Massachusetts Financial Services Co. MA Has $52.91 Million Position in UMB Financial Co. (NASDAQ:UMBF)

Massachusetts Financial Services Co. MA decreased its holdings in UMB Financial Co. (NASDAQ:UMBF) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 503,386 shares of the bank’s stock after selling 14,236 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.03% of UMB Financial worth $52,911,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in UMB Financial in the third quarter worth about $26,000. Covestor Ltd raised its holdings in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after buying an additional 102 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of UMB Financial during the 2nd quarter worth approximately $128,000. CWM LLC boosted its stake in UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after buying an additional 129 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new stake in UMB Financial in the third quarter valued at $203,000. 87.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total transaction of $105,366.52. Following the completion of the sale, the insider now directly owns 5,828 shares of the company’s stock, valued at $719,058.64. The trade was a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,904 shares in the company, valued at $162,988,036.24. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,303 shares of company stock valued at $5,830,165 over the last ninety days. Insiders own 8.85% of the company’s stock.

UMB Financial Stock Up 1.5 %

NASDAQ:UMBF opened at $125.00 on Monday. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 15.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s fifty day moving average price is $110.81 and its two-hundred day moving average price is $97.37. UMB Financial Co. has a 52-week low of $69.96 and a 52-week high of $128.73.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.05. The business had revenue of $716.44 million for 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 quarter in the prior year, the firm posted $2.02 earnings per share. On average, analysts anticipate that UMB Financial Co. will post 9.21 EPS for the current year.

UMB Financial Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.28%. UMB Financial’s payout ratio is currently 19.50%.

Analyst Ratings Changes

Several brokerages have recently commented on UMBF. Wells Fargo & Company boosted their target price on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. StockNews.com cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday. Barclays raised their price objective 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. Piper Sandler boosted their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Citigroup started coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently 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.