UMB Financial Corporation $UMBF Shares Sold by Tributary Capital Management LLC

Key Points

• Tributary Capital Management LLC reduced its stake in UMB Financial Corporation by 21.5%, selling 41,462 shares and retaining about 151,830 shares worth approximately $15.97 million.
• UMB Financial reported earnings of $2.96 per share for the most recent quarter, exceeding estimates and reflecting a 76.7% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.40 per share, yielding 1.4%, with a payout ratio of 18.39% as of the last report.

Tributary Capital Management LLC cut its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 21.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,830 shares of the bank's stock after selling 41,462 shares during the period. Tributary Capital Management LLC owned approximately 0.20% of UMB Financial worth $15,966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group boosted its position in shares of UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock worth $25,000 after buying an additional 242 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in UMB Financial in the first quarter worth approximately $27,000. McIlrath & Eck LLC acquired a new stake in UMB Financial in the first quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in UMB Financial in the first quarter worth approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in UMB Financial by 143.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock worth $37,000 after purchasing an additional 213 shares during the period. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Price Performance

Shares of NASDAQ:UMBF opened at $111.40 on Thursday. The company's fifty day moving average is $118.79 and its two-hundred day moving average is $108.58. 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 Corporation has a 12-month low of $82.00 and a 12-month high of $129.94. The company has a market cap of $8.46 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The company had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. During the same period in the previous year, the business earned $2.16 EPS. The company's revenue was up 76.7% on a year-over-year basis. Equities analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, September 10th. UMB Financial's dividend payout ratio is 18.39%.

Insider Activity at UMB Financial

In other news, Director Greg M. Graves purchased 234 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was bought at an average cost of $120.44 per share, for a total transaction of $28,182.96. Following the completion of the acquisition, the director directly owned 38,034 shares of the company's stock, valued at approximately $4,580,814.96. The trade was a 0.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stacy H. King sold 1,500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $118.88, for a total transaction of $178,320.00. Following the sale, the insider owned 9,472 shares of the company's stock, valued at $1,126,031.36. This trade represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. 5.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UMBF has been the subject of a number of research analyst reports. TD Cowen assumed coverage on UMB Financial in a research report on Thursday, September 25th. They issued a "buy" rating and a $151.00 target price for the company. Raymond James Financial upped their price target on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of UMB Financial in a report on Wednesday, October 8th. Morgan Stanley upped their price target on UMB Financial from $120.00 to $154.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Finally, Barclays set a $155.00 price target on UMB Financial and gave the company an "overweight" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, UMB Financial has an average rating of "Moderate Buy" and a consensus target price of $138.00.

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.

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