UMB Financial Corporation (NASDAQ:UMBF – Get Free Report) CEO J Mariner Kemper sold 4,200 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $147.27, for a total value of $618,534.00. Following the completion of the transaction, the chief executive officer directly owned 5,561 shares in the company, valued at $818,968.47. This trade represents a 43.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
UMB Financial Trading Up 0.9%
Shares of NASDAQ:UMBF opened at $148.33 on Wednesday. The stock has a 50 day moving average of $139.32 and a 200 day moving average of $128.25. The company has a market cap of $11.27 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.72 and a beta of 0.77. UMB Financial Corporation has a 12-month low of $103.38 and a 12-month high of $150.00. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.
Shares of UMB Financial are scheduled to split before the market opens on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly issued shares will be issued to shareholders after the closing bell on Monday, August 31st.
UMB Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s payout ratio is 14.32%.
Institutional Trading of UMB Financial
Institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. boosted its holdings in shares of UMB Financial by 11.4% during the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock valued at $553,322,000 after purchasing an additional 493,875 shares during the last quarter. State Street Corp increased its holdings in shares of UMB Financial by 7.9% in the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after purchasing an additional 313,414 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after buying an additional 751,525 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of UMB Financial by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank’s stock worth $328,200,000 after buying an additional 55,005 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in UMB Financial by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank’s stock valued at $219,529,000 after buying an additional 33,078 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on UMBF. Stephens initiated coverage on shares of UMB Financial in a report on Tuesday, July 14th. They issued an “overweight” rating and a $167.00 target price for the company. TD Cowen restated a “buy” rating and issued a $166.00 price objective (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 price objective (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Piper Sandler reiterated an “overweight” rating and set a $181.00 target price (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Finally, Zacks Research downgraded UMB Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.
Read Our Latest Report on UMB Financial
About UMB Financial
UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.
In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.
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