US Bancorp DE Sells 4,163 Shares of UMB Financial Co. (NASDAQ:UMBF)

US Bancorp DE cut its position in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 31.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,923 shares of the bank's stock after selling 4,163 shares during the quarter. US Bancorp DE's holdings in UMB Financial were worth $938,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of UMBF. Millennium Management LLC lifted its stake in UMB Financial by 567.1% in the second quarter. Millennium Management LLC now owns 733,734 shares of the bank's stock worth $61,208,000 after purchasing an additional 623,751 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of UMB Financial by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock worth $409,321,000 after buying an additional 394,578 shares during the period. ProShare Advisors LLC lifted 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 acquiring an additional 381,278 shares during the last quarter. American Century Companies Inc. boosted its holdings in UMB Financial by 6.8% during the 2nd quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank's stock valued at $146,196,000 after acquiring an additional 111,090 shares during the period. Finally, AQR Capital Management LLC grew its position in UMB Financial by 52.1% during the 2nd quarter. AQR Capital Management LLC now owns 299,270 shares of the bank's stock worth $24,639,000 after acquiring an additional 102,467 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UMBF. Wells Fargo & Company increased their price objective on UMB Financial from $107.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Citigroup initiated coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a "buy" rating and a $127.00 price target for the company. Piper Sandler boosted their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Finally, Barclays upped their price objective 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. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.00.

Insiders Place Their Bets

In other news, EVP John Pauls sold 849 shares of UMB Financial 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 completion of the transaction, the executive vice president now directly owns 6,483 shares in the company, valued at approximately $715,852.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $108.83, for a total value of $2,644,569.00. Following the completion of the transaction, the chief executive officer now directly owns 1,576,604 shares of the company's stock, valued at approximately $171,581,813.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Pauls sold 849 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $110.42, for a total transaction of $93,746.58. Following the completion of the transaction, the executive vice president now owns 6,483 shares in the company, valued at approximately $715,852.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,449 shares of company stock worth $5,724,799. 8.85% of the stock is owned by corporate insiders.

UMB Financial Trading Up 0.4 %

Shares of NASDAQ:UMBF traded up $0.43 on Friday, hitting $122.11. The company had a trading volume of 330,683 shares, compared to its average volume of 366,181. UMB Financial Co. has a 1 year low of $65.48 and a 1 year high of $125.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The firm's 50-day simple moving average is $106.62 and its two-hundred day simple moving average is $94.47. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 15.26 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS 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 business had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. During the same period last year, the business posted $2.02 earnings per share. Equities analysts anticipate that UMB Financial Co. will post 9.33 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.31%. This is a boost from UMB Financial's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. UMB Financial's dividend payout ratio is presently 20.00%.

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.