Nuveen Asset Management LLC Increases Stake in UMB Financial Co. (NASDAQ:UMBF)

Nuveen Asset Management LLC raised its holdings in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 427,586 shares of the bank's stock after buying an additional 67,480 shares during the period. Nuveen Asset Management LLC owned about 0.88% of UMB Financial worth $48,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of UMB Financial by 73.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,648 shares of the bank's stock worth $4,813,000 after purchasing an additional 18,130 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in UMB Financial by 1.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 83,636 shares of the bank's stock valued at $9,439,000 after purchasing an additional 1,299 shares during the last quarter. Fiduciary Trust Co bought a new position in UMB Financial during the fourth quarter valued at $269,000. Deutsche Bank AG lifted its holdings in shares of UMB Financial by 16.4% in the 4th quarter. Deutsche Bank AG now owns 88,320 shares of the bank's stock worth $9,968,000 after acquiring an additional 12,423 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in shares of UMB Financial by 5.8% in the 4th quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock worth $266,000 after acquiring an additional 130 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the sale, the chief executive officer now directly owns 334,347 shares in the company, valued at $36,313,427.67. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.45% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UMBF shares. Citigroup reaffirmed a "neutral" rating and issued a $127.00 price target (down previously from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Barclays cut their price objective on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada dropped their target price on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, Bank of America started coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $120.33.

UMB Financial Stock Performance

Shares of NASDAQ UMBF opened at $106.86 on Tuesday. The company's fifty day moving average price is $97.93 and its 200 day moving average price is $109.92. UMB Financial Co. has a 1 year low of $78.56 and a 1 year high of $129.94. The company has a market capitalization of $8.11 billion, a PE ratio of 11.89 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The company had revenue of $563.84 million during the quarter, compared to analysts' expectations of $555.79 million. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The firm's revenue for the quarter was up 41.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 earnings per share. On average, research analysts predict that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Tuesday, June 10th. UMB Financial's dividend payout ratio is presently 20.13%.

About UMB Financial

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.

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