Oppenheimer Asset Management Inc. Sells 478 Shares of UMB Financial Corporation $UMBF

Oppenheimer Asset Management Inc. trimmed its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,694 shares of the bank’s stock after selling 478 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.06% of UMB Financial worth $4,490,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group boosted its holdings in shares of UMB Financial by 4,840.0% during the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after buying an additional 242 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of UMB Financial in the 1st quarter worth $27,000. McIlrath & Eck LLC bought a new position in shares of UMB Financial in the 1st quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of UMB Financial in the 1st quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of UMB Financial by 143.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock worth $37,000 after purchasing an additional 213 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Phillip James Mason sold 750 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $120.97, for a total transaction of $90,727.50. Following the completion of the sale, the insider directly owned 8,815 shares of the company’s stock, valued at $1,066,350.55. This trade represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shannon Andresen Johnson sold 1,367 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total value of $164,832.86. Following the sale, the insider directly owned 34,124 shares of the company’s stock, valued at approximately $4,114,671.92. This represents a 3.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders bought 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

UMBF has been the topic of a number of recent research reports. Cowen initiated coverage on UMB Financial in a report on Wednesday, September 24th. They issued a “buy” rating on the stock. TD Cowen initiated coverage on UMB Financial in a report on Thursday, September 25th. They issued a “buy” rating and a $151.00 target price on the stock. Royal Bank Of Canada increased their target price on UMB Financial from $122.00 to $128.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Hovde Group started coverage on UMB Financial in a report on Monday, October 6th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings upgraded UMB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

UMB Financial Price Performance

Shares of NASDAQ:UMBF opened at $112.29 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $118.51 and its two-hundred day simple moving average is $109.38. UMB Financial Corporation has a 1-year low of $82.00 and a 1-year high of $129.94. The stock has a market cap of $8.53 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.15 and a beta of 0.73.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, October 28th. The bank reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.22. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The business had revenue of $678.34 million for the quarter, compared to analysts’ expectations of $661.60 million. During the same period last year, the business earned $2.25 EPS. The business’s revenue was up 67.0% on a year-over-year basis. As a group, analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

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.