Citigroup Inc. Acquires 11,792 Shares of UMB Financial Corporation $UMBF

Key Points

• Citigroup Inc. has increased its holdings in UMB Financial Corporation by 12.5%, now owning approximately $10.7 million worth, which reflects a growing interest from institutional investors.
• UMB Financial recently declared a quarterly dividend of $0.40, with an annualized yield of 1.4%, signaling its financial stability.
• The bank reported significant earnings of $2.96 per share for the last quarter, exceeding analysts' expectations, and noted a year-over-year revenue increase of 76.7%.

Citigroup Inc. raised its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 12.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,889 shares of the bank's stock after purchasing an additional 11,792 shares during the period. Citigroup Inc. owned approximately 0.14% of UMB Financial worth $10,705,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in UMBF. Wells Fargo & Company MN raised its position in UMB Financial by 16.4% during the fourth quarter. Wells Fargo & Company MN now owns 51,929 shares of the bank's stock valued at $5,861,000 after purchasing an additional 7,318 shares in the last quarter. Bank of Montreal Can raised its position in UMB Financial by 16.5% during the fourth quarter. Bank of Montreal Can now owns 6,270 shares of the bank's stock valued at $708,000 after purchasing an additional 886 shares in the last quarter. Mariner LLC raised its position in UMB Financial by 1.9% during the fourth quarter. Mariner LLC now owns 21,296 shares of the bank's stock valued at $2,403,000 after purchasing an additional 393 shares in the last quarter. XTX Topco Ltd purchased a new stake in UMB Financial during the fourth quarter valued at about $679,000. Finally, Walleye Capital LLC raised its position in UMB Financial by 701.5% during the fourth quarter. Walleye Capital LLC now owns 17,592 shares of the bank's stock valued at $1,985,000 after purchasing an additional 15,397 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

UMBF has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Barclays lifted their price objective on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Raymond James Financial lifted their price objective on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Truist Financial lifted their price objective on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Piper Sandler lifted their price objective on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $132.11.

Insider Activity at UMB Financial

In related news, insider Robert Brian Beaird sold 1,205 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total value of $139,984.85. Following the transaction, the insider directly owned 10,147 shares of the company's stock, valued at approximately $1,178,776.99. This represents a 10.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Mariner Kemper sold 15,523 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total value of $1,805,790.59. Following the completion of the transaction, the chief executive officer directly owned 1,536,781 shares in the company, valued at $178,773,733.73. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,140 shares of company stock valued at $2,496,771. 5.45% of the stock is owned by corporate insiders.

UMB Financial Stock Down 0.4%

Shares of UMBF stock traded down $0.5050 during midday trading on Wednesday, reaching $115.4250. 224,150 shares of the stock were exchanged, compared to its average volume of 659,511. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The company's 50 day moving average is $106.98 and its two-hundred day moving average is $103.53. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.76 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.32 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The firm had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. During the same quarter in the prior year, the business earned $2.16 EPS. The business's revenue for the quarter was up 76.7% on a year-over-year basis. On average, equities research analysts predict that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's payout ratio is currently 18.39%.

About UMB Financial

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.