Basswood Capital Management L.L.C. Has $12.80 Million Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Basswood Capital Management L.L.C. lessened its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 47.7% in the third quarter, HoldingsChannel.com reports. The firm owned 121,787 shares of the bank’s stock after selling 111,094 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in UMB Financial were worth $12,801,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in UMBF. Price T Rowe Associates Inc. MD raised its position in shares of UMB Financial by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,755 shares of the bank’s stock worth $2,589,000 after acquiring an additional 1,633 shares in the last quarter. CWM LLC increased its holdings in UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in UMB Financial by 37.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,553 shares of the bank’s stock worth $380,000 after purchasing an additional 1,246 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in UMB Financial in the second quarter valued at approximately $3,808,000. Finally, AlphaMark Advisors LLC bought a new position in shares of UMB Financial during the 2nd quarter worth approximately $321,000. Institutional investors own 87.78% of the company’s stock.

UMB Financial Price Performance

Shares of NASDAQ UMBF opened at $125.49 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50-day simple moving average is $112.80 and its 200 day simple moving average is $98.97. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 15.69 and a beta of 0.78. UMB Financial Co. has a fifty-two week low of $71.04 and a fifty-two week high of $129.94.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, beating 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 company had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same quarter last year, the company earned $2.02 earnings per share. As a group, research analysts anticipate that UMB Financial Co. will post 9.21 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.28%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 10th. UMB Financial’s payout ratio is currently 19.50%.

Insider Activity

In other news, Director Kris A. Robbins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now directly owns 3,211 shares of the company’s stock, valued at $329,127.50. This represents a 60.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was 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 directly owns 1,600,904 shares in the company, valued at approximately $162,988,036.24. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,303 shares of company stock worth $5,830,165 over the last quarter. Insiders own 8.85% of the company’s stock.

Analysts Set New Price Targets

UMBF has been the subject of several research analyst reports. Morgan Stanley initiated coverage on shares of UMB Financial in a research note on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price objective for the company. Citigroup initiated coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target for the company. StockNews.com lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. 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 target price for the company. Finally, Barclays upped their price target on UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

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.