Truist Financial Corp Sells 21,091 Shares of UMB Financial Corporation $UMBF

Key Points

• Truist Financial Corp cut its stake in UMB Financial by 72.6% in the fourth quarter, selling 21,091 shares and leaving it with 7,976 shares valued at about $918,000.
• UMB Financial beat earnings expectations in its latest quarter, reporting $3.41 EPS versus $2.82 expected, while revenue rose 31.1% year over year to $739.16 million.
• The bank also declared a quarterly dividend of $0.43 per share, and analysts remain broadly positive, with an average price target of $145.55 and a consensus rating of Buy.

Truist Financial Corp lessened its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 72.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,976 shares of the bank's stock after selling 21,091 shares during the period. Truist Financial Corp's holdings in UMB Financial were worth $918,000 at the end of the most recent quarter.

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

UMB Financial Stock Down 2.0%

Shares of NASDAQ:UMBF opened at $124.65 on Friday. UMB Financial Corporation has a 52-week low of $98.16 and a 52-week high of $136.11. The company has a market capitalization of $9.47 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a fifty day moving average of $118.85 and a 200-day moving average of $118.46.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $701.79 million. During the same quarter last year, the business posted $2.58 EPS. UMB Financial's revenue for the quarter was up 31.1% on a year-over-year basis. On average, equities analysts predict that UMB Financial Corporation will post 12.76 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.4%. UMB Financial's dividend payout ratio (DPR) is 15.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on UMBF shares. Royal Bank Of Canada lifted their price target on shares of UMB Financial from $138.00 to $142.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Truist Financial set a $140.00 price target on shares of UMB Financial in a research report on Friday, May 1st. Morgan Stanley dropped their price target on shares of UMB Financial from $156.00 to $143.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Raymond James Financial reiterated a "strong-buy" rating and issued a $145.00 price target on shares of UMB Financial in a research report on Thursday, January 29th. Finally, Weiss Ratings upgraded shares of UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $145.55.

UMB Financial Profile

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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