Allspring Global Investments Holdings LLC Sells 292,899 Shares of UMB Financial Corporation $UMBF

Key Points

• Allspring Global Investments reduced its UMB Financial stake by 17.8% in Q1, selling 292,899 shares and leaving it with 1,357,177 shares worth about $155.6 million.
• Several other institutional investors also held sizable positions, and 87.78% of UMB Financial’s stock is owned by institutions overall.
• UMB Financial has seen mixed insider and analyst signals: two executives sold shares, but analysts still mostly rate the stock a Moderate Buy with an average price target of $152.17.

Allspring Global Investments Holdings LLC trimmed its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 17.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,357,177 shares of the bank's stock after selling 292,899 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.79% of UMB Financial worth $155,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its stake in shares of UMB Financial by 11.4% in the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank's stock worth $553,322,000 after buying an additional 493,875 shares in the last quarter. State Street Corp raised its position in UMB Financial by 7.9% during the second quarter. State Street Corp now owns 4,296,190 shares of the bank's stock valued at $453,461,000 after purchasing an additional 313,414 shares during the period. Wellington Management Group LLP lifted 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 valued at $366,743,000 after purchasing an additional 751,525 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of UMB Financial by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,854,927 shares of the bank's stock valued at $328,439,000 after purchasing an additional 22,100 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of UMB Financial by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank's stock worth $219,529,000 after purchasing an additional 33,078 shares during the period. 87.78% of the stock is currently owned by institutional investors.

Insider Transactions at UMB Financial

In related news, Director Kevin Charles Gallagher sold 381 shares of UMB Financial stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the sale, the director owned 12,223 shares in the company, valued at $1,624,192.24. This trade represents a 3.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President James D. Rine sold 8,246 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the sale, the president directly owned 61,446 shares of the company's stock, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UMBF shares. Weiss Ratings raised UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, April 27th. Hovde Group raised their price target on UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Barclays lifted their price objective on shares of UMB Financial from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Piper Sandler boosted their price objective on shares of UMB Financial from $155.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, June 26th. Finally, Zacks Research lowered shares of UMB Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, UMB Financial currently has a consensus rating of "Moderate Buy" and an average price target of $152.17.

UMB Financial Trading Up 1.9%

Shares of NASDAQ UMBF opened at $148.02 on Friday. UMB Financial Corporation has a fifty-two week low of $103.38 and a fifty-two week high of $148.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.80 and a beta of 0.77. The business's 50 day moving average price is $135.41 and its 200-day moving average price is $125.92.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.59. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The company had revenue of $739.16 million during the quarter, compared to analysts' expectations of $701.79 million. During the same quarter in the previous year, the business earned $2.58 EPS. UMB Financial's revenue was up 31.1% compared to the same quarter last year. On average, sell-side analysts expect that UMB Financial Corporation will post 12.85 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 10th. UMB Financial's dividend payout ratio (DPR) is currently 15.26%.

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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