Squarepoint Ops LLC Cuts Stake in UMB Financial Corporation $UMBF

Key Points

• Squarepoint Ops LLC reduced its UMB Financial stake by 86.9% in the second quarter, selling 67,082 shares and retaining 10,069 shares valued at approximately $1.44 million.
• UMB Financial exceeded quarterly expectations, reporting EPS of $3.57 versus the $3.12 consensus and revenue of $778 million versus $727.63 million expected. The company also raised its quarterly dividend to $0.50 per share.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $167.93, while institutional investors own 87.78% of the stock.

Squarepoint Ops LLC lessened its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 86.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,069 shares of the bank's stock after selling 67,082 shares during the quarter. Squarepoint Ops LLC's holdings in UMB Financial were worth $1,437,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Greenleaf Trust grew its holdings in UMB Financial by 4.7% during the 2nd quarter. Greenleaf Trust now owns 2,506 shares of the bank's stock valued at $358,000 after buying an additional 113 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of UMB Financial by 1.7% in the first quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank's stock worth $820,000 after buying an additional 125 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of UMB Financial by 8.2% in the first quarter. Ritholtz Wealth Management now owns 1,998 shares of the bank's stock worth $225,000 after buying an additional 152 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of UMB Financial by 13.1% during the first quarter. Parallel Advisors LLC now owns 1,377 shares of the bank's stock worth $155,000 after acquiring an additional 160 shares during the last quarter. Finally, MBM Wealth Consultants LLC purchased a new position in UMB Financial during the first quarter valued at $26,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Performance

UMB Financial stock opened at $134.20 on Thursday. The company's 50-day moving average price is $144.26 and its 200-day moving average price is $132.10. UMB Financial Corporation has a twelve month low of $68.92 and a twelve month high of $144.36. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The company has a market cap of $10.19 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 0.67 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, beating analysts' consensus estimates of $3.12 by $0.45. The firm had revenue of $778.00 million during the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same quarter last year, the firm earned $2.96 EPS. On average, equities research analysts forecast that UMB Financial Corporation will post 13.54 EPS for the current fiscal year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a $0.50 dividend. This is a positive change from UMB Financial's previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. UMB Financial's dividend payout ratio (DPR) is presently 16.65%.

Insider Transactions at UMB Financial

In other UMB Financial news, Director Susan G. Murphy sold 1,377 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $145.55, for a total transaction of $200,422.35. Following the transaction, the director owned 10,635 shares in the company, valued at $1,547,924.25. The trade was a 11.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Phillip Mason sold 800 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total transaction of $117,600.00. Following the completion of the sale, the insider directly owned 8,894 shares in the company, valued at approximately $1,307,418. This represents a 8.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 25,544 shares of company stock worth $3,775,862. 5.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on UMBF shares. UBS Group started coverage on shares of UMB Financial in a research note on Monday. They issued a "neutral" rating and a $155.00 price target on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $181.00 target price (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Barclays reiterated an "overweight" rating and issued a $175.00 target price (up from $170.00) on shares of UMB Financial in a research report on Monday, August 3rd. TD Cowen reissued a "buy" rating and set a $166.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $162.00 price objective (up from $144.00) on shares of UMB Financial in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $167.93.

UMB Financial Company Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities.

The company offers commercial and personal banking products, including deposit accounts, lending, treasury management, wealth management and investment services. UMB also provides institutional banking, fund administration, securities custody, corporate trust and payment solutions through its specialized financial services businesses.

Founded in 1913, UMB serves customers through banking locations and business operations across portions of the Midwest and Western United States, as well as through nationwide institutional and payment-services platforms.

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