King Luther Capital Management Corp Has $4.95 Million Position in UMB Financial Co. (NASDAQ:UMBF)

King Luther Capital Management Corp lifted its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 229.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,116 shares of the bank's stock after purchasing an additional 32,820 shares during the period. King Luther Capital Management Corp owned 0.10% of UMB Financial worth $4,952,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank's stock worth $91,114,000 after acquiring an additional 694,751 shares during the last quarter. Millennium Management LLC increased its position in UMB Financial by 567.1% in the second quarter. Millennium Management LLC now owns 733,734 shares of the bank's stock worth $61,208,000 after purchasing an additional 623,751 shares during the period. Vanguard Group Inc. raised its holdings in UMB Financial by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock worth $409,321,000 after purchasing an additional 394,578 shares during the last quarter. ProShare Advisors LLC lifted its position in UMB Financial by 102.7% during the 2nd quarter. ProShare Advisors LLC now owns 752,576 shares of the bank's stock valued at $62,780,000 after purchasing an additional 381,278 shares during the period. Finally, Emerald Advisers LLC bought a new position in shares of UMB Financial in the 3rd quarter valued at about $12,867,000. Institutional investors own 87.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on UMBF shares. Wells Fargo & Company boosted 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 note on Thursday, October 31st. 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 target price for the company. Royal Bank of Canada began coverage on UMB Financial in a research report on Friday. They issued a "sector perform" rating and a $130.00 price target on the stock. Barclays upped their price objective on UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Finally, Morgan Stanley started coverage on shares of UMB Financial in a research report on Thursday. They issued an "overweight" rating and a $156.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.00.

UMB Financial Stock Up 1.5 %

UMBF traded up $1.87 during trading on Friday, reaching $125.00. The company had a trading volume of 351,661 shares, compared to its average volume of 461,581. The company has a market cap of $6.10 billion, a P/E ratio of 15.63 and a beta of 0.78. UMB Financial Co. has a 12 month low of $69.96 and a 12 month high of $128.73. 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 fifty day moving average price is $110.81 and its 200 day moving average price is $97.26.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data 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 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 in the prior year, the firm earned $2.02 earnings per share. Equities analysts anticipate that UMB Financial Co. will post 9.33 EPS for the current 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 10th. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. UMB Financial's payout ratio is currently 19.50%.

Insider Activity at UMB Financial

In other UMB Financial news, EVP John Pauls sold 849 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $110.42, for a total value of $93,746.58. Following the completion of the sale, the executive vice president now owns 6,483 shares in the company, valued at $715,852.86. This trade represents a 11.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the insider now owns 5,828 shares in the company, valued at $719,058.64. This represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,303 shares of company stock valued at $5,830,165. Corporate insiders own 8.85% of the company's stock.

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.