Principal Financial Group Inc. Sells 61,658 Shares of UMB Financial Co. (NASDAQ:UMBF)

Principal Financial Group Inc. decreased its position in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 805,190 shares of the bank's stock after selling 61,658 shares during the period. Principal Financial Group Inc. owned approximately 1.65% of UMB Financial worth $90,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd increased its position in UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank's stock worth $45,000 after acquiring an additional 102 shares during the period. Heritage Family Offices LLP grew its position in shares of UMB Financial by 6.5% during the 4th quarter. Heritage Family Offices LLP now owns 2,059 shares of the bank's stock worth $232,000 after purchasing an additional 125 shares in the last quarter. Commerce Bank increased its holdings in shares of UMB Financial by 0.3% during the third quarter. Commerce Bank now owns 41,708 shares of the bank's stock worth $4,384,000 after purchasing an additional 142 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of UMB Financial by 5.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 3,634 shares of the bank's stock valued at $410,000 after buying an additional 186 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of UMB Financial in the third quarter valued at approximately $26,000. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Price Performance

Shares of UMBF traded down $3.05 during mid-day trading on Friday, reaching $106.91. The company had a trading volume of 467,773 shares, compared to its average volume of 820,670. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 11.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The company's 50 day simple moving average is $115.63 and its 200 day simple moving average is $111.43. UMB Financial Co. has a 1-year low of $76.00 and a 1-year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same period last year, the company earned $2.29 EPS. Analysts expect that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. UMB Financial's payout ratio is presently 17.80%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on UMBF shares. StockNews.com raised UMB Financial from a "sell" rating to a "hold" rating in a report on Wednesday, January 29th. Morgan Stanley initiated coverage on UMB Financial in a research note on Thursday, November 21st. They issued an "overweight" rating and a $156.00 price target for the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $128.00 price objective on shares of UMB Financial in a research note on Thursday, January 30th. Barclays boosted their target price 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. Finally, Citigroup reiterated a "neutral" rating and set a $127.00 price target (down previously from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, UMB Financial presently has a consensus rating of "Moderate Buy" and an average price target of $130.14.

Insiders Place Their Bets

In other UMB Financial news, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $114.13, for a total transaction of $60,146.51. Following the completion of the sale, the director now directly owns 13,010 shares in the company, valued at approximately $1,484,831.30. This trade represents a 3.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO J Mariner Kemper sold 24,300 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $124.95, for a total value of $3,036,285.00. Following the completion of the transaction, the chief executive officer now directly owns 1,552,304 shares in the company, valued at approximately $193,960,384.80. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.85% of the company's stock.

UMB Financial Company 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.