Corebridge Financial Inc. Decreases Holdings in UMB Financial Co. (NASDAQ:UMBF)

Corebridge Financial Inc. trimmed its holdings in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,241 shares of the bank's stock after selling 3,871 shares during the period. Corebridge Financial Inc. owned about 0.15% of UMB Financial worth $8,153,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. USA Financial Formulas raised its position in UMB Financial by 124.7% in the fourth quarter. USA Financial Formulas now owns 483 shares of the bank's stock worth $55,000 after acquiring an additional 268 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of UMB Financial during the 3rd quarter worth $83,000. Venturi Wealth Management LLC purchased a new position in shares of UMB Financial in the 4th quarter valued at about $96,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of UMB Financial in the fourth quarter valued at about $103,000. Finally, R Squared Ltd purchased a new stake in UMB Financial during the fourth quarter worth about $117,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UMBF has been the subject of a number of research analyst reports. Piper Sandler increased their target price on shares of UMB Financial from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $128.00 price objective on shares of UMB Financial in a report on Thursday, January 30th. Morgan Stanley decreased their target price on UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Citigroup restated a "neutral" rating and issued a $127.00 price target (down previously from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. Finally, StockNews.com lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $128.71.

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Insider Transactions at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $108.61, for a total value of $380,135.00. Following the sale, the chief executive officer now directly owns 334,347 shares of the company's stock, valued at approximately $36,313,427.67. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gallagher sold 527 shares of UMB Financial stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $114.13, for a total value of $60,146.51. Following the completion of the sale, the director now owns 13,010 shares of the company's stock, valued at $1,484,831.30. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.45% of the company's stock.

UMB Financial Price Performance

UMBF stock traded down $0.57 during trading on Tuesday, hitting $100.53. The stock had a trading volume of 350,013 shares, compared to its average volume of 491,815. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 11.18 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75. The company's 50 day moving average price is $109.05 and its two-hundred day moving average price is $112.48. UMB Financial Co. has a 1-year low of $76.00 and a 1-year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same quarter in the prior year, the firm earned $2.29 earnings per share. On average, sell-side analysts forecast that UMB Financial Co. will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, March 10th. UMB Financial's dividend payout ratio is presently 17.80%.

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.