JPMorgan Chase & Co. Sells 46,392 Shares of UMB Financial Co. (NASDAQ:UMBF)

JPMorgan Chase & Co. trimmed its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 12.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 317,180 shares of the bank’s stock after selling 46,392 shares during the quarter. JPMorgan Chase & Co.’s holdings in UMB Financial were worth $33,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in UMB Financial during the third quarter valued at $26,000. Covestor Ltd grew its stake in shares of UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after purchasing an additional 102 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of UMB Financial during the 3rd quarter valued at about $83,000. Acropolis Investment Management LLC bought a new position in shares of UMB Financial in the 3rd quarter worth approximately $156,000. Finally, Heritage Family Offices LLP purchased a new position in shares of UMB Financial in the third quarter worth approximately $203,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

UMB Financial Stock Down 1.2 %

Shares of UMBF opened at $111.91 on Tuesday. The business’s 50 day moving average is $119.34 and its 200 day moving average is $105.69. 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 $76.00 and a 12-month high of $129.94. The company has a market capitalization of $5.46 billion, a PE ratio of 13.99 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data 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. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The firm had revenue of $716.44 million for the quarter, compared to analysts’ expectations of $398.83 million. During the same quarter last year, the business posted $2.02 earnings per share. Research analysts expect that UMB Financial Co. will post 9.21 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.60 annualized dividend and a yield of 1.43%. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s payout ratio is presently 20.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on UMBF. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Wells Fargo & Company raised their target price on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. 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. Royal Bank of Canada initiated coverage on UMB Financial in a research note on Friday, November 22nd. They issued a “sector perform” rating and a $130.00 price objective on the stock. Finally, Barclays boosted their price objective on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Insider Buying and Selling at UMB Financial

In related news, EVP John Pauls sold 849 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $110.42, for a total transaction of $93,746.58. Following the sale, the executive vice president now owns 6,483 shares of the company’s stock, valued at $715,852.86. This represents a 11.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Brian Beaird sold 854 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total transaction of $105,366.52. Following the transaction, the insider now owns 5,828 shares of the company’s stock, valued at $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,303 shares of company stock valued at $5,879,967 in the last 90 days. Insiders own 8.85% of the company’s stock.

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.