Wellington Management Group LLP Lowers Position in UMB Financial Corporation $UMBF

Wellington Management Group LLP trimmed its position in UMB Financial Corporation (NASDAQ:UMBF) by 37.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,687,247 shares of the bank’s stock after selling 1,019,877 shares during the quarter. Wellington Management Group LLP’s holdings in UMB Financial were worth $240,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First National Bank of Omaha bought a new stake in UMB Financial during the 2nd quarter valued at approximately $1,053,000. BlackRock Inc. bought a new position in UMB Financial in the 2nd quarter worth approximately $1,458,386,000. NFJ Investment Group LLC purchased a new stake in UMB Financial during the 2nd quarter valued at approximately $47,026,000. Ceredex Value Advisors LLC purchased a new stake in UMB Financial during the 2nd quarter valued at approximately $14,112,000. Finally, Commerce Bank purchased a new stake in UMB Financial during the 2nd quarter valued at approximately $4,197,000. Institutional investors own 87.78% of the company’s stock.

UMB Financial Price Performance

UMBF stock opened at $144.59 on Monday. UMB Financial Corporation has a 52 week low of $103.38 and a 52 week high of $153.32. The firm has a market capitalization of $10.98 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77. The company has a fifty day simple moving average of $144.86 and a two-hundred day simple moving average of $130.83. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.45. The firm had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same period in the previous year, the firm posted $2.96 EPS. Analysts anticipate that UMB Financial Corporation will post 13.48 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 10th. This is an increase from UMB Financial’s previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 1.4%. UMB Financial’s payout ratio is presently 16.65%.

Insider Activity at UMB Financial

In other news, CEO J Mariner Kemper sold 15,062 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total value of $2,237,460.10. Following the completion of the transaction, the chief executive officer owned 1,491,138 shares in the company, valued at approximately $221,508,549.90. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikki Farentino Newton sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total value of $297,200.00. Following the transaction, the insider directly owned 11,981 shares in the company, valued at approximately $1,780,376.60. This represents a 14.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,171 shares of company stock valued at $4,919,826 over the last ninety days. 5.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

UMBF has been the topic of several research analyst reports. Wells Fargo & Company set a $160.00 target price on shares of UMB Financial and gave the stock an “equal weight” rating in a report on Monday, August 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $170.00 target price (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Zacks Research downgraded shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Raymond James Financial started coverage on shares of UMB Financial in a research note on Thursday. They issued an “outperform” rating and a $165.00 price target on the stock. Finally, TD Cowen reissued a “buy” rating and set a $166.00 price objective (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.54.

UMB Financial Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.