Congress Asset Management Co. MA Sells 4,676 Shares of UMB Financial Co. (NASDAQ:UMBF)

Congress Asset Management Co. MA lessened its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 4.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 102,765 shares of the bank’s stock after selling 4,676 shares during the period. Congress Asset Management Co. MA’s holdings in UMB Financial were worth $8,940,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Quadrature Capital Ltd bought a new position in shares of UMB Financial during the fourth quarter valued at $372,000. PNC Financial Services Group Inc. lifted its holdings in UMB Financial by 20.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,366 shares of the bank’s stock valued at $532,000 after purchasing an additional 1,080 shares during the last quarter. Vanguard Group Inc. boosted its position in UMB Financial by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,310,807 shares of the bank’s stock valued at $360,168,000 after buying an additional 44,150 shares in the last quarter. Comerica Bank grew its stake in UMB Financial by 1.2% during the fourth quarter. Comerica Bank now owns 18,816 shares of the bank’s stock worth $1,572,000 after buying an additional 224 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of UMB Financial during the fourth quarter worth approximately $1,145,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on UMBF shares. Keefe, Bruyette & Woods raised UMB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $93.00 to $98.00 in a report on Friday, May 31st. StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, March 16th. Barclays upgraded UMB Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $91.00 to $95.00 in a report on Tuesday, April 30th. Finally, Wells Fargo & Company lifted their price target on UMB Financial from $88.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.83.

UMB Financial Trading Down 1.2 %

NASDAQ:UMBF traded down $0.94 during trading hours on Friday, hitting $79.60. 718,305 shares of the stock were exchanged, compared to its average volume of 309,402. The company has a market capitalization of $3.88 billion, a P/E ratio of 10.57 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $81.85 and its two-hundred day moving average is $81.61. UMB Financial Co. has a twelve month low of $56.31 and a twelve month high of $87.36.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Monday, April 29th. The bank reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.62. The company had revenue of $405.19 million during the quarter, compared to the consensus estimate of $369.80 million. UMB Financial had a return on equity of 14.30% and a net margin of 14.59%. On average, sell-side analysts anticipate that UMB Financial Co. will post 8.41 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, June 10th. UMB Financial’s dividend payout ratio (DPR) is presently 20.72%.

Insider Transactions at UMB Financial

In related news, CEO J Mariner Kemper sold 11,170 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.28, for a total value of $952,577.60. Following the transaction, the chief executive officer now directly owns 1,738,604 shares in the company, valued at $148,268,149.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 19,012 shares of company stock worth $1,601,971 in the last quarter. 8.85% of the stock is owned by company insiders.

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.