Allspring Global Investments Holdings LLC lowered its position in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,738,795 shares of the bank's stock after selling 144,955 shares during the quarter. Allspring Global Investments Holdings LLC owned 3.56% of UMB Financial worth $194,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in UMBF. Covestor Ltd increased its position in UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank's stock valued at $45,000 after purchasing an additional 102 shares during the period. Heritage Family Offices LLP grew its position in shares of UMB Financial by 6.5% during the 4th quarter. Heritage Family Offices LLP now owns 2,059 shares of the bank's stock worth $232,000 after buying an additional 125 shares during the period. Truist Financial Corp lifted its holdings in shares of UMB Financial by 3.3% in the 2nd quarter. Truist Financial Corp now owns 4,238 shares of the bank's stock worth $354,000 after purchasing an additional 136 shares in the last quarter. Commerce Bank lifted its holdings in shares of UMB Financial by 0.3% in the 3rd quarter. Commerce Bank now owns 41,708 shares of the bank's stock worth $4,384,000 after purchasing an additional 142 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of UMB Financial by 5.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 3,634 shares of the bank's stock worth $410,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on UMBF. Piper Sandler raised their price objective on UMB Financial from $142.00 to $143.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Citigroup restated a "neutral" rating and set a $127.00 price objective (down from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $128.00 target price on shares of UMB Financial in a research note on Thursday, January 30th. Wells Fargo & Company lifted their target price on UMB Financial from $107.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded UMB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $130.14.
Get Our Latest Stock Analysis on UMB Financial
Insider Buying and Selling at UMB Financial
In other news, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $124.95, for a total transaction of $3,036,285.00. Following the completion of the sale, the chief executive officer now owns 1,552,304 shares in the company, valued at approximately $193,960,384.80. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the sale, the insider now owns 5,828 shares of the company's stock, valued at approximately $719,058.64. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,681 shares of company stock valued at $3,201,798 in the last quarter. 8.85% of the stock is currently owned by corporate insiders.
UMB Financial Price Performance
UMBF stock traded down $0.70 during mid-day trading on Friday, reaching $111.86. 427,887 shares of the company traded hands, compared to its average volume of 999,214. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $5.46 billion, a P/E ratio of 12.44 and a beta of 0.82. UMB Financial Co. has a 52-week low of $76.00 and a 52-week high of $129.94. The company has a fifty day moving average price of $116.82 and a 200-day moving average price of $110.94.
UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.24. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. During the same quarter last year, the firm posted $2.29 earnings per share. As a group, analysts anticipate that UMB Financial Co. will post 9.66 earnings per share for the current year.
UMB Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, March 10th. UMB Financial's payout ratio is presently 17.80%.
UMB Financial Company Profile
(
Free Report)
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.
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