Citigroup Inc. Increases Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Citigroup Inc. lifted its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 28.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,109 shares of the bank’s stock after buying an additional 19,108 shares during the period. Citigroup Inc. owned about 0.18% of UMB Financial worth $9,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of UMBF. Allspring Global Investments Holdings LLC grew its stake in shares of UMB Financial by 2.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after purchasing an additional 49,690 shares during the period. American Century Companies Inc. boosted its holdings in UMB Financial by 6.8% during the second quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock worth $146,196,000 after buying an additional 111,090 shares in the last quarter. Dimensional Fund Advisors LP grew its position in UMB Financial by 6.3% during the second 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 period. Principal Financial Group Inc. increased its holdings in 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. Finally, ProShare Advisors LLC lifted its position in shares of UMB Financial by 102.7% during the 2nd quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock valued at $62,780,000 after acquiring an additional 381,278 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UMBF. StockNews.com downgraded UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. Barclays raised their price target on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Royal Bank of Canada assumed coverage on shares of UMB Financial in a report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 target price for the company. Finally, Morgan Stanley started coverage on shares of UMB Financial in a report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

UMB Financial Price Performance

UMB Financial stock opened at $125.49 on Friday. The stock has a market capitalization of $6.12 billion, a P/E ratio of 15.69 and a beta of 0.78. UMB Financial Co. has a 12-month low of $71.04 and a 12-month high of $129.94. 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’s 50-day moving average is $112.80 and its two-hundred day moving average is $98.77.

UMB Financial (NASDAQ:UMBF) last announced its 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. The firm had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter last year, the business earned $2.02 earnings per share. Equities analysts predict that UMB Financial Co. will post 9.21 earnings per share for the current year.

UMB Financial Increases Dividend

The firm 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 $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s payout ratio is currently 20.00%.

Insider Activity at UMB Financial

In related news, insider Robert Brian Beaird sold 854 shares of the company’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following 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. Over the last ninety days, insiders sold 55,303 shares of company stock worth $5,830,165. 8.85% of the stock is currently owned by insiders.

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.