UMB Financial Co. (NASDAQ:UMBF) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,534 shares of the bank's stock after selling 18,253 shares during the quarter. Ameriprise Financial Inc. owned 0.20% of UMB Financial worth $10,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd raised its position in UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after acquiring an additional 124 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of UMB Financial during the 4th quarter worth approximately $96,000. Steward Partners Investment Advisory LLC purchased a new stake in UMB Financial in the 4th quarter valued at approximately $103,000. R Squared Ltd purchased a new stake in UMB Financial in the 4th quarter valued at approximately $117,000. Finally, HighTower Advisors LLC purchased a new position in UMB Financial during the fourth quarter worth $201,000. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Stock Down 0.2%

Shares of UMBF opened at $106.86 on Tuesday. UMB Financial Co. has a fifty-two week low of $78.56 and a fifty-two week high of $129.94. The company's fifty day moving average is $97.93 and its two-hundred day moving average is $109.92. The firm has a market cap of $8.11 billion, a PE ratio of 11.89 and a beta of 0.72. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. The firm had revenue of $563.84 million for the quarter, compared to analysts' expectations of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The firm's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 earnings per share. Analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the sale, the chief executive officer now owns 334,347 shares of the company's stock, valued at $36,313,427.67. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.45% of the company's stock.

Analysts Set New Price Targets

UMBF has been the subject of a number of recent research reports. Piper Sandler reiterated an "overweight" rating and set a $137.00 price objective (up previously from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. Wells Fargo & Company boosted their price objective on shares of UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Bank of America started coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They set a "buy" rating and a $105.00 price objective on the stock. Truist Financial assumed coverage on shares of UMB Financial in a research report on Tuesday, May 13th. They set a "buy" rating and a $120.00 target price on the stock. Finally, Barclays cut their price target on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.33.

UMB Financial 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.

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