UMB Financial Corporation $UMBF Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its UMB Financial stake by 75.3% in the second quarter, selling 10,056 shares and retaining 3,299 shares valued at approximately $471,000. Institutional investors collectively own 87.78% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $167.93. Recent targets range from $155 to $190.
• UMB Financial exceeded quarterly expectations with earnings of $3.57 per share and revenue of $778 million, while raising its quarterly dividend to $0.50 per share, or $2.00 annually.

Hsbc Holdings PLC lowered its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 75.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,299 shares of the bank's stock after selling 10,056 shares during the period. Hsbc Holdings PLC's holdings in UMB Financial were worth $471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of UMBF. BlackRock Inc. acquired a new stake in shares of UMB Financial in the 2nd quarter valued at $1,458,386,000. Bank of America Corp DE acquired a new position in shares of UMB Financial in the second quarter valued at approximately $129,153,000. Norges Bank purchased a new stake in UMB Financial in the 4th quarter worth approximately $85,885,000. Bank of New York Mellon Corp purchased a new stake in UMB Financial in the 2nd quarter worth approximately $78,410,000. Finally, Neumeier Poma Investment Counsel LLC purchased a new position in shares of UMB Financial during the 2nd quarter worth $58,645,380. Hedge funds and other institutional investors own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

UMBF has been the topic of several recent analyst reports. UBS Group assumed coverage on UMB Financial in a research report on Monday. They set a "neutral" rating and a $155.00 target price on the stock. Morgan Stanley increased their price target on shares of UMB Financial from $159.00 to $190.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 8th. Stephens assumed coverage on shares of UMB Financial in a research note on Tuesday, July 14th. They set an "overweight" rating and a $167.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on UMB Financial from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Finally, Piper Sandler reissued an "overweight" rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $167.93.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $137.46 on Wednesday. The firm's fifty day simple moving average is $144.42 and its 200 day simple moving average is $132.03. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a twelve month low of $68.92 and a twelve month high of $144.36. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 0.68 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, beating the consensus estimate of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The company had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. During the same period last year, the company posted $2.96 earnings per share. As a group, equities research analysts expect that UMB Financial Corporation will post 13.54 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. This is an increase from UMB Financial's previous quarterly dividend of $0.43. UMB Financial's dividend payout ratio (DPR) is presently 16.65%.

Insider Buying and Selling

In other UMB Financial news, insider Nikki Farentino Newton sold 2,000 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total transaction of $297,200.00. Following the sale, the insider directly owned 11,981 shares in the company, valued at $1,780,376.60. The trade was a 14.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Phillip Mason sold 800 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total value of $117,600.00. Following the completion of the transaction, the insider directly owned 8,894 shares in the company, valued at approximately $1,307,418. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,544 shares of company stock worth $3,775,862 over the last quarter. Company insiders own 5.33% of the company's stock.

UMB Financial Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities.

The company offers commercial and personal banking products, including deposit accounts, lending, treasury management, wealth management and investment services. UMB also provides institutional banking, fund administration, securities custody, corporate trust and payment solutions through its specialized financial services businesses.

Founded in 1913, UMB serves customers through banking locations and business operations across portions of the Midwest and Western United States, as well as through nationwide institutional and payment-services platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.