Heritage Wealth Management LLC Raises Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Heritage Wealth Management LLC increased its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 18.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 814 shares of the bank’s stock after buying an additional 125 shares during the period. Heritage Wealth Management LLC’s holdings in UMB Financial were worth $79,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Mariner LLC increased its stake in shares of UMB Financial by 1.7% during the second quarter. Mariner LLC now owns 11,333 shares of the bank’s stock worth $1,055,000 after buying an additional 184 shares during the period. Parallel Advisors LLC increased its stake in shares of UMB Financial by 47.2% during the third quarter. Parallel Advisors LLC now owns 574 shares of the bank’s stock worth $55,000 after buying an additional 184 shares during the period. Toronto Dominion Bank increased its stake in shares of UMB Financial by 40.8% during the second quarter. Toronto Dominion Bank now owns 701 shares of the bank’s stock worth $65,000 after buying an additional 203 shares during the period. Tandem Investment Advisors Inc. increased its stake in shares of UMB Financial by 3.6% during the third quarter. Tandem Investment Advisors Inc. now owns 5,953 shares of the bank’s stock worth $576,000 after buying an additional 208 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of UMB Financial by 4.2% during the second quarter. Bank of Montreal Can now owns 6,279 shares of the bank’s stock worth $598,000 after buying an additional 254 shares during the period. Hedge funds and other institutional investors own 83.99% of the company’s stock.

Several brokerages have commented on UMBF. Wells Fargo & Company lowered shares of UMB Financial from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $115.00 to $110.00 in a research note on Tuesday, January 4th. Janney Montgomery Scott upgraded shares of UMB Financial from a “neutral” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday, December 21st.

In other news, EVP Uma Wilson sold 275 shares of the firm’s stock in a transaction on Thursday, November 18th. The stock was sold at an average price of $106.97, for a total value of $29,416.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Mariner Kemper sold 2,145 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $100.52, for a total value of $215,615.40. The disclosure for this sale can be found here. Insiders sold 6,787 shares of company stock valued at $712,346 in the last quarter. 10.16% of the stock is currently owned by company insiders.

UMBF stock opened at $111.41 on Friday. The company has a market capitalization of $5.39 billion, a P/E ratio of 12.55 and a beta of 0.97. UMB Financial Co. has a twelve month low of $68.00 and a twelve month high of $111.83. The business has a 50 day simple moving average of $105.66 and a 200-day simple moving average of $98.02. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Monday, October 25th. The bank reported $1.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.15. The firm had revenue of $317.67 million during the quarter, compared to the consensus estimate of $322.80 million. UMB Financial had a return on equity of 14.22% and a net margin of 30.26%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. Research analysts predict that UMB Financial Co. will post 7.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Friday, December 10th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, December 9th. UMB Financial’s payout ratio is 16.67%.

About UMB Financial

UMB Financial Corp. operates as a financial holding company, which engages in the provision of bank and asset services. It operates through the following segments: Commercial Banking, Institutional Banking, and Personal Banking. The Commercial Banking segment serves the commercial lending and leasing, capital markets, and treasury management needs of the company’s mid-market businesses and governmental entities by offering various products and services.

See Also: Growth and Income Funds

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Institutional Ownership by Quarter for UMB Financial (NASDAQ:UMBF)

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