UMB Financial Corporation (NASDAQ:UMBF) Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its holdings in UMB Financial Corporation by 6.1% in Q1, now owning approximately 0.05% of the company, valued at around $3.94 million.
• UMB Financial's latest earnings surpassed expectations with $2.96 earnings per share, exceeding the consensus estimate by $0.61, and the company reported a 76.7% revenue increase compared to the previous year.
• The firm announced a quarterly dividend of $0.40 per share, which will be paid on October 1st, representing an annual yield of 1.5% with a payout ratio of 18.39%.

Commerce Bank reduced its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,950 shares of the bank's stock after selling 2,552 shares during the quarter. Commerce Bank owned approximately 0.05% of UMB Financial worth $3,938,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of UMBF. Freestone Grove Partners LP acquired a new position in UMB Financial in the 4th quarter valued at about $48,235,000. Adage Capital Partners GP L.L.C. grew its position in UMB Financial by 298.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock valued at $34,051,000 after acquiring an additional 225,908 shares in the last quarter. Stieven Capital Advisors L.P. acquired a new position in UMB Financial in the 1st quarter valued at about $21,088,000. New York State Common Retirement Fund grew its position in UMB Financial by 1,302.5% in the 1st quarter. New York State Common Retirement Fund now owns 194,586 shares of the bank's stock valued at $19,673,000 after acquiring an additional 180,712 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in UMB Financial by 22,173.3% in the 4th quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock valued at $19,934,000 after acquiring an additional 175,834 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Price Performance

UMBF stock opened at $108.39 on Monday. The business has a 50 day moving average price of $104.71 and a 200 day moving average price of $104.03. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.27 and a beta of 0.77. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10.

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, topping the consensus estimate of $2.35 by $0.61. The firm had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%. The firm's revenue was up 76.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 earnings per share. Equities research analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 annualized dividend and a yield of 1.5%. UMB Financial's payout ratio is presently 18.39%.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer owned 288,945 shares in the company, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UMBF has been the subject of several recent research reports. Raymond James Financial lifted their price objective on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research note on Thursday. Royal Bank Of Canada lifted their price objective on UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday. Truist Financial lifted their price objective on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Finally, Piper Sandler lifted their price objective on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $132.11.

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.

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