Peregrine Capital Management LLC trimmed its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,790 shares of the bank's stock after selling 3,264 shares during the quarter. Peregrine Capital Management LLC owned 0.08% of UMB Financial worth $6,045,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in UMB Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,762,481 shares of the bank's stock worth $537,494,000 after buying an additional 48,507 shares during the period. Wellington Management Group LLP increased its holdings in shares of UMB Financial by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock worth $228,122,000 after acquiring an additional 102,104 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of UMB Financial by 10.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank's stock worth $192,302,000 after purchasing an additional 174,088 shares during the period. Northern Trust Corp lifted its holdings in shares of UMB Financial by 16.2% during the 4th quarter. Northern Trust Corp now owns 637,072 shares of the bank's stock valued at $71,900,000 after purchasing an additional 88,705 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of UMB Financial by 17.5% during the 4th quarter. Captrust Financial Advisors now owns 461,031 shares of the bank's stock valued at $52,032,000 after purchasing an additional 68,634 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.
Insider Buying and Selling
In other news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the completion of the sale, the chief executive officer owned 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This trade represents a 1.84% 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. 5.45% of the stock is currently owned by corporate insiders.
UMB Financial Stock Performance
Shares of NASDAQ:UMBF traded up $2.98 on Tuesday, hitting $108.14. The company had a trading volume of 590,036 shares, compared to its average volume of 543,759. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 1.24 and a beta of 0.75. The stock has a 50 day moving average price of $102.18 and a 200 day moving average price of $105.68. UMB Financial Corporation has a 1-year low of $81.01 and a 1-year high of $129.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10.
UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same quarter in the prior year, the business earned $2.47 EPS. UMB Financial's quarterly revenue was up 41.4% on a year-over-year basis. Analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.
UMB Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's dividend payout ratio is 20.13%.
Wall Street Analyst Weigh In
UMBF has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 1st. Royal Bank Of Canada decreased their price objective on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Morgan Stanley dropped their target price on UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Truist Financial assumed coverage on UMB Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $120.00 price target for the company. Finally, Piper Sandler set a $135.00 price objective on shares of UMB Financial and gave the company an "overweight" rating in a report on Friday, June 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $122.88.
Check Out Our Latest Report on UMBF
About UMB Financial
(
Free Report)
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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