Rafferty Asset Management LLC Sells 8,148 Shares of UMB Financial Co. (NASDAQ:UMBF)

Rafferty Asset Management LLC cut its holdings in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,769 shares of the bank's stock after selling 8,148 shares during the period. Rafferty Asset Management LLC owned 0.15% of UMB Financial worth $8,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of UMB Financial in the fourth quarter worth $2,190,000. US Bancorp DE increased its holdings in UMB Financial by 46.9% in the 4th quarter. US Bancorp DE now owns 13,105 shares of the bank's stock valued at $1,479,000 after acquiring an additional 4,182 shares during the last quarter. Northern Trust Corp lifted its stake in UMB Financial by 16.2% in the 4th quarter. Northern Trust Corp now owns 637,072 shares of the bank's stock worth $71,900,000 after purchasing an additional 88,705 shares in the last quarter. Inceptionr LLC purchased a new stake in UMB Financial in the 4th quarter worth $305,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of UMB Financial by 107.8% during the 4th quarter. Vontobel Holding Ltd. now owns 5,545 shares of the bank's stock valued at $626,000 after purchasing an additional 2,877 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 3,500 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $108.61, for a total transaction of $380,135.00. Following the transaction, the chief executive officer now owns 334,347 shares of the company's stock, valued at approximately $36,313,427.67. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UMBF. Morgan Stanley reduced their target price on UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Bank of America initiated coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price objective on the stock. Royal Bank of Canada decreased their price objective on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. StockNews.com lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Finally, Barclays reduced their price target 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. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.33.

UMB Financial Trading Down 3.6%

Shares of UMB Financial stock traded down $3.83 on Wednesday, reaching $102.37. The company had a trading volume of 408,152 shares, compared to its average volume of 515,444. The firm's 50-day moving average price is $98.09 and its two-hundred day moving average price is $109.89. UMB Financial Co. has a 1 year low of $78.56 and a 1 year high of $129.94. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 11.39 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick 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 EPS for the quarter, topping the consensus estimate of $2.21 by $0.37. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The company had revenue of $563.84 million during the quarter, compared to analyst estimates of $555.79 million. During the same period in the previous year, the firm earned $2.47 earnings per share. UMB Financial's quarterly revenue was up 41.4% compared to the same quarter last year. As a group, research analysts predict that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.56%. UMB Financial's payout ratio is 20.13%.

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.