Rice Hall James & Associates LLC lowered its position in UMB Financial Corporation (NASDAQ:UMBF) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 249,139 shares of the bank’s stock after selling 12,493 shares during the quarter. Rice Hall James & Associates LLC owned 0.50% of UMB Financial Corporation worth $18,558,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Crossmark Global Holdings Inc. bought a new stake in shares of UMB Financial Corporation in the 3rd quarter worth approximately $348,000. First Midwest Bank Trust Division lifted its position in shares of UMB Financial Corporation by 5.6% in the 3rd quarter. First Midwest Bank Trust Division now owns 16,127 shares of the bank’s stock worth $1,201,000 after acquiring an additional 848 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of UMB Financial Corporation in the 3rd quarter worth approximately $298,000. Hillcrest Asset Management LLC bought a new stake in shares of UMB Financial Corporation in the 2nd quarter worth approximately $11,525,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of UMB Financial Corporation by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,868 shares of the bank’s stock worth $814,000 after acquiring an additional 33 shares during the period. Institutional investors own 82.35% of the company’s stock.
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A number of brokerages have commented on UMBF. Zacks Investment Research downgraded UMB Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $74.00 price objective on shares of UMB Financial Corporation in a research report on Friday, October 6th. Raymond James Financial, Inc. upgraded UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. UBS AG upgraded UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 10th. Finally, BidaskClub downgraded UMB Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. UMB Financial Corporation presently has a consensus rating of “Hold” and an average target price of $77.20.
UMB Financial Corporation (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The company had revenue of $245.20 million during the quarter, compared to the consensus estimate of $257.76 million. UMB Financial Corporation had a net margin of 17.05% and a return on equity of 9.03%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a dividend of $0.275 per share. The ex-dividend date is Thursday, December 7th. This is an increase from UMB Financial Corporation’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a dividend yield of 1.50%. UMB Financial Corporation’s dividend payout ratio is 28.41%.
In related news, Director Timothy R. Murphy purchased 1,500 shares of the stock in a transaction dated Tuesday, September 12th. The stock was bought at an average cost of $67.50 per share, for a total transaction of $101,250.00. Following the completion of the acquisition, the director now owns 4,049 shares of the company’s stock, valued at $273,307.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.09% of the stock is currently owned by corporate insiders.
UMB Financial Corporation Company Profile
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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