Massachusetts Financial Services Co. MA Sells 14,236 Shares of UMB Financial Co. (NASDAQ:UMBF)

Massachusetts Financial Services Co. MA trimmed its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 2.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,386 shares of the bank's stock after selling 14,236 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.03% of UMB Financial worth $52,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new position in UMB Financial in the second quarter worth approximately $3,808,000. Vanguard Group Inc. increased its holdings in UMB Financial by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock worth $409,321,000 after buying an additional 394,578 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in UMB Financial by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank's stock worth $140,968,000 after buying an additional 100,000 shares during the last quarter. Interval Partners LP acquired a new position in UMB Financial in the second quarter worth approximately $3,286,000. Finally, Quest Partners LLC increased its holdings in UMB Financial by 144.1% in the second quarter. Quest Partners LLC now owns 17,784 shares of the bank's stock worth $1,484,000 after buying an additional 10,498 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UMBF. Citigroup initiated coverage on UMB Financial in a report on Thursday, October 10th. They issued a "buy" rating and a $127.00 price objective on the stock. 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. StockNews.com downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday. Wells Fargo & Company raised their target price 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. Finally, 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 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $122.00.

UMB Financial Price Performance

Shares of UMB Financial stock traded up $3.40 during trading on Monday, reaching $128.40. The company's stock had a trading volume of 204,105 shares, compared to its average volume of 364,618. The stock has a 50-day moving average price of $110.81 and a two-hundred day moving average price of $97.47. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11. UMB Financial Co. has a one year low of $69.96 and a one year high of $129.94. The stock has a market capitalization of $6.27 billion, a P/E ratio of 16.12 and a beta of 0.78.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.05. The business 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 previous year, the business posted $2.02 earnings per share. As a group, sell-side analysts anticipate that UMB Financial Co. will post 9.21 EPS for the current fiscal year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 yield of 1.25%. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 10th. UMB Financial's dividend payout ratio (DPR) is presently 20.00%.

Insider Buying and Selling

In other news, insider Robert Brian Beaird sold 854 shares of UMB Financial 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. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg M. Graves acquired 258 shares of the business's stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the acquisition, the director now directly owns 36,244 shares in the company, valued at $3,961,106.76. This represents a 0.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 55,303 shares of company stock worth $5,830,165 over the last three months. 8.85% of the stock is currently owned by company insiders.

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.