Wedge Capital Management L L P NC Decreases Stake in UMB Financial Co. (NASDAQ:UMBF)

Wedge Capital Management L L P NC reduced its holdings in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 8.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,695 shares of the bank's stock after selling 5,125 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.07% of UMB Financial worth $5,327,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in UMBF. Rothschild Investment LLC raised its position in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after acquiring an additional 221 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of UMB Financial by 703.2% during the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after purchasing an additional 436 shares during the last quarter. Covestor Ltd raised its holdings in shares of UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after purchasing an additional 124 shares during the period. Marquette Asset Management LLC acquired a new stake in UMB Financial in the 1st quarter valued at about $82,000. Finally, Venturi Wealth Management LLC acquired a new stake in UMB Financial in the 4th quarter valued at about $96,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays cut their price objective on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Piper Sandler reaffirmed an "overweight" rating and set a $137.00 price objective (up from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. Wells Fargo & Company increased their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley reduced their target price on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $123.13.

UMB Financial Stock Performance

Shares of UMBF stock traded up $1.10 on Monday, hitting $105.89. The company's stock had a trading volume of 431,996 shares, compared to its average volume of 523,606. UMB Financial Co. has a fifty-two week low of $78.91 and a fifty-two week high of $129.94. The company has a market capitalization of $8.04 billion, a PE ratio of 11.78 and a beta of 0.75. The stock's 50 day moving average is $98.21 and its 200-day moving average is $108.16. 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 released its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same period last year, the firm posted $2.47 earnings per share. UMB Financial's revenue was up 41.4% compared to the same quarter last year. Equities research analysts expect that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer now owns 288,945 shares of the company's stock, valued at $29,417,490.45. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.45% of the stock is currently owned by company insiders.

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.