Wells Fargo & Company MN Acquires 7,318 Shares of UMB Financial Co. (NASDAQ:UMBF)

Wells Fargo & Company MN increased its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,929 shares of the bank's stock after acquiring an additional 7,318 shares during the period. Wells Fargo & Company MN owned approximately 0.11% of UMB Financial worth $5,861,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of UMBF. USA Financial Formulas boosted its stake in UMB Financial by 124.7% during the 4th quarter. USA Financial Formulas now owns 483 shares of the bank's stock valued at $55,000 after purchasing an additional 268 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of UMB Financial in the 4th quarter worth approximately $96,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of UMB Financial in the 4th quarter worth approximately $103,000. R Squared Ltd acquired a new stake in shares of UMB Financial in the 4th quarter worth approximately $117,000. Finally, HighTower Advisors LLC acquired a new stake in shares of UMB Financial in the 4th quarter worth approximately $201,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UMBF has been the subject of several recent research reports. Morgan Stanley cut their price objective on UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Bank of America initiated coverage on UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price objective for the company. Piper Sandler raised their target price on UMB Financial from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. StockNews.com upgraded UMB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company dropped their price objective on UMB Financial from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.13.

UMB Financial Stock Up 0.4 %

NASDAQ UMBF traded up $0.43 during trading on Thursday, hitting $95.77. The stock had a trading volume of 61,670 shares, compared to its average volume of 723,898. The company has a market capitalization of $7.27 billion, a PE ratio of 10.65 and a beta of 0.71. The company's 50-day moving average price is $99.65 and its two-hundred day moving average price is $110.62. 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 Co. has a 12 month low of $76.00 and a 12 month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm earned $2.29 earnings per share. As a group, sell-side analysts forecast that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The firm also recently announced 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 of this dividend was Monday, March 10th. UMB Financial's payout ratio is 17.80%.

Insiders Place Their Bets

In other UMB Financial news, Director Kevin Charles Gallagher sold 527 shares of UMB Financial stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $114.13, for a total transaction of $60,146.51. Following the completion of the transaction, the director now owns 13,010 shares in the company, valued at approximately $1,484,831.30. The trade was a 3.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction on 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 of the company's stock, valued at $36,313,427.67. The trade was a 1.04 % 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.

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.