Wellington Management Group LLP Sells 680,606 Shares of UMB Financial Co. (NASDAQ:UMBF)

Wellington Management Group LLP reduced its holdings in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 26.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,919,181 shares of the bank's stock after selling 680,606 shares during the quarter. Wellington Management Group LLP owned about 3.93% of UMB Financial worth $201,725,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in UMB Financial by 2.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank's stock worth $163,066,000 after buying an additional 49,690 shares in the last quarter. American Century Companies Inc. grew its position in UMB Financial by 6.8% during the second quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank's stock worth $146,196,000 after buying an additional 111,090 shares in the last quarter. Dimensional Fund Advisors LP grew its position in UMB Financial by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank's stock worth $140,968,000 after buying an additional 100,000 shares in the last quarter. FMR LLC grew its position in UMB Financial by 2.7% during the third quarter. FMR LLC now owns 949,687 shares of the bank's stock worth $99,822,000 after buying an additional 24,799 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank's stock worth $91,114,000 after buying an additional 694,751 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UMBF has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Morgan Stanley began coverage on UMB Financial in a research report on Thursday, November 21st. They set an "overweight" rating and a $156.00 target price on the stock. Royal Bank of Canada began coverage on shares of UMB Financial in a research note on Friday, November 22nd. They set a "sector perform" rating and a $130.00 price target for the company. StockNews.com cut shares of UMB Financial from a "hold" rating to a "sell" rating in a research note on Monday, December 2nd. Finally, Citigroup began coverage on shares of UMB Financial in a research note on Thursday, October 10th. They set a "buy" rating and a $127.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, UMB Financial currently has an average rating of "Moderate Buy" and an average price target of $124.00.

Insiders Place Their Bets

In other UMB Financial news, 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 transaction of $105,366.52. Following the completion of the sale, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. The trade was a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the sale, the chief executive officer now owns 1,600,904 shares of the company's stock, valued at $162,988,036.24. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,603 shares of company stock valued at $8,353,950. 8.85% of the stock is currently owned by corporate insiders.

UMB Financial Price Performance

Shares of NASDAQ:UMBF traded down $1.28 during trading on Monday, reaching $123.67. The stock had a trading volume of 275,368 shares, compared to its average volume of 364,432. UMB Financial Co. has a 52 week low of $75.03 and a 52 week high of $129.94. The business's 50-day moving average price is $114.87 and its 200 day moving average price is $100.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $6.04 billion, a PE ratio of 15.62 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted 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. 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 during the quarter, compared to analysts' expectations of $398.83 million. During the same quarter in the previous year, the company posted $2.02 earnings per share. As a group, equities analysts predict that UMB Financial Co. will post 9.21 earnings per share for the current year.

UMB Financial Increases Dividend

The company also recently disclosed 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. This is an increase from UMB Financial's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 annualized dividend and a yield of 1.29%. UMB Financial's dividend payout ratio is currently 19.50%.

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.