Wells Fargo & Company MN Raises Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Wells Fargo & Company MN grew its stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,929 shares of the bank's stock after buying an additional 7,318 shares during the period. Wells Fargo & Company MN owned 0.11% of UMB Financial worth $5,861,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of 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 acquiring an additional 694,751 shares during the last quarter. Barclays PLC boosted its holdings in shares of UMB Financial by 278.8% during the 3rd quarter. Barclays PLC now owns 231,482 shares of the bank's stock valued at $24,329,000 after purchasing an additional 170,375 shares during the last quarter. Norges Bank purchased a new position in shares of UMB Financial during the fourth quarter valued at about $15,835,000. Wellington Management Group LLP lifted its position in shares of UMB Financial by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock worth $228,122,000 after buying an additional 102,104 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in UMB Financial during the fourth quarter valued at approximately $11,357,000. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Trading Up 0.5 %

UMB Financial stock opened at $91.51 on Friday. UMB Financial Co. has a one year low of $76.00 and a one year high of $129.94. The stock has a market cap of $6.65 billion, a PE ratio of 10.18 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50-day moving average of $100.79 and a two-hundred day moving average of $110.87.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same period in the previous year, the firm posted $2.29 earnings per share. On average, research analysts anticipate that UMB Financial Co. will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Monday, March 10th. UMB Financial's payout ratio is 17.80%.

Insiders Place Their Bets

In other UMB Financial news, Director Kevin Charles Gallagher sold 527 shares of UMB Financial stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $114.13, for a total transaction of $60,146.51. Following the completion of the transaction, the director now owns 13,010 shares in the company, valued at approximately $1,484,831.30. This trade represents a 3.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO J Mariner Kemper sold 3,500 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the sale, the chief executive officer now owns 334,347 shares in the company, valued at $36,313,427.67. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. 5.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on UMBF shares. Piper Sandler lifted their price target on UMB Financial from $142.00 to $143.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on shares of UMB Financial from $120.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Bank of America assumed coverage on UMB Financial in a research report on Wednesday. They set a "buy" rating and a $105.00 price target on the stock. Barclays cut their price objective on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $128.00 price target on shares of UMB Financial in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $122.13.

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.

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