UMB Financial Corporation (NASDAQ:UMBF – Get Free Report) CAO David Carl Odgers sold 145 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $147.30, for a total value of $21,358.50. Following the completion of the transaction, the chief accounting officer directly owned 6,538 shares of the company’s stock, valued at $963,047.40. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
UMB Financial Trading Up 0.3%
NASDAQ UMBF opened at $145.60 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a twelve month low of $103.38 and a twelve month high of $150.00. The firm has a market capitalization of $11.06 billion, a PE ratio of 12.12, a P/E/G ratio of 0.71 and a beta of 0.77. The stock’s 50 day moving average is $140.19 and its 200 day moving average is $128.70.
UMB Financial shares are scheduled to split on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly created shares will be issued to shareholders after the closing bell on Monday, August 31st.
UMB Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. 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 dividend payout ratio (DPR) is 14.32%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in UMBF. BlackRock Inc. bought a new stake in UMB Financial in the 2nd quarter worth approximately $1,458,386,000. UMB Bank n.a. lifted 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 buying an additional 493,875 shares during the period. State Street Corp lifted its holdings in shares of UMB Financial by 7.9% during the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock valued at $453,461,000 after buying an additional 313,414 shares during the period. Wellington Management Group LLP boosted its stake in shares of UMB Financial by 32.0% in the 3rd 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of UMB Financial by 1.9% in the 1st 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 during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Hovde Group upped their price objective on shares of UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Truist Financial set a $170.00 price target on UMB Financial and gave the stock a “buy” rating in a research report on Tuesday. Citigroup restated a “neutral” rating and issued a $162.00 price target (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. Zacks Research lowered UMB Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on UMB Financial from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.00.
Read Our Latest Analysis on UMBF
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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