Handelsbanken Fonder AB Decreases Stake in UMB Financial Co. (NASDAQ:UMBF)

Handelsbanken Fonder AB cut its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,930 shares of the bank’s stock after selling 1,000 shares during the period. Handelsbanken Fonder AB’s holdings in UMB Financial were worth $830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of UMBF. Wellington Management Group LLP increased its stake in shares of UMB Financial by 73.5% in the third quarter. Wellington Management Group LLP now owns 2,586,701 shares of the bank’s stock worth $160,505,000 after buying an additional 1,095,630 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of UMB Financial by 1.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,842,050 shares of the bank’s stock valued at $153,903,000 after purchasing an additional 23,689 shares in the last quarter. American Century Companies Inc. lifted its position in shares of UMB Financial by 4.3% during the third quarter. American Century Companies Inc. now owns 1,817,350 shares of the bank’s stock worth $112,767,000 after purchasing an additional 75,140 shares during the last quarter. Victory Capital Management Inc. grew its stake in UMB Financial by 8.2% in the third quarter. Victory Capital Management Inc. now owns 1,731,904 shares of the bank’s stock worth $107,465,000 after purchasing an additional 131,926 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in UMB Financial by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 931,648 shares of the bank’s stock valued at $57,809,000 after buying an additional 47,349 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Price Performance

NASDAQ UMBF opened at $77.75 on Tuesday. The company has a 50-day moving average price of $81.85 and a two-hundred day moving average price of $77.83. UMB Financial Co. has a 52 week low of $50.68 and a 52 week high of $87.36. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 10.83 and a beta of 0.83. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.12.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Wednesday, January 31st. The bank reported $2.29 EPS for the quarter, beating the consensus estimate of $1.76 by $0.53. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. The firm had revenue of $370.80 million for the quarter, compared to analysts’ expectations of $360.69 million. During the same period last year, the firm earned $2.06 EPS. The firm’s revenue was up .0% compared to the same quarter last year. Analysts forecast that UMB Financial Co. will post 7.41 EPS for the current year.

Insider Transactions at UMB Financial

In related news, CEO J Mariner Kemper sold 11,170 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $85.28, for a total value of $952,577.60. Following the completion of the sale, the chief executive officer now owns 1,738,604 shares of the company’s stock, valued at $148,268,149.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Abigail M. Wendel sold 1,182 shares of UMB Financial stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $80.70, for a total transaction of $95,387.40. Following the transaction, the insider now directly owns 15,217 shares in the company, valued at approximately $1,228,011.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO J Mariner Kemper sold 11,170 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $85.28, for a total value of $952,577.60. Following the completion of the sale, the chief executive officer now owns 1,738,604 shares of the company’s stock, valued at approximately $148,268,149.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,277 shares of company stock valued at $2,264,661. 8.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on UMBF shares. Barclays began coverage on UMB Financial in a research report on Friday, March 8th. They issued an “equal weight” rating and a $91.00 target price for the company. Piper Sandler raised their price target on shares of UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Wells Fargo & Company increased their price objective on shares of UMB Financial from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Raymond James lifted their target price on UMB Financial from $80.00 to $102.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Finally, StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a report on Saturday, March 16th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

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.