Hancock Whitney Corp Has $814,000 Position in UMB Financial Corporation $UMBF

Key Points

• Hancock Whitney Corp reduced its stake in UMB Financial Corporation by 85.2%, now holding only 8,052 shares after selling 46,356 during the first quarter, valued at approximately $814,000.
• Despite Hancock Whitney's decrease, other investors like Brooklyn Investment Group and Rothschild Investment LLC dramatically increased their stakes, with Brooklyn adding 4,840% during the same period.
• UMB Financial recently announced a quarterly dividend of $0.40 per share, which equates to an annualized dividend of $1.60 and a yield of 1.3%, with an upcoming payment date set for October 1st.

Hancock Whitney Corp cut its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 85.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,052 shares of the bank's stock after selling 46,356 shares during the quarter. Hancock Whitney Corp's holdings in UMB Financial were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of UMB Financial by 21.1% in the first quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock valued at $55,249,000 after buying an additional 95,339 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in UMB Financial by 27.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock worth $239,000 after purchasing an additional 509 shares in the last quarter. Teacher Retirement System of Texas grew its stake in UMB Financial by 96.3% during the 1st quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock worth $1,590,000 after purchasing an additional 7,715 shares in the last quarter. New York State Teachers Retirement System grew its stake in UMB Financial by 2.8% during the 1st quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock worth $6,104,000 after purchasing an additional 1,664 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in UMB Financial during the 1st quarter worth $237,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on UMBF. Royal Bank Of Canada boosted 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. Piper Sandler lifted their price target on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Truist Financial lifted their price target on UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Monday. Barclays lifted their price target on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Raymond James Financial lifted their price target on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. One 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. According to MarketBeat, UMB Financial has an average rating of "Moderate Buy" and a consensus price target of $133.89.

UMB Financial Stock Down 0.6%

UMB Financial stock traded down $0.68 during mid-day trading on Friday, reaching $121.01. The company's stock had a trading volume of 88,270 shares, compared to its average volume of 646,030. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The business's 50 day simple moving average is $112.70 and its 200 day simple moving average is $104.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77.

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

UMB Financial Announces Dividend

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

Insider Activity at UMB Financial

In other UMB Financial news, EVP Amy Harris sold 500 shares of UMB Financial stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $122.02, for a total value of $61,010.00. Following the completion of the sale, the executive vice president owned 7,285 shares in the company, valued at $888,915.70. The trade was a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg M. Graves acquired 234 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was acquired at an average price of $120.44 per share, with a total value of $28,182.96. Following the purchase, the director directly owned 38,034 shares in the company, valued at approximately $4,580,814.96. This represents a 0.62% increase in their ownership of the stock. The disclosure for this purchase 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. 5.45% of the stock is owned by corporate insiders.

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.