Thrivent Financial for Lutherans Sells 19,756 Shares of UMB Financial Co. (NASDAQ:UMBF)

Thrivent Financial for Lutherans trimmed its holdings in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 49.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 20,002 shares of the bank's stock after selling 19,756 shares during the period. Thrivent Financial for Lutherans' holdings in UMB Financial were worth $2,103,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of UMB Financial in the third quarter valued at $26,000. Covestor Ltd increased its position in UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank's stock valued at $45,000 after acquiring an additional 102 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of UMB Financial in the second quarter worth about $128,000. CWM LLC lifted its position in shares of UMB Financial by 7.1% during 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. Finally, Heritage Family Offices LLP bought a new stake in shares of UMB Financial during the third quarter valued at approximately $203,000. Institutional investors own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup initiated coverage on UMB Financial in a report on Thursday, October 10th. They set a "buy" rating and a $127.00 price objective on the stock. Piper Sandler raised their price target on UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Morgan Stanley started coverage on UMB Financial in a report on Thursday, November 21st. They set an "overweight" rating and a $156.00 price objective for the company. Barclays raised their target price on shares of UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.00.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, EVP John Pauls sold 849 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $110.42, for a total transaction of $93,746.58. Following the sale, the executive vice president now directly owns 6,483 shares in the company, valued at approximately $715,852.86. This trade represents a 11.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Brian Beaird sold 854 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total transaction of $105,366.52. Following the completion of the transaction, the insider now owns 5,828 shares of the company's stock, valued at $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,303 shares of company stock valued at $5,830,165. Company insiders own 8.85% of the company's stock.

UMB Financial Trading Up 0.1 %

Shares of NASDAQ:UMBF traded up $0.17 during mid-day trading on Thursday, reaching $126.05. The stock had a trading volume of 234,928 shares, compared to its average volume of 365,035. The firm has a 50 day simple moving average of $112.09 and a two-hundred day simple moving average of $98.29. UMB Financial Co. has a twelve month low of $69.96 and a twelve month high of $129.94. The firm has a market cap of $6.15 billion, a PE ratio of 15.76 and a beta of 0.78. 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 (NASDAQ:UMBF - Get Free Report) last posted its earnings results 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. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The company had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same period last year, the business posted $2.02 earnings per share. On average, research analysts predict that UMB Financial Co. will post 9.21 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 1.27%. UMB Financial's payout ratio is currently 19.50%.

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.