Principal Financial Group Inc. Raises Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Principal Financial Group Inc. lifted its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 403.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 866,848 shares of the bank's stock after purchasing an additional 694,751 shares during the period. Principal Financial Group Inc. owned 1.78% of UMB Financial worth $91,114,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in UMB Financial during the third quarter valued at approximately $26,000. Covestor Ltd lifted its stake in shares of 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 in the last quarter. Point72 Asset Management L.P. bought a new position in UMB Financial in the 3rd quarter worth $83,000. Acropolis Investment Management LLC purchased a new stake in UMB Financial in the 3rd quarter worth $156,000. Finally, Heritage Family Offices LLP bought a new stake in UMB Financial during the third quarter valued at about $203,000. 87.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

UMBF has been the subject of a number of recent analyst reports. StockNews.com raised UMB Financial from a "sell" rating to a "hold" rating in a research note on Friday. Wells Fargo & Company upped their price target on UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Barclays lifted their price objective on shares of UMB Financial from $123.00 to $139.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. 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 for the company. Finally, Royal Bank of Canada assumed coverage on shares of UMB Financial in a report on Friday, November 22nd. They issued a "sector perform" rating and a $130.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, UMB Financial currently has an average rating of "Moderate Buy" and an average price target of $124.00.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of the firm's 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 completion of the sale, the chief executive officer now directly owns 1,600,904 shares of the company's stock, valued at approximately $162,988,036.24. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,603 shares of company stock worth $8,353,950. Company insiders own 8.85% of the company's stock.

UMB Financial Price Performance

UMBF stock traded up $1.41 during trading on Friday, hitting $114.61. 1,091,254 shares of the company's stock traded hands, compared to its average volume of 368,565. UMB Financial Co. has a 52 week low of $76.00 and a 52 week high of $129.94. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 14.33 and a beta of 0.80. The business has a fifty day simple moving average of $118.10 and a 200 day simple moving average of $102.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The firm had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. During the same quarter last year, the firm earned $2.02 EPS. As a group, research analysts expect that UMB Financial Co. will post 9.21 EPS for the current fiscal year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. This is an increase from UMB Financial's previous quarterly dividend of $0.39. UMB Financial's payout ratio is currently 20.00%.

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.