UMB Financial Corporation $UMBF Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. trimmed its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 7.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,186 shares of the bank’s stock after selling 31,461 shares during the quarter. Congress Asset Management Co.’s holdings in UMB Financial were worth $47,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMBF. First National Bank of Omaha acquired a new stake in UMB Financial during the 2nd quarter valued at approximately $1,053,000. Bank of America Corp DE acquired a new position in shares of UMB Financial in the 2nd quarter worth approximately $129,153,000. BlackRock Inc. acquired a new position in shares of UMB Financial in the 2nd quarter worth approximately $1,458,386,000. Ceredex Value Advisors LLC bought a new stake in shares of UMB Financial in the 2nd quarter valued at $14,112,000. Finally, NFJ Investment Group LLC acquired a new stake in shares of UMB Financial during the second quarter worth $47,026,000. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Stock Up 0.2%

Shares of NASDAQ UMBF traded up $0.28 during trading on Tuesday, hitting $130.08. 559,519 shares of the company traded hands, compared to its average volume of 894,516. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.64 and a beta of 0.82. The business’s fifty day moving average is $141.51 and its 200 day moving average is $133.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. UMB Financial Corporation has a fifty-two week low of $68.92 and a fifty-two week high of $144.36.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.45. The business had revenue of $778.00 million during the quarter, compared to analyst estimates of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same period in the previous year, the company posted $2.96 EPS. Equities research analysts predict that UMB Financial Corporation will post 13.53 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, September 10th. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s payout ratio is 16.65%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UMBF. Zacks Research downgraded shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their price target on shares of UMB Financial from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, October 1st. TD Cowen lowered their price objective on UMB Financial from $166.00 to $152.00 and set a “buy” rating for the company in a research report on Monday. Barclays reissued an “overweight” rating and issued a $175.00 price objective (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $170.00 target price (up from $168.00) on shares of UMB Financial in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

Insider Buying and Selling at UMB Financial

In other news, Director Susan G. Murphy sold 1,377 shares of UMB Financial stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $145.55, for a total transaction of $200,422.35. Following the completion of the transaction, the director directly owned 10,635 shares in the company, valued at $1,547,924.25. This trade represents a 11.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Phillip Mason sold 800 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total transaction of $117,600.00. Following the sale, the insider directly owned 8,894 shares of the company’s stock, valued at approximately $1,307,418. The trade was a 8.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,544 shares of company stock worth $3,775,862 in the last ninety days. 5.33% of the stock is currently owned by corporate insiders.

About UMB Financial

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to businesses, institutions, governments and individuals. The company traces its history to 1913 and has developed a regional banking franchise with additional capabilities serving customers nationwide.

UMB’s business activities include commercial and personal banking, treasury management, lending, deposit services and payment solutions.