Wellington Management Group LLP Sells 680,606 Shares of UMB Financial Co. (NASDAQ:UMBF)

Wellington Management Group LLP decreased its position in UMB Financial Co. (NASDAQ:UMBF) by 26.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,919,181 shares of the bank’s stock after selling 680,606 shares during the quarter. Wellington Management Group LLP’s holdings in UMB Financial were worth $201,725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd raised its holdings in 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 during the period. CWM LLC increased its stake in shares of 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 during the period. Truist Financial Corp lifted its position in shares of UMB Financial by 3.3% during the 2nd quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock worth $354,000 after purchasing an additional 136 shares during the last quarter. Commerce Bank boosted its stake in UMB Financial by 0.3% during the 3rd quarter. Commerce Bank now owns 41,708 shares of the bank’s stock valued at $4,384,000 after purchasing an additional 142 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in UMB Financial by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after buying an additional 200 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at UMB Financial

In related news, CEO J Mariner Kemper sold 24,300 shares of UMB Financial 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 transaction, the chief executive officer now owns 1,552,304 shares of the company’s stock, valued at $193,960,384.80. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg M. Graves bought 258 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $109.29 per share, with a total value of $28,196.82. Following the purchase, the director now directly owns 36,244 shares of the company’s stock, valued at approximately $3,961,106.76. This represents a 0.72 % increase in their position. The disclosure for this purchase 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 currently owned by company insiders.

UMB Financial Price Performance

UMB Financial stock opened at $124.95 on Monday. The business has a 50 day simple moving average of $114.87 and a 200 day simple moving average of $100.38. UMB Financial Co. has a one year low of $75.03 and a one year high of $129.94. The company has a market capitalization of $6.10 billion, a PE ratio of 15.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The company had revenue of $716.44 million during the quarter, compared to analysts’ expectations of $398.83 million. During the same quarter in the previous year, the company posted $2.02 EPS. On average, sell-side analysts forecast that UMB Financial Co. will post 9.21 EPS for the current fiscal year.

UMB Financial Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.28%. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio (DPR) is 19.50%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley initiated coverage on UMB Financial in a report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price target for the company. StockNews.com downgraded shares of UMB Financial from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Barclays boosted their price objective on shares of UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup assumed 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 for the company. Finally, Wells Fargo & Company raised their price objective on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, UMB Financial has an average rating of “Moderate Buy” and an average target price 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.