Renaissance Technologies LLC Lowers Stake in UMB Financial Co. (NASDAQ:UMBF)

Renaissance Technologies LLC cut its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 56.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,000 shares of the bank's stock after selling 70,400 shares during the quarter. Renaissance Technologies LLC owned about 0.11% of UMB Financial worth $6,094,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UMBF. Invesco Ltd. boosted its holdings in UMB Financial by 31.4% in the 4th quarter. Invesco Ltd. now owns 309,980 shares of the bank's stock valued at $34,984,000 after purchasing an additional 74,038 shares during the last quarter. Bank of Montreal Can grew its position in UMB Financial by 16.5% in the fourth quarter. Bank of Montreal Can now owns 6,270 shares of the bank's stock worth $708,000 after acquiring an additional 886 shares during the period. Federated Hermes Inc. increased its stake in UMB Financial by 107.7% during the fourth quarter. Federated Hermes Inc. now owns 118,527 shares of the bank's stock worth $13,377,000 after acquiring an additional 61,468 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in UMB Financial in the fourth quarter valued at $2,190,000. Finally, Wells Fargo & Company MN lifted its stake in shares of UMB Financial by 16.4% in the 4th quarter. Wells Fargo & Company MN now owns 51,929 shares of the bank's stock valued at $5,861,000 after purchasing an additional 7,318 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on UMBF shares. Barclays dropped their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup reiterated a "neutral" rating and issued a $127.00 target price (down previously from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. StockNews.com upgraded UMB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on UMB Financial from $120.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley decreased their target price on UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, UMB Financial has a consensus rating of "Moderate Buy" and a consensus price target of $122.13.

Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of the firm's stock in a transaction dated 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 trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gallagher sold 527 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $114.13, for a total value of $60,146.51. Following the completion of the sale, the director now directly owns 13,010 shares of the company's stock, valued at $1,484,831.30. The trade was a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.45% of the company's stock.

UMB Financial Stock Up 0.7 %

UMBF stock traded up $0.68 during mid-day trading on Thursday, reaching $96.02. The company had a trading volume of 72,998 shares, compared to its average volume of 724,130. UMB Financial Co. has a fifty-two week low of $76.00 and a fifty-two week high of $129.94. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 10.68 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a fifty day simple moving average of $99.65 and a 200 day simple moving average of $110.62.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same period in the prior year, the company earned $2.29 earnings per share. Analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Monday, March 10th. UMB Financial's dividend payout ratio (DPR) is 17.80%.

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.