Creative Planning Cuts Stake in UMB Financial Co. (NASDAQ:UMBF)

Creative Planning cut its holdings in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 21.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,326 shares of the bank's stock after selling 8,331 shares during the quarter. Creative Planning owned approximately 0.06% of UMB Financial worth $3,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. purchased a new position in shares of UMB Financial in the 2nd quarter valued at $128,000. CWM LLC raised its holdings in UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank's stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of UMB Financial during the first quarter valued at about $252,000. SG Americas Securities LLC boosted its holdings in shares of UMB Financial by 69.5% in the 3rd quarter. SG Americas Securities LLC now owns 2,478 shares of the bank's stock valued at $260,000 after buying an additional 1,016 shares in the last quarter. Finally, Profund Advisors LLC grew its position in shares of UMB Financial by 6.7% in the 2nd quarter. Profund Advisors LLC now owns 3,493 shares of the bank's stock worth $291,000 after buying an additional 220 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at UMB Financial

In related news, Director Tamara Peterman purchased 396 shares of the firm's stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $99.56 per share, with a total value of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares of the company's stock, valued at $737,440.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP John Pauls sold 1,623 shares of UMB Financial stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $92.97, for a total value of $150,890.31. Following the completion of the transaction, the executive vice president now owns 7,332 shares in the company, valued at $681,656.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tamara Peterman purchased 396 shares of the stock in a transaction on Thursday, August 1st. The shares were acquired at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the transaction, the director now directly owns 7,407 shares of the company's stock, valued at $737,440.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 42,596 shares of company stock valued at $4,224,884. 8.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on UMBF. Piper Sandler increased their target price on shares of UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Barclays raised their price objective on UMB Financial from $100.00 to $114.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Citigroup assumed coverage on UMB Financial in a research note on Thursday, October 10th. They issued a "buy" rating and a $127.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on UMB Financial from $90.00 to $107.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $105.86.

UMB Financial Stock Performance

UMBF traded down $1.75 on Friday, reaching $104.07. 566,235 shares of the stock were exchanged, compared to its average volume of 357,066. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. The company's 50-day moving average price is $104.20 and its 200 day moving average price is $92.22. The firm has a market capitalization of $5.07 billion, a PE ratio of 13.43 and a beta of 0.78. UMB Financial Co. has a fifty-two week low of $61.18 and a fifty-two week high of $113.30.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.15. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The firm had revenue of $390.03 million during the quarter, compared to the consensus estimate of $384.96 million. During the same quarter in the previous year, the company posted $1.93 earnings per share. The company's revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that UMB Financial Co. will post 8.98 EPS for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.39 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a yield of 1.50%. UMB Financial's dividend payout ratio is presently 20.13%.

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.