Legal & General Group Plc Lowers Stock Holdings in UMB Financial Corporation $UMBF

Key Points

• Legal & General Group Plc cut its UMB Financial stake by 14.5% in the fourth quarter, selling 19,204 shares and leaving it with 113,677 shares valued at about $13.1 million.
• UMB Financial reported better-than-expected quarterly earnings of $3.41 per share versus the $2.82 estimate, while revenue of $739.16 million also topped forecasts and rose 31.1% year over year.
• The bank also announced a quarterly dividend of $0.43 per share, and analysts remain broadly positive with a consensus rating of Buy and an average price target of $145.55.

Legal & General Group Plc lowered its holdings in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,677 shares of the bank's stock after selling 19,204 shares during the period. Legal & General Group Plc owned 0.15% of UMB Financial worth $13,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in UMBF. Royal Bank of Canada grew its position in UMB Financial by 28.2% during the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock valued at $4,329,000 after acquiring an additional 9,417 shares during the period. NewEdge Advisors LLC grew its position in UMB Financial by 47.0% during the first quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock valued at $570,000 after acquiring an additional 1,803 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in UMB Financial by 65.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock valued at $21,017,000 after acquiring an additional 82,083 shares during the period. Jane Street Group LLC grew its position in UMB Financial by 161.7% during the first quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock valued at $5,043,000 after acquiring an additional 30,820 shares during the period. Finally, Cetera Investment Advisers grew its position in UMB Financial by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,232 shares of the bank's stock valued at $445,000 after acquiring an additional 269 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Trading Up 0.8%

Shares of NASDAQ UMBF opened at $129.19 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock's 50 day moving average price is $122.88 and its two-hundred day moving average price is $120.20. The stock has a market capitalization of $9.82 billion, a P/E ratio of 11.46, a PEG ratio of 0.87 and a beta of 0.78. UMB Financial Corporation has a 52-week low of $98.16 and a 52-week high of $136.11.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.59. The business had revenue of $739.16 million for the quarter, compared to analysts' expectations of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business's quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 EPS. On average, analysts anticipate that UMB Financial Corporation will post 12.76 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, July 1st. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, June 10th. UMB Financial's dividend payout ratio is presently 15.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on UMBF shares. Zacks Research raised UMB Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on UMB Financial from $138.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Morgan Stanley decreased their target price on UMB Financial from $156.00 to $143.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Piper Sandler upped their target price on UMB Financial from $152.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Truist Financial set a $140.00 target price on UMB Financial in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, UMB Financial has an average rating of "Buy" and a consensus price target of $145.55.

About UMB Financial

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

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