Thrivent Financial for Lutherans Lowers Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Thrivent Financial for Lutherans trimmed its stake in UMB Financial Co. (NASDAQ:UMBF) by 49.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,002 shares of the bank’s stock after selling 19,756 shares during the period. Thrivent Financial for Lutherans’ holdings in UMB Financial were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of UMB Financial in the 3rd quarter worth approximately $26,000. Covestor Ltd lifted its position in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after purchasing an additional 102 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of UMB Financial in the 2nd quarter worth approximately $128,000. CWM LLC lifted its position 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 during the period. Finally, Heritage Family Offices LLP purchased a new stake in shares of UMB Financial in the 3rd quarter worth approximately $203,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UMBF. Wells Fargo & Company upped their price target on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Royal Bank of Canada began coverage on shares of UMB Financial in a research report on Friday, November 22nd. They issued a “sector perform” rating and a $130.00 price target for the company. StockNews.com cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 22nd. Citigroup began coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price for the company. Finally, Barclays increased their target price on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.00.

Insider Buying and Selling at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the sale, the director now owns 3,211 shares in the company, valued at $329,127.50. This represents a 60.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Brian Beaird sold 854 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total transaction of $105,366.52. Following the completion of the sale, the insider now owns 5,828 shares in the company, valued at $719,058.64. The trade was a 12.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,303 shares of company stock worth $5,830,165. 8.85% of the stock is owned by corporate insiders.

UMB Financial Trading Up 0.1 %

Shares of UMB Financial stock opened at $126.05 on Thursday. 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 12-month low of $69.96 and a 12-month high of $129.94. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 15.76 and a beta of 0.78. The firm’s 50 day simple moving average is $112.09 and its two-hundred day simple moving average is $98.29.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results 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. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The business had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same quarter in the prior year, the business posted $2.02 EPS. Analysts predict that UMB Financial Co. will post 9.21 EPS for the current year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.27%. UMB Financial’s dividend payout ratio is presently 19.50%.

UMB Financial 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.