Massachusetts Financial Services Co. MA Trims Stock Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Massachusetts Financial Services Co. MA reduced its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 10.9% 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 412,896 shares of the bank's stock after selling 50,650 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.54% of UMB Financial worth $41,744,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of UMB Financial by 15.3% in the 1st quarter. Signaturefd LLC now owns 3,966 shares of the bank's stock valued at $401,000 after buying an additional 525 shares during the period. Edgestream Partners L.P. boosted its stake in shares of UMB Financial by 405.4% in the 1st quarter. Edgestream Partners L.P. now owns 96,518 shares of the bank's stock valued at $9,758,000 after buying an additional 77,422 shares during the period. Securian Asset Management Inc. boosted its stake in shares of UMB Financial by 56.1% in the 1st quarter. Securian Asset Management Inc. now owns 5,149 shares of the bank's stock valued at $521,000 after buying an additional 1,851 shares during the period. CWM LLC boosted its stake in shares of UMB Financial by 277.6% in the 1st quarter. CWM LLC now owns 10,603 shares of the bank's stock valued at $1,072,000 after buying an additional 7,795 shares during the period. Finally, High Note Wealth LLC purchased a new position in shares of UMB Financial in the 1st quarter valued at about $234,000. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Price Performance

UMBF stock traded up $0.31 on Friday, reaching $109.73. 407,418 shares of the company's stock were exchanged, compared to its average volume of 544,966. The stock has a fifty day moving average of $103.74 and a 200-day moving average of $104.57. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $129.94. The firm has a market cap of $8.33 billion, a PE ratio of 13.80, a P/E/G ratio of 1.45 and a beta of 0.74. 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, April 29th. The bank reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The company had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. UMB Financial's quarterly revenue was up 41.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.47 earnings per share. As a group, equities analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.46%. UMB Financial's payout ratio is 20.13%.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 288,945 shares in the company, valued at $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on UMBF shares. Bank of America started coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price objective for the company. Royal Bank Of Canada decreased their target price on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Barclays boosted their target price on UMB Financial from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler set a $135.00 target price on UMB Financial and gave the stock an "overweight" rating in a research note on Friday, June 13th. Finally, Truist Financial set a $128.00 target price on UMB Financial and gave the stock a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, UMB Financial currently has a consensus rating of "Hold" and an average price target of $127.00.

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.