UMB Financial Corporation $UMBF Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has reduced its stake in UMB Financial Corporation by 45.2%, selling 178,502 shares and now holds approximately 0.28% of the company, valued at $21.47 million.
• Analysts have raised their price targets for UMB Financial, with Barclays increasing it to $150 and Wells Fargo to $125, contributing to a consensus price target of $133.89.
• UMB Financial will pay a quarterly dividend of $0.40 on October 1st, which represents an annualized dividend of $1.60 and a yield of 1.3%.

AQR Capital Management LLC reduced its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 45.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 216,097 shares of the bank's stock after selling 178,502 shares during the period. AQR Capital Management LLC owned 0.28% of UMB Financial worth $21,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in UMBF. Brooklyn Investment Group lifted its holdings in shares of UMB Financial by 4,840.0% in the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. Rothschild Investment LLC raised its stake in UMB Financial by 442.0% during the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in UMB Financial during the 1st quarter valued at approximately $27,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in UMB Financial during the 1st quarter valued at approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in UMB Financial by 143.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock valued at $37,000 after acquiring an additional 213 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Phillip James Mason sold 750 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $120.97, for a total transaction of $90,727.50. Following the sale, the insider owned 8,815 shares in the company, valued at $1,066,350.55. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Amy Harris sold 500 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $122.02, for a total value of $61,010.00. Following the sale, the executive vice president owned 7,285 shares in the company, valued at $888,915.70. This trade represents a 6.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. Corporate insiders own 5.45% of the company's stock.

UMB Financial Price Performance

NASDAQ UMBF traded down $1.08 during mid-day trading on Friday, hitting $120.60. The stock had a trading volume of 323,188 shares, compared to its average volume of 497,488. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.39 and a beta of 0.77. The company has a 50 day simple moving average of $112.89 and a 200 day simple moving average of $104.95. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.61. The firm had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.UMB Financial's quarterly revenue was up 76.7% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. Equities analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio is 18.39%.

Analyst Ratings Changes

Several analysts have commented on UMBF shares. Piper Sandler upped their price objective on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Raymond James Financial increased their target price on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 31st. Truist Financial increased their target price on UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Royal Bank Of Canada increased their target price on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Barclays increased their target price on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, UMB Financial has a consensus rating of "Moderate Buy" and a consensus target price of $133.89.

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.