Goldman Sachs Group Inc. Sells 74,789 Shares of UMB Financial Corporation $UMBF

Key Points

• Goldman Sachs Group Inc. reduced its stake in UMB Financial Corporation by 7.4%, selling 74,789 shares and now holds approximately 1.23% of the company valued at $94.7 million.
• Several institutional investors increased their positions in UMB Financial, with Vanguard Group ramping up its stake by 54% to own $741.3 million worth of shares.
• UMB Financial announced a quarterly dividend of $0.40 per share, with an ex-dividend date set for September 10th, representing an annualized dividend yield of 1.3%.

Goldman Sachs Group Inc. cut its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 936,685 shares of the bank's stock after selling 74,789 shares during the quarter. Goldman Sachs Group Inc. owned about 1.23% of UMB Financial worth $94,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in UMBF. Vanguard Group Inc. grew its stake in shares of UMB Financial by 54.0% in the first quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock valued at $741,342,000 after buying an additional 2,570,283 shares in the last quarter. Earnest Partners LLC bought a new position in shares of UMB Financial in the first quarter valued at $144,351,000. Dimensional Fund Advisors LP grew its stake in shares of UMB Financial by 78.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock valued at $273,029,000 after buying an additional 1,185,671 shares in the last quarter. Nuveen LLC bought a new position in shares of UMB Financial in the first quarter valued at $51,324,000. Finally, Wellington Management Group LLP grew its stake in shares of UMB Financial by 19.1% in the first quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock valued at $243,359,000 after buying an additional 385,830 shares in the last quarter. 87.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UMBF. Piper Sandler raised their target price on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Barclays lifted their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada lifted their price objective on shares of UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Truist Financial lifted their price objective on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Finally, Wells Fargo & Company lifted their price objective on shares of UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.89.

Insider Activity at UMB Financial

In other news, insider Stacy H. King sold 1,500 shares of UMB Financial stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $118.88, for a total transaction of $178,320.00. Following the completion of the sale, the insider owned 9,472 shares of the company's stock, valued at approximately $1,126,031.36. This trade represents a 13.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shannon Andresen Johnson sold 1,367 shares of UMB Financial stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total value of $164,832.86. Following the sale, the insider directly owned 34,124 shares of the company's stock, valued at $4,114,671.92. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. Corporate insiders own 5.45% of the company's stock.

UMB Financial Stock Down 0.9%

UMBF opened at $120.60 on Friday. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $9.16 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.39 and a beta of 0.77. The stock has a fifty day moving average of $112.89 and a 200-day moving average of $104.95.

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 company had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. During the same quarter last year, the firm earned $2.16 earnings per share. The company's revenue was up 76.7% on a year-over-year basis. On average, equities analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

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

UMB Financial Company 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.

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