UMB Financial Corporation $UMBF Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management reduced its stake in UMB Financial by 7% in the fourth quarter, selling 19,930 shares and leaving it with 266,751 shares valued at about $30.7 million.
• UMB Financial reported strong quarterly results, posting earnings of $3.41 per share versus estimates of $2.82 and revenue of $739.16 million, up 31.1% year over year.
• The company also announced a quarterly dividend of $0.43 per share, and analysts remain generally positive, with an average rating of “Buy” and an average price target of $145.55.

Fisher Asset Management LLC cut its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 266,751 shares of the bank's stock after selling 19,930 shares during the quarter. Fisher Asset Management LLC owned about 0.35% of UMB Financial worth $30,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hantz Financial Services Inc. boosted its position in UMB Financial by 43.1% during the fourth quarter. Hantz Financial Services Inc. now owns 2,067 shares of the bank's stock worth $238,000 after acquiring an additional 623 shares during the last quarter. Global Retirement Partners LLC boosted its position in UMB Financial by 419.2% during the fourth quarter. Global Retirement Partners LLC now owns 405 shares of the bank's stock worth $47,000 after acquiring an additional 327 shares during the last quarter. Covestor Ltd boosted its position in UMB Financial by 43.1% during the fourth quarter. Covestor Ltd now owns 1,142 shares of the bank's stock worth $131,000 after acquiring an additional 344 shares during the last quarter. Handelsbanken Fonder AB boosted its position in UMB Financial by 15.6% during the fourth quarter. Handelsbanken Fonder AB now owns 20,790 shares of the bank's stock worth $2,392,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in UMB Financial by 86.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,351 shares of the bank's stock worth $731,000 after acquiring an additional 2,944 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Stock Performance

NASDAQ UMBF opened at $134.39 on Wednesday. The stock has a market cap of $10.21 billion, a PE ratio of 11.92, a P/E/G ratio of 0.89 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a twelve month low of $98.16 and a twelve month high of $136.11. The stock has a fifty day simple moving average of $121.23 and a 200-day simple moving average of $119.59.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.59. The business had revenue of $739.16 million during the quarter, compared to analysts' expectations of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The company's revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. Equities analysts anticipate that UMB Financial Corporation will post 12.76 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, June 10th. UMB Financial's dividend payout ratio is currently 15.26%.

Wall Street Analyst Weigh In

UMBF has been the topic of a number of recent research reports. Piper Sandler boosted their price target on shares of UMB Financial from $152.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, April 27th. Citigroup boosted their target price on shares of UMB Financial from $120.00 to $138.00 and gave the company a "neutral" rating in a report on Thursday, January 29th. Truist Financial set a $140.00 target price on shares of UMB Financial in a report on Friday, May 1st. Finally, Barclays upped their price objective on UMB Financial from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, UMB Financial currently has an average rating of "Buy" and an average target price of $145.55.

About UMB Financial

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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