Hillcrest Asset Management LLC Sells 1,337 Shares of UMB Financial Corp (UMBF)
Hillcrest Asset Management LLC trimmed its holdings in shares of UMB Financial Corp (NASDAQ:UMBF) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 143,420 shares of the bank’s stock after selling 1,337 shares during the quarter. UMB Financial accounts for approximately 2.0% of Hillcrest Asset Management LLC’s portfolio, making the stock its 13th biggest holding. Hillcrest Asset Management LLC’s holdings in UMB Financial were worth $10,933,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in UMB Financial by 4.6% during the second quarter. BlackRock Inc. now owns 5,049,331 shares of the bank’s stock valued at $384,908,000 after buying an additional 220,396 shares during the period. American Century Companies Inc. boosted its position in shares of UMB Financial by 25.7% in the second quarter. American Century Companies Inc. now owns 1,959,907 shares of the bank’s stock worth $149,404,000 after purchasing an additional 400,810 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of UMB Financial by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,191,313 shares of the bank’s stock worth $90,815,000 after purchasing an additional 5,512 shares during the period. Champlain Investment Partners LLC boosted its position in shares of UMB Financial by 3.5% in the first quarter. Champlain Investment Partners LLC now owns 1,111,290 shares of the bank’s stock worth $80,446,000 after purchasing an additional 37,335 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of UMB Financial by 1.7% in the second quarter. Wells Fargo & Company MN now owns 1,082,172 shares of the bank’s stock worth $82,494,000 after purchasing an additional 17,833 shares during the period. Institutional investors own 89.36% of the company’s stock.
In other news, insider Kevin M. Macke sold 1,039 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $75.52, for a total value of $78,465.28. Following the transaction, the insider now owns 6,705 shares of the company’s stock, valued at $506,361.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman J Mariner Kemper sold 2,200 shares of the business’s stock in a transaction on Tuesday, July 3rd. The stock was sold at an average price of $77.11, for a total transaction of $169,642.00. The disclosure for this sale can be found here. Insiders sold 22,321 shares of company stock worth $1,695,079 in the last three months. Insiders own 10.26% of the company’s stock.
UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $1.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.02). The firm had revenue of $250.52 million during the quarter, compared to the consensus estimate of $264.19 million. UMB Financial had a return on equity of 9.94% and a net margin of 25.18%. During the same quarter in the previous year, the company earned $0.90 earnings per share. equities research analysts anticipate that UMB Financial Corp will post 4.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.54%. UMB Financial’s payout ratio is currently 30.93%.
A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Stephens reiterated a “hold” rating and issued a $85.00 price target on shares of UMB Financial in a research report on Wednesday, May 23rd. BidaskClub upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Zacks Investment Research lowered shares of UMB Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Six analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $81.50.
UMB Financial Profile
UMB Financial Corporation, a bank holding company, provides various banking and other financial services. It operates through two segments, Bank and Asset Servicing. The Bank segment offers a range of banking services to commercial, retail, government, and correspondent bank customers through its branches, call center, Internet banking, and ATM network.
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