Principal Financial Group Inc. Has $83.64 Million Stock Holdings in UMB Financial Corporation $UMBF

Key Points

• Principal Financial Group reduced its UMB Financial stake by 3.2% in the fourth quarter, but still held 727,019 shares worth about $83.6 million, or roughly 0.96% of the company.
• UMB Financial reported strong quarterly results, posting $3.41 EPS versus expectations of $2.82 and revenue of $739.16 million, up 31.1% year over year.
• The company also announced a quarterly dividend of $0.43 per share, and analysts remain broadly positive with an average rating of Buy and a consensus price target of $145.55.

Principal Financial Group Inc. trimmed its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 727,019 shares of the bank's stock after selling 24,258 shares during the period. Principal Financial Group Inc. owned approximately 0.96% of UMB Financial worth $83,636,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Sequoia Financial Advisors LLC raised its position in UMB Financial by 3.1% in the third quarter. Sequoia Financial Advisors LLC now owns 3,407 shares of the bank's stock worth $403,000 after purchasing an additional 101 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of UMB Financial by 1.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank's stock valued at $739,000 after purchasing an additional 112 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of UMB Financial by 0.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 16,560 shares of the bank's stock worth $1,960,000 after buying an additional 129 shares in the last quarter. Signaturefd LLC raised its holdings in shares of UMB Financial by 3.6% in the 4th quarter. Signaturefd LLC now owns 4,165 shares of the bank's stock worth $479,000 after buying an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of UMB Financial by 219.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 249 shares of the bank's stock worth $29,000 after buying an additional 171 shares during the period. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Trading Down 2.1%

UMBF stock opened at $131.17 on Friday. The business has a fifty day moving average price of $117.79 and a 200 day moving average price of $117.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. UMB Financial Corporation has a fifty-two week low of $98.16 and a fifty-two week high of $136.11. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 0.91 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.59. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The company had revenue of $739.16 million for the quarter, compared to analyst estimates of $701.79 million. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The business's revenue was up 31.1% on a year-over-year basis. Analysts expect that UMB Financial Corporation will post 12.76 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, June 10th. UMB Financial's dividend payout ratio (DPR) is presently 15.26%.

Analyst Ratings Changes

Several analysts recently commented on the company. TD Cowen upped their price target on UMB Financial from $141.00 to $147.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Royal Bank Of Canada increased their price objective on UMB Financial from $138.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Piper Sandler lifted their price objective on UMB Financial from $152.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Keefe, Bruyette & Woods boosted their target price on shares of UMB Financial from $133.00 to $141.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. Finally, Zacks Research upgraded shares of UMB Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average 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.

Want to see what other hedge funds are holding UMBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UMB Financial Corporation (NASDAQ:UMBF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.