UMB Financial Co. (NASDAQ:UMBF) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,000 shares of the bank’s stock after selling 9,000 shares during the period. Hennessy Advisors Inc.’s holdings in UMB Financial were worth $1,016,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UMBF. Cerity Partners LLC increased its stake in UMB Financial by 767.4% in the 3rd quarter. Cerity Partners LLC now owns 21,269 shares of the bank’s stock valued at $2,236,000 after purchasing an additional 18,817 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of UMB Financial by 403.7% in the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after buying an additional 694,751 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of UMB Financial by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock worth $140,968,000 after buying an additional 100,000 shares during the last quarter. Interval Partners LP purchased a new stake in shares of UMB Financial in the 2nd quarter worth about $3,286,000. Finally, King Luther Capital Management Corp grew its stake in UMB Financial by 229.6% in the 3rd quarter. King Luther Capital Management Corp now owns 47,116 shares of the bank’s stock valued at $4,952,000 after acquiring an additional 32,820 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robert Brian Beaird sold 854 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 5,828 shares of the company’s stock, valued at approximately $719,058.64. This represents a 12.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $124.95, for a total transaction of $3,036,285.00. Following the completion of the transaction, the chief executive officer now owns 1,552,304 shares in the company, valued at $193,960,384.80. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,303 shares of company stock valued at $5,879,967 over the last quarter. Company insiders own 8.85% of the company’s stock.

UMB Financial Price Performance

UMBF stock opened at $119.58 on Friday. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 14.95 and a beta of 0.82. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. UMB Financial Co. has a 52-week low of $76.00 and a 52-week high of $129.94. The stock’s fifty day simple moving average is $119.41 and its 200-day simple moving average is $107.54.

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, topping analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The firm had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same period last year, the company earned $2.02 EPS. Equities research analysts expect that UMB Financial Co. will post 9.23 EPS for the current year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were given a dividend of $0.40 per share. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.60 annualized dividend and a yield of 1.34%. UMB Financial’s dividend payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on UMBF. Royal Bank of Canada started coverage on shares of UMB Financial in a research report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 target price for the company. Morgan Stanley initiated coverage on UMB Financial in a research report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price objective for the company. Citigroup started coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. StockNews.com cut UMB Financial from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Finally, Barclays increased 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. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, UMB Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

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.