Victory Capital Management Inc. Decreases Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Victory Capital Management Inc. cut its holdings in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,627,567 shares of the bank's stock after selling 371,908 shares during the period. Victory Capital Management Inc. owned 3.34% of UMB Financial worth $171,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised 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 valued at $91,114,000 after purchasing an additional 694,751 shares in the last quarter. Millennium Management LLC lifted its stake in shares of 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 acquiring an additional 623,751 shares during the period. Vanguard Group Inc. raised its position in shares of UMB Financial by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock worth $409,321,000 after purchasing an additional 394,578 shares during the period. ProShare Advisors LLC increased its stake in UMB Financial by 102.7% during 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 in the last quarter. Finally, Emerald Advisers LLC acquired a new position in UMB Financial during the third quarter worth $12,867,000. Institutional investors own 87.78% of the company's stock.

Insider Activity at UMB Financial

In related news, Director Greg M. Graves acquired 258 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now owns 36,244 shares of the company's stock, valued at $3,961,106.76. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Kris A. Robbins sold 5,000 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares in the company, valued at $329,127.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greg M. Graves acquired 258 shares of UMB Financial stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $109.29 per share, for a total transaction of $28,196.82. Following the completion of the transaction, the director now directly owns 36,244 shares of the company's stock, valued at approximately $3,961,106.76. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 54,449 shares of company stock valued at $5,724,799. 8.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UMBF. Barclays upped their target price on shares of UMB Financial from $118.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their target price on UMB Financial from $107.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Citigroup started coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a "buy" rating and a $127.00 target price for the company. Finally, Piper Sandler raised their price target 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. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, UMB Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.00.

UMB Financial Price Performance

UMBF traded down $2.01 on Wednesday, hitting $123.80. 376,623 shares of the company's stock traded hands, compared to its average volume of 368,421. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 15.48 and a beta of 0.78. The company's 50 day simple moving average is $107.52 and its 200-day simple moving average is $95.14. UMB Financial Co. has a one year low of $69.65 and a one year high of $128.73. 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 issued its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.05. The business 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 period in the prior year, the firm earned $2.02 EPS. As a group, research analysts anticipate that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

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

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.