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Higher costs weighed on UMB Financial (UMBF) in Kansas City, Mo., in the fourth quarter. Earnings at the $14.9 billion-asset company fell 9.4% from a year earlier, to $21.1 million.
January 23
BlackRock (BLK) has increased its stake in UMB Financial (UMBF) in Kansas City, Mo.
The nation's biggest asset manager now owns roughly 6% of the outstanding stock in UMB, the companies disclosed in Tuesday filings with the Securities and Exchange Commission.
BlackRock owns 2.4 million shares in the $14.9 billion-asset banking company, compared to 1.5 million shares at the end of the third quarter.
The move makes BlackRock, which had $3.7 trillion in assets under management at the end of 2012, one of UMB's top shareholders.
A UMB spokeswoman declined to comment on the investment, which was first reported by the
UMB's quarterly earnings rose 15.3% in 2012 from a year earlier, to $122.7 million, although
