Cerity Partners LLC Increases Holdings in UMB Financial Co. (NASDAQ:UMBF)

Cerity Partners LLC raised its stake in UMB Financial Co. (NASDAQ:UMBF) by 767.4% during the third quarter, HoldingsChannel reports. The fund owned 21,269 shares of the bank’s stock after buying an additional 18,817 shares during the period. Cerity Partners LLC’s holdings in UMB Financial were worth $2,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew 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 valued at $163,066,000 after purchasing an additional 49,690 shares during the last quarter. American Century Companies Inc. increased its position in shares of UMB Financial by 6.8% during the second 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in UMB Financial by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock worth $140,968,000 after acquiring an additional 100,000 shares during the last quarter. Principal Financial Group Inc. lifted its position in UMB Financial by 403.7% in the 3rd quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after acquiring an additional 694,751 shares in the last quarter. Finally, ProShare Advisors LLC boosted 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 during the last quarter. 87.78% of the stock is currently owned by institutional investors.

Insider Activity at UMB Financial

In other news, insider Robert Brian Beaird sold 854 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the transaction, the insider now owns 5,828 shares of the company’s stock, valued at approximately $719,058.64. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the transaction, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,303 shares of company stock worth $5,830,165. 8.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com downgraded UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. 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. Royal Bank of Canada started coverage on shares of UMB Financial in a report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 price objective for the company. Citigroup started coverage on shares of UMB Financial in a report on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price on the stock. Finally, Morgan Stanley began coverage on shares of UMB Financial in a research note on Thursday, November 21st. They set an “overweight” rating and a $156.00 target price for the company. One research 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. Based on data from MarketBeat, UMB Financial has an average rating of “Moderate Buy” and an average price target of $122.00.

UMB Financial Stock Down 0.4 %

Shares of UMBF stock opened at $125.49 on Monday. 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 Co. has a 12 month low of $71.04 and a 12 month high of $129.94. The stock has a market cap of $6.12 billion, a P/E ratio of 15.69 and a beta of 0.78. The company has a 50 day simple moving average of $112.80 and a two-hundred day simple moving average of $98.97.

UMB Financial (NASDAQ:UMBF) last posted 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. The firm had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period in the prior year, the business posted $2.02 EPS. On average, research analysts expect that UMB Financial Co. will post 9.21 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.40 per share. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 10th. UMB Financial’s payout ratio is presently 19.50%.

UMB Financial 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.