UMB Financial Co. (NASDAQ:UMBF) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 60.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,091 shares of the bank's stock after selling 4,650 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in UMB Financial were worth $325,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of UMB Financial in the 3rd quarter valued at about $26,000. Covestor Ltd boosted its position in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank's stock valued at $45,000 after purchasing an additional 102 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of UMB Financial in the 2nd quarter valued at about $128,000. Heritage Family Offices LLP acquired a new stake in shares of UMB Financial in the 3rd quarter valued at about $203,000. Finally, CWM LLC boosted its position in shares of 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 purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on UMBF shares. Wells Fargo & Company increased their price objective on UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Citigroup started coverage on UMB Financial in a research report on Thursday, October 10th. They set a "buy" rating and a $127.00 price objective for the company. Piper Sandler increased their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Finally, Barclays increased their target price on UMB Financial from $118.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.00.

Insider Transactions at UMB Financial

In other news, Director Greg M. Graves bought 258 shares of UMB Financial stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the acquisition, the director now owns 36,244 shares of the company's stock, valued at $3,961,106.76. The trade was a 0.72 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,600,904 shares in the company, valued at $162,988,036.24. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,449 shares of company stock worth $5,724,799 over the last quarter. 8.85% of the stock is currently owned by insiders.

UMB Financial Price Performance

NASDAQ UMBF traded down $0.24 during mid-day trading on Monday, hitting $121.25. The stock had a trading volume of 223,172 shares, compared to its average volume of 367,149. UMB Financial Co. has a 52-week low of $69.96 and a 52-week high of $128.73. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 15.22 and a beta of 0.78. The company has a 50 day simple moving average of $108.82 and a 200 day simple moving average of $96.06. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.05. The company had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same quarter last year, the business posted $2.02 earnings per share. Equities analysts forecast that UMB Financial Co. will post 9.33 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.40 per share. This is a boost from UMB Financial's previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. UMB Financial's dividend payout ratio (DPR) is 19.50%.

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.