. The company had revenue of $716.44 million for the quarter, compared to analysts' expectations of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period last year, the business posted $2.02 earnings per share. 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 announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a yield of 1.28%. This is an increase from UMB Financial's previous quarterly dividend of $0.39. UMB Financial's payout ratio is presently 19.50%.

Insiders Place Their Bets

In related news, Director Kris A. Robbins sold 5,000 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 3,211 shares of the company's stock, valued at $329,127.50. This trade represents a 60.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $123.38, for a total transaction of $105,366.52. Following the completion of the sale, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. This trade represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,303 shares of company stock worth $5,830,165. 8.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on UMBF. Barclays increased their price target on UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Wells Fargo & Company raised their price target on shares of UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Royal Bank of Canada assumed coverage on shares of UMB Financial in a report on Friday, November 22nd. They issued a "sector perform" rating and a $130.00 price target on the stock. Morgan Stanley started coverage on shares of UMB Financial in a research report on Thursday, November 21st. They issued an "overweight" rating and a $156.00 target price for the company. Finally, Citigroup started coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a "buy" rating and a $127.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, UMB Financial has a consensus rating of "Moderate Buy" and a consensus price target of $122.00.

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.