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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of UMBF. Dynamic Technology Lab Private Ltd purchased a new position in shares of UMB Financial during the fourth quarter valued at about $2,190,000. US Bancorp DE boosted its position in UMB Financial by 46.9% during 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 in the last quarter. Northern Trust Corp grew its holdings in shares of UMB Financial by 16.2% during the 4th quarter. Northern Trust Corp now owns 637,072 shares of the bank's stock worth $71,900,000 after acquiring an additional 88,705 shares during the period. Inceptionr LLC bought a new position in shares of UMB Financial in the 4th quarter worth approximately $305,000. Finally, Vontobel Holding Ltd. lifted its stake in shares of UMB Financial by 107.8% in 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 period. Institutional investors own 87.78% of the company's stock.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer now directly owns 288,945 shares in the company, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.45% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UMBF. Wells Fargo & Company lifted their price target on UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Morgan Stanley dropped their target price on shares of 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 assumed coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price on the stock. Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada cut their price objective on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.13.

UMB Financial Stock Down 1.7%

Shares of UMBF traded down $1.74 during trading hours on Thursday, hitting $103.11. The company had a trading volume of 411,630 shares, compared to its average volume of 524,341. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 11.47 and a beta of 0.75. The firm has a fifty day moving average price of $98.95 and a 200-day moving average price of $107.99. UMB Financial Co. has a 52-week low of $79.25 and a 52-week high of $129.94. 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 issued its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.37. The business 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 business's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 earnings per share. On average, equities research analysts forecast that UMB Financial Co. will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be given a $0.40 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.55%. UMB Financial's dividend payout ratio (DPR) 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.