Bank of New York Mellon Corp Sells 18,000 Shares of UMB Financial Corporation $UMBF

Key Points

• Bank of New York Mellon trimmed its UMB Financial stake by 3.1% in the fourth quarter, selling 18,000 shares and still holding 553,541 shares worth about $63.7 million.
• Several analysts remain positive on UMB Financial, with an average Buy rating and a consensus price target of $145.55; recent firms including TD Cowen, RBC, and Morgan Stanley adjusted targets and ratings.
• UMB Financial posted stronger-than-expected quarterly results, reporting $3.41 EPS versus $2.82 expected and revenue of $739.16 million, while also announcing a quarterly dividend of $0.43 per share.

Bank of New York Mellon Corp cut its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 553,541 shares of the bank's stock after selling 18,000 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.73% of UMB Financial worth $63,679,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of UMB Financial by 28.2% in the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock valued at $4,329,000 after acquiring an additional 9,417 shares in the last quarter. NewEdge Advisors LLC raised its holdings in UMB Financial by 47.0% during the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock worth $570,000 after purchasing an additional 1,803 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in UMB Financial by 65.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock worth $21,017,000 after purchasing an additional 82,083 shares during the last quarter. Jane Street Group LLC raised its holdings in UMB Financial by 161.7% during the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock worth $5,043,000 after purchasing an additional 30,820 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in UMB Financial by 6.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,232 shares of the bank's stock worth $445,000 after purchasing an additional 269 shares during the last quarter. 87.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

UMBF has been the subject of several recent analyst reports. Truist Financial set a $140.00 price objective on shares of UMB Financial in a research report on Friday, May 1st. Morgan Stanley reduced their price objective on shares of UMB Financial from $156.00 to $143.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Royal Bank Of Canada raised their price objective on shares of UMB Financial from $138.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Weiss Ratings raised shares of UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, April 27th. Finally, TD Cowen raised their price objective on shares of UMB Financial from $141.00 to $147.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, UMB Financial has an average rating of "Buy" and an average price target of $145.55.

UMB Financial Trading Up 2.1%

NASDAQ UMBF opened at $131.82 on Wednesday. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.88 and a beta of 0.78. UMB Financial Corporation has a one year low of $98.16 and a one year high of $136.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The business's fifty day moving average is $125.08 and its 200-day moving average is $121.15.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced 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 business had revenue of $739.16 million for the quarter, compared to analysts' expectations of $701.79 million. During the same period in the previous year, the business posted $2.58 EPS. The firm's quarterly revenue was up 31.1% compared to the same quarter last year. Equities research analysts predict that UMB Financial Corporation will post 12.76 EPS for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, June 10th. UMB Financial's payout ratio is currently 15.26%.

UMB Financial Company Profile

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.

Want to see what other hedge funds are holding UMBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UMB Financial Corporation (NASDAQ:UMBF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.