Trust Point Inc. Trims Position in UMB Financial Corporation $UMBF

Key Points

• Trust Point Inc. has reduced its stake in UMB Financial Corporation by 36.2%, selling 2,292 shares and leaving them with 4,038 shares worth $425,000.
• Insider sales occurred with Stacy H. King selling 1,500 shares at an average price of $118.88, which was a 13.67% decrease in their ownership of the stock.
• UMB Financial recently reported $2.96 earnings per share for the last quarter, surpassing estimates by $0.61 and reflecting a 76.7% year-over-year revenue increase.

Trust Point Inc. decreased its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 36.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,038 shares of the bank's stock after selling 2,292 shares during the quarter. Trust Point Inc.'s holdings in UMB Financial were worth $425,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Cetera Investment Advisers purchased a new stake in UMB Financial during the fourth quarter worth $238,000. Quantinno Capital Management LP acquired a new position in shares of UMB Financial in the 4th quarter valued at $214,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in UMB Financial by 18.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,798 shares of the bank's stock worth $14,198,000 after purchasing an additional 19,426 shares during the period. GTS Securities LLC acquired a new stake in UMB Financial during the 4th quarter worth about $480,000. Finally, Pinney & Scofield Inc. acquired a new stake in UMB Financial during the 4th quarter worth about $152,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 15,523 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the transaction, the chief executive officer directly owned 1,536,781 shares in the company, valued at approximately $178,773,733.73. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stacy H. King sold 1,500 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $118.88, for a total transaction of $178,320.00. Following the transaction, the insider owned 9,472 shares in the company, valued at $1,126,031.36. The trade was a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. 5.45% of the stock is owned by insiders.

UMB Financial Trading Down 2.4%

Shares of NASDAQ UMBF traded down $2.89 during midday trading on Monday, reaching $119.66. 302,087 shares of the stock were exchanged, compared to its average volume of 644,686. The company has a 50 day simple moving average of $115.61 and a 200 day simple moving average of $105.62. The stock has a market capitalization of $9.09 billion, a P/E ratio of 13.75, a PEG ratio of 1.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The firm had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. During the same quarter last year, the firm earned $2.16 EPS. The firm's revenue for the quarter was up 76.7% on a year-over-year basis. As a group, equities analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. UMB Financial's payout ratio is currently 18.39%.

Analyst Ratings Changes

UMBF has been the topic of several recent analyst reports. Truist Financial increased their target price on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Wells Fargo & Company increased their target price on shares of UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Raymond James Financial raised their price target on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised their price target on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Piper Sandler raised their price target on shares of UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $133.89.

UMB Financial Company Profile

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.