Goldman Sachs Group Inc. Cuts Stock Position in 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. decreased its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 7.4% during the first quarter, according to its most recent 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 approximately 1.23% of UMB Financial worth $94,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group boosted its position in UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock valued at $25,000 after purchasing an additional 242 shares in the last quarter. Rothschild Investment LLC boosted its position in UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock valued at $27,000 after purchasing an additional 221 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in UMB Financial during the first quarter valued at about $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in UMB Financial during the first quarter valued at about $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in UMB Financial by 143.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock valued at $37,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 87.78% of the company's stock.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF traded up $3.64 during trading on Thursday, hitting $124.18. The stock had a trading volume of 481,725 shares, compared to its average volume of 467,709. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.38 and a beta of 0.77. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $115.40 and a two-hundred day simple moving average of $105.40.

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

UMB Financial Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on UMBF shares. Truist Financial raised their price objective on UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Raymond James Financial raised their price objective on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their price objective on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Barclays increased their price target on UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada increased their price target on UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $133.89.

Insider Activity at UMB Financial

In related news, insider Shannon Andresen Johnson sold 1,367 shares of UMB Financial stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total transaction of $164,832.86. Following the completion of the transaction, the insider directly owned 34,124 shares in the company, valued at approximately $4,114,671.92. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Phillip James Mason sold 750 shares of UMB Financial stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $120.97, for a total value of $90,727.50. Following the transaction, the insider owned 8,815 shares of the company's stock, valued at approximately $1,066,350.55. This represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. Insiders own 5.45% of the company's stock.

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.