State Street Corp Sells 5,050 Shares of UMB Financial Co. (NASDAQ:UMBF)

State Street Corp trimmed its holdings in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,824,651 shares of the bank's stock after selling 5,050 shares during the period. State Street Corp owned 5.79% of UMB Financial worth $297,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in UMBF. Principal Financial Group Inc. boosted its position in shares of UMB Financial by 403.7% during the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank's stock worth $91,114,000 after acquiring an additional 694,751 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of UMB Financial by 567.1% in the 2nd quarter. Millennium Management LLC now owns 733,734 shares of the bank's stock valued at $61,208,000 after purchasing an additional 623,751 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of UMB Financial by 102.7% in the 2nd quarter. ProShare Advisors LLC now owns 752,576 shares of the bank's stock valued at $62,780,000 after purchasing an additional 381,278 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of UMB Financial by 258.0% during the 3rd quarter. Captrust Financial Advisors now owns 392,397 shares of the bank's stock worth $41,245,000 after buying an additional 282,783 shares in the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of UMB Financial by 438.8% during the 3rd quarter. Systematic Financial Management LP now owns 320,550 shares of the bank's stock worth $33,693,000 after buying an additional 261,055 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UMBF has been the subject of a number of research reports. StockNews.com cut UMB Financial from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Morgan Stanley began coverage on shares of UMB Financial in a report on Thursday, November 21st. They issued an "overweight" rating and a $156.00 price objective for the company. Royal Bank of Canada began coverage on shares of UMB Financial in a report on Friday, November 22nd. They set a "sector perform" rating and a $130.00 target price on the stock. Citigroup initiated coverage on shares of UMB Financial in a report on Thursday, October 10th. They set a "buy" rating and a $127.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $124.00.

UMB Financial Trading Up 0.8 %

Shares of UMBF stock traded up $1.04 during mid-day trading on Wednesday, hitting $125.28. The company's stock had a trading volume of 245,791 shares, compared to its average volume of 363,712. The company has a market cap of $6.11 billion, a PE ratio of 15.64 and a beta of 0.80. The company's fifty day simple moving average is $115.70 and its 200-day simple moving average is $100.96. 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 Co. has a 52 week low of $75.03 and a 52 week high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its 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 company had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter in the previous year, the company earned $2.02 EPS. As a group, equities research analysts expect that UMB Financial Co. will post 9.21 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. This is an increase from UMB Financial's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 10th. UMB Financial's dividend payout ratio is 20.00%.

Insiders Place Their Bets

In related news, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total value of $2,473,983.00. Following the transaction, the chief executive officer now directly owns 1,600,904 shares in the company, valued at $162,988,036.24. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greg M. Graves purchased 258 shares of the firm's stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $109.29 per share, with a total value of $28,196.82. Following the purchase, 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 position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 74,603 shares of company stock worth $8,353,950. Corporate insiders own 8.85% of the company's stock.

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.