King Luther Capital Management Corp Acquires 32,820 Shares of UMB Financial Co. (NASDAQ:UMBF)

King Luther Capital Management Corp increased its stake in UMB Financial Co. (NASDAQ:UMBF) by 229.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,116 shares of the bank’s stock after acquiring an additional 32,820 shares during the quarter. King Luther Capital Management Corp owned 0.10% of UMB Financial worth $4,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd grew its stake in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after buying an additional 102 shares during the period. CWM LLC lifted its holdings in shares of UMB Financial by 7.1% in the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Truist Financial Corp lifted its stake in shares of UMB Financial by 3.3% in the second quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock valued at $354,000 after buying an additional 136 shares in the last quarter. Commerce Bank grew its holdings in shares of UMB Financial by 0.3% during the third quarter. Commerce Bank now owns 41,708 shares of the bank’s stock valued at $4,384,000 after buying an additional 142 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of UMB Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock worth $4,496,000 after acquiring an additional 200 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

Insider Activity at UMB Financial

In other news, insider Robert Brian Beaird sold 854 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the sale, the insider now directly owns 5,828 shares of the company’s stock, valued at approximately $719,058.64. This represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Pauls sold 849 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $110.42, for a total transaction of $93,746.58. Following the sale, the executive vice president now directly owns 6,483 shares in the company, valued at $715,852.86. This trade represents a 11.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,303 shares of company stock worth $5,830,165. Corporate insiders own 8.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays boosted their price objective on UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Citigroup assumed coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target on the stock. Morgan Stanley initiated coverage on shares of UMB Financial in a research report on Thursday. They set an “overweight” rating and a $156.00 target price on the stock. StockNews.com lowered UMB Financial from a “hold” rating to a “sell” rating in a report on Friday. Finally, Royal Bank of Canada assumed coverage on UMB Financial in a research report on Friday. They set a “sector perform” rating and a $130.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $122.00.

UMB Financial Price Performance

Shares of NASDAQ UMBF opened at $125.00 on Friday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 15.63 and a beta of 0.78. The stock has a fifty day simple moving average of $110.41 and a two-hundred day simple moving average of $96.96. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11. UMB Financial Co. has a 1-year low of $69.96 and a 1-year high of $128.73.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. The business had revenue of $716.44 million for the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period in the previous year, the business posted $2.02 EPS. Analysts anticipate that UMB Financial Co. will post 9.33 earnings per share for the current year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 10th. UMB Financial’s dividend payout ratio is presently 19.50%.

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.