First Trust Advisors LP reduced its stake in shares of UMB Financial Corp (NASDAQ:UMBF) by 10.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 67,914 shares of the bank’s stock after selling 7,610 shares during the period. First Trust Advisors LP’s holdings in UMB Financial were worth $4,349,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Manchester Capital Management LLC acquired a new stake in UMB Financial in the 1st quarter valued at approximately $33,000. Great West Life Assurance Co. Can increased its holdings in UMB Financial by 3.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 27,516 shares of the bank’s stock valued at $1,761,000 after purchasing an additional 830 shares during the last quarter. Dean Investment Associates LLC increased its holdings in UMB Financial by 14.1% in the 1st quarter. Dean Investment Associates LLC now owns 114,306 shares of the bank’s stock valued at $7,320,000 after purchasing an additional 14,125 shares during the last quarter. Commerce Bank increased its holdings in UMB Financial by 3.8% in the 1st quarter. Commerce Bank now owns 37,461 shares of the bank’s stock valued at $2,399,000 after purchasing an additional 1,357 shares during the last quarter. Finally, US Bancorp DE increased its holdings in UMB Financial by 22.1% in the 1st quarter. US Bancorp DE now owns 23,180 shares of the bank’s stock valued at $1,484,000 after purchasing an additional 4,193 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the stock. BidaskClub downgraded shares of UMB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 5th. Zacks Investment Research upgraded shares of UMB Financial from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Friday, May 31st. Stephens set a $74.00 target price on shares of UMB Financial and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, Raymond James lifted their target price on shares of UMB Financial from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.25.
In other UMB Financial news, Chairman J Mariner Kemper sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.24, for a total value of $207,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Cornelius sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $69.38, for a total transaction of $55,504.00. The disclosure for this sale can be found here. Insiders sold a total of 13,599 shares of company stock valued at $961,167 in the last three months. 10.45% of the stock is currently owned by corporate insiders.
Shares of UMBF stock opened at $63.64 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.69 and a quick ratio of 0.69. UMB Financial Corp has a 52 week low of $57.00 and a 52 week high of $82.14. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95.
UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. UMB Financial had a net margin of 16.66% and a return on equity of 8.90%. The company had revenue of $271.30 million during the quarter, compared to analysts’ expectations of $262.18 million. During the same quarter last year, the company posted $1.18 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that UMB Financial Corp will post 4.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.20 annualized dividend and a yield of 1.89%. UMB Financial’s dividend payout ratio is presently 29.78%.
UMB Financial Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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