UMB Financial Co. (NASDAQ:UMBF) Shares Purchased by Citigroup Inc.

Citigroup Inc. grew its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 28.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 86,109 shares of the bank’s stock after purchasing an additional 19,108 shares during the period. Citigroup Inc.’s holdings in UMB Financial were worth $9,051,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in UMB Financial by 2.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after purchasing an additional 49,690 shares during the period. American Century Companies Inc. raised its position in UMB Financial by 6.8% in the second quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock valued at $146,196,000 after purchasing an additional 111,090 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 100,000 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of UMB Financial by 403.7% in 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 during the period. Finally, ProShare Advisors LLC grew its stake in shares of UMB Financial by 102.7% in the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock valued at $62,780,000 after buying an additional 381,278 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Insider Activity at UMB Financial

In related news, Director Greg M. Graves bought 258 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $109.29 per share, with a total value of $28,196.82. Following the completion of the acquisition, the director now owns 36,244 shares of the company’s stock, valued at $3,961,106.76. This trade represents a 0.72 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the sale, the insider now directly owns 5,828 shares in the company, valued at approximately $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,303 shares of company stock valued at $5,830,165. Corporate insiders own 8.85% of the company’s stock.

UMB Financial Price Performance

Shares of UMBF stock opened at $125.49 on Friday. The firm has a market cap of $6.12 billion, a P/E ratio of 15.69 and a beta of 0.78. The firm has a fifty day moving average of $112.80 and a two-hundred day moving average of $98.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. UMB Financial Co. has a 1-year low of $71.04 and a 1-year high of $129.94.

UMB Financial (NASDAQ:UMBF) last posted its quarterly 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. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The business had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. During the same period last year, the firm earned $2.02 earnings per share. As a group, research analysts anticipate 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. Stockholders of record on Tuesday, December 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 10th. UMB Financial’s payout ratio is 20.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley initiated coverage on UMB Financial in a research report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Barclays raised their price target on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. StockNews.com lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada initiated coverage on UMB Financial in a research note on Friday, November 22nd. They set a “sector perform” rating and a $130.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.00.

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.