Geode Capital Management LLC Has $117.14 Million Position in UMB Financial Co. (NASDAQ:UMBF)

Geode Capital Management LLC boosted its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,114,251 shares of the bank's stock after purchasing an additional 21,091 shares during the quarter. Geode Capital Management LLC owned about 2.28% of UMB Financial worth $117,139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covestor Ltd grew its stake in UMB Financial by 31.0% in the third quarter. Covestor Ltd now owns 431 shares of the bank's stock valued at $45,000 after acquiring an additional 102 shares during the period. Truist Financial Corp grew its stake in UMB Financial by 3.3% in the second quarter. Truist Financial Corp now owns 4,238 shares of the bank's stock valued at $354,000 after acquiring an additional 136 shares during the period. Commerce Bank grew its stake in UMB Financial by 0.3% in the third quarter. Commerce Bank now owns 41,708 shares of the bank's stock valued at $4,384,000 after acquiring an additional 142 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of UMB Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank's stock worth $4,496,000 after buying an additional 200 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in shares of UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank's stock worth $4,913,000 after buying an additional 210 shares during the period. Institutional investors own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

UMBF has been the subject of several recent research reports. Wells Fargo & Company upped 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. Royal Bank of Canada initiated coverage on UMB Financial in a research report on Friday, November 22nd. They set a "sector perform" rating and a $130.00 price objective for the company. StockNews.com cut UMB Financial from a "hold" rating to a "sell" rating in a research report on Monday, December 2nd. Citigroup initiated 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. Finally, Morgan Stanley began coverage on UMB Financial in a research report on Thursday, November 21st. They set an "overweight" rating and a $156.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.00.

UMB Financial Stock Down 5.6 %

NASDAQ UMBF traded down $6.69 during trading hours on Wednesday, hitting $113.57. 537,766 shares of the company traded hands, compared to its average volume of 364,707. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The business's 50-day moving average is $117.66 and its 200-day moving average is $102.43. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 14.20 and a beta of 0.80. UMB Financial Co. has a twelve month low of $76.00 and a twelve month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $716.44 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned $2.02 earnings per share. Sell-side 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 disclosed 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. This is a positive change 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 yield of 1.41%. UMB Financial's dividend payout ratio is currently 20.00%.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the transaction, the chief executive officer now owns 1,600,904 shares in the company, valued at approximately $162,988,036.24. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg M. Graves bought 258 shares of the stock in a transaction dated 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 purchase, the director now owns 36,244 shares of the company's stock, valued at $3,961,106.76. This trade represents a 0.72 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 74,603 shares of company stock worth $8,353,950 over the last 90 days. Company insiders own 8.85% of the company's stock.

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.