Interval Partners LP Trims Stock Position in UMB Financial Corporation $UMBF

Key Points

• Interval Partners LP has reduced its holdings in UMB Financial Corporation by 77.7% in the first quarter, now owning only 10,746 shares, valued at approximately $1,086,000.
• Despite the reduction by Interval Partners, several other institutional investors increased their positions, with Brooklyn Investment Group raising its stake by an astonishing 4,840%.
• UMB Financial announced a quarterly dividend of $0.40 per share, set to be paid on October 1st, with an annual dividend yield of 1.3%.

Interval Partners LP lowered its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 77.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,746 shares of the bank's stock after selling 37,439 shares during the period. Interval Partners LP's holdings in UMB Financial were worth $1,086,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. 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 stake in shares of UMB Financial in the 1st quarter worth approximately $144,351,000. Dimensional Fund Advisors LP raised its stake in shares of UMB Financial by 78.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock worth $273,029,000 after buying an additional 1,185,671 shares in the last quarter. Nuveen LLC bought a new stake in shares of UMB Financial in the 1st quarter worth $51,324,000. Finally, Wellington Management Group LLP raised its stake in shares of UMB Financial by 19.1% in the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock worth $243,359,000 after buying an additional 385,830 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

UMB Financial Stock Down 0.4%

NASDAQ:UMBF traded down $0.53 on Thursday, hitting $121.46. The stock had a trading volume of 93,611 shares, compared to its average volume of 646,903. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The firm's fifty day simple moving average is $112.46 and its two-hundred day simple moving average is $104.72. The stock has a market cap of $9.22 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77. 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 announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. During the same period last year, the firm earned $2.16 EPS. The business's quarterly revenue was up 76.7% compared to the same quarter last year. Analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. 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 presently 18.39%.

Analyst Upgrades and Downgrades

UMBF has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. 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 research report on Thursday, July 31st. Barclays raised their price target on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Piper Sandler raised their price objective on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $133.89.

Insiders Place Their Bets

In related news, insider Stacy H. King sold 1,500 shares of UMB Financial stock in a transaction dated Friday, August 22nd. The shares were 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 in the company, valued at $1,126,031.36. This trade represents a 13.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Amy Harris sold 500 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $122.02, for a total transaction of $61,010.00. Following the transaction, the executive vice president owned 7,285 shares in the company, valued at approximately $888,915.70. This represents a 6.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. 5.45% of the stock is currently owned by company insiders.

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.