Geode Capital Management LLC Acquires 21,091 Shares of UMB Financial Co. (NASDAQ:UMBF)

Geode Capital Management LLC grew its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 1.9% in the third quarter, HoldingsChannel.com reports. The firm owned 1,114,251 shares of the bank’s stock after buying an additional 21,091 shares during the quarter. Geode Capital Management LLC’s holdings in UMB Financial were worth $117,139,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in UMBF. V Square Quantitative Management LLC bought a new stake in shares of UMB Financial in the 3rd quarter worth approximately $26,000. Covestor Ltd increased its stake 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 acquiring an additional 102 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of UMB Financial during the third quarter valued at approximately $83,000. 1620 Investment Advisors Inc. bought a new position in UMB Financial during the 2nd quarter valued at approximately $128,000. Finally, Acropolis Investment Management LLC bought a new position in shares of UMB Financial during the third quarter valued at $156,000. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Stock Performance

Shares of UMBF opened at $120.26 on Wednesday. UMB Financial Co. has a one year low of $76.00 and a one year high of $129.94. The business has a fifty day moving average of $117.66 and a 200 day moving average of $102.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $5.87 billion, a P/E ratio of 15.03 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.05. The business had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period last year, the firm earned $2.02 earnings per share. As a group, sell-side analysts anticipate that UMB Financial Co. will post 9.21 EPS 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 1.33%. The ex-dividend date of this dividend is Tuesday, December 10th. UMB Financial’s payout ratio is presently 20.00%.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of the company’s stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the sale, the insider now directly owns 5,828 shares in the company, valued at approximately $719,058.64. This represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,603 shares of company stock worth $8,353,950. 8.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup began coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price on the stock. Barclays upped their price objective on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Morgan Stanley assumed coverage on UMB Financial in a report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 target price for the company. Wells Fargo & Company upped their price target on UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, StockNews.com cut UMB Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.00.

UMB Financial Company 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.