JPMorgan Chase & Co. Trims Holdings in UMB Financial Co. (NASDAQ:UMBF)

JPMorgan Chase & Co. cut its holdings in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,180 shares of the bank's stock after selling 46,392 shares during the period. JPMorgan Chase & Co. owned about 0.65% of UMB Financial worth $33,339,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of UMB Financial in the third quarter valued at approximately $26,000. Covestor Ltd grew its holdings in UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank's stock valued at $45,000 after buying an additional 102 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in UMB Financial during the third quarter worth $83,000. Acropolis Investment Management LLC acquired a new position in shares of UMB Financial in the third quarter worth $156,000. Finally, Heritage Family Offices LLP purchased a new stake in shares of UMB Financial in the third quarter valued at $203,000. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Trading Down 1.4 %

UMBF stock traded down $1.57 during trading on Tuesday, reaching $110.34. 431,646 shares of the stock traded hands, compared to its average volume of 414,086. The firm has a market capitalization of $5.38 billion, a PE ratio of 13.79 and a beta of 0.82. 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 business's 50 day moving average price is $119.34 and its 200-day moving average price is $105.69. UMB Financial Co. has a 52-week low of $76.00 and a 52-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, topping analysts' consensus estimates of $2.20 by $0.05. The firm had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter in the prior year, the company earned $2.02 EPS. As a group, sell-side analysts forecast 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 was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were issued a dividend of $0.40 per share. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. The ex-dividend date was Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. UMB Financial's payout ratio is presently 20.00%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UMBF. StockNews.com raised shares of UMB Financial from a "sell" rating to a "hold" rating in a research note on Friday, December 20th. Morgan Stanley began coverage on shares of UMB Financial in a research report on Thursday, November 21st. They set an "overweight" rating and a $156.00 target price on the stock. Citigroup assumed coverage on UMB Financial in a report on Thursday, October 10th. They issued a "buy" rating and a $127.00 price target for the company. Wells Fargo & Company lifted their price objective 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. Finally, Barclays increased their target price on UMB Financial from $123.00 to $139.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $124.00.

Insider Buying and Selling

In other news, insider Robert Brian Beaird sold 854 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the transaction, the insider now directly owns 5,828 shares in the company, valued at approximately $719,058.64. This represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg M. Graves purchased 258 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $109.29 per share, for a total transaction of $28,196.82. Following the purchase, the director now directly owns 36,244 shares in the company, valued at $3,961,106.76. This trade represents a 0.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 50,303 shares of company stock valued at $5,879,967. 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.