Wedge Capital Management L L P NC Reduces Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Wedge Capital Management L L P NC reduced its stake in UMB Financial Co. (NASDAQ:UMBF) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,877 shares of the bank’s stock after selling 767 shares during the period. Wedge Capital Management L L P NC owned approximately 0.09% of UMB Financial worth $4,717,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new stake in UMB Financial during the 2nd quarter worth approximately $128,000. CWM LLC increased its holdings in shares of UMB Financial by 7.1% in the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of UMB Financial in the first quarter worth $252,000. SG Americas Securities LLC boosted its stake in UMB Financial by 69.5% during the third quarter. SG Americas Securities LLC now owns 2,478 shares of the bank’s stock valued at $260,000 after buying an additional 1,016 shares during the period. Finally, Profund Advisors LLC grew its position in UMB Financial by 6.7% during the second quarter. Profund Advisors LLC now owns 3,493 shares of the bank’s stock worth $291,000 after buying an additional 220 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at UMB Financial

In other news, Director Tamara Peterman bought 396 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the purchase, the director now directly owns 7,407 shares in the company, valued at $737,440.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Amy Harris sold 736 shares of UMB Financial stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $95.05, for a total transaction of $69,956.80. Following the completion of the transaction, the executive vice president now directly owns 2,899 shares in the company, valued at approximately $275,549.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tamara Peterman purchased 396 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $99.56 per share, for a total transaction of $39,425.76. Following the purchase, the director now directly owns 7,407 shares in the company, valued at $737,440.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 42,596 shares of company stock worth $4,224,884 over the last 90 days. 8.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on UMBF shares. Wells Fargo & Company lifted their price target on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Citigroup initiated coverage on UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target on the stock. Piper Sandler upped their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Barclays increased their price objective on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.86.

UMB Financial Price Performance

UMBF opened at $110.45 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.73 and a quick ratio of 0.73. UMB Financial Co. has a 1 year low of $58.92 and a 1 year high of $112.39. The stock’s 50 day simple moving average is $102.08 and its 200 day simple moving average is $90.92. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 14.67 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The firm had revenue of $390.03 million for the quarter, compared to analysts’ expectations of $384.96 million. During the same quarter in the previous year, the company earned $1.93 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts predict that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Tuesday, September 10th. UMB Financial’s payout ratio is 20.72%.

UMB Financial Company 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.