Basswood Capital Management L.L.C. Buys Shares of 144,257 UMB Financial Corporation $UMBF

Basswood Capital Management L.L.C. bought a new position in shares of UMB Financial Corporation (NASDAQ:UMBF) in the second quarter, HoldingsChannel reports. The firm bought 144,257 shares of the bank’s stock, valued at approximately $20,594,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of UMB Financial in the second quarter valued at approximately $1,458,386,000. UMB Bank n.a. increased its position in UMB Financial by 11.4% during the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock worth $553,322,000 after buying an additional 493,875 shares in the last quarter. State Street Corp increased its position in UMB Financial by 7.9% during the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after buying an additional 313,414 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after acquiring an additional 751,525 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of UMB Financial by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after acquiring an additional 55,005 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Trading Down 0.2%

Shares of UMBF opened at $143.34 on Thursday. UMB Financial Corporation has a fifty-two week low of $103.38 and a fifty-two week high of $153.32. The company has a market capitalization of $10.89 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 0.70 and a beta of 0.77. The stock has a fifty day moving average of $144.40 and a two-hundred day moving average of $130.68. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.45. The business had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $727.63 million. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.During the same quarter last year, the firm earned $2.96 earnings per share. As a group, analysts forecast that UMB Financial Corporation will post 13.48 EPS for the current year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s dividend payout ratio is 14.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UMBF. Zacks Research downgraded UMB Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of UMB Financial in a research report on Friday, July 24th. Wells Fargo & Company set a $160.00 target price on shares of UMB Financial and gave the company an “equal weight” rating in a research note on Monday, August 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $170.00 target price (up from $168.00) on shares of UMB Financial in a report on Thursday, July 30th. Finally, Morgan Stanley raised their price target on shares of UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

Insider Transactions at UMB Financial

In other news, CEO J Mariner Kemper sold 15,062 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $148.55, for a total transaction of $2,237,460.10. Following the transaction, the chief executive officer directly owned 1,491,138 shares in the company, valued at $221,508,549.90. This represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kevin Charles Gallagher sold 360 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $145.13, for a total transaction of $52,246.80. Following the completion of the sale, the director directly owned 11,863 shares in the company, valued at $1,721,677.19. This represents a 2.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,171 shares of company stock worth $4,919,826 in the last quarter. 5.33% of the stock is currently owned by corporate insiders.

UMB Financial Company Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.