Vest Financial LLC Sells 12,751 Shares of UMB Financial Corporation $UMBF

Key Points

• Vest Financial LLC cut its UMB Financial stake by 21% in the third quarter, selling 12,751 shares and retaining 48,112 shares valued at approximately $6.3 million. Institutional investors collectively own 87.78% of the company.
• Analysts maintain a generally positive outlook, with UMB Financial receiving a “Moderate Buy” consensus rating and an average price target of $162.86, above its reported share price of $136.16.
• UMB Financial reported quarterly earnings of $3.57 per share, exceeding estimates of $3.12, while revenue also beat expectations. The company increased its quarterly dividend to $0.50 per share, representing a 1.5% annualized yield.

Vest Financial LLC reduced its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 21.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,112 shares of the bank's stock after selling 12,751 shares during the period. Vest Financial LLC owned approximately 0.06% of UMB Financial worth $6,255,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. MBM Wealth Consultants LLC bought a new position in shares of UMB Financial in the first quarter valued at approximately $26,000. Axiom Investment Management LLC purchased a new position in shares of UMB Financial in the 1st quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in UMB Financial in the second quarter valued at about $38,000. Allworth Financial LP bought a new position in UMB Financial during the second quarter valued at $53,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of UMB Financial by 569.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 442 shares of the bank's stock worth $51,000 after acquiring an additional 376 shares during the period. Institutional investors own 87.78% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup reaffirmed a "neutral" rating and issued a $162.00 price objective (up from $144.00) on shares of UMB Financial in a report on Friday, July 31st. Stephens started coverage on UMB Financial in a report on Tuesday, July 14th. They set an "overweight" rating and a $167.00 price objective for the company. Barclays reissued an "overweight" rating and issued a $175.00 target price (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Wells Fargo & Company reduced their price target on shares of UMB Financial from $160.00 to $147.00 and set an "equal weight" rating on the stock in a research report on Tuesday, September 29th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $181.00 price objective (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $162.86.

UMB Financial Stock Up 2.4%

Shares of NASDAQ:UMBF opened at $136.16 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $10.34 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.62 and a beta of 0.82. The stock has a 50 day moving average price of $137.38 and a 200-day moving average price of $135.60. UMB Financial Corporation has a 52-week low of $68.92 and a 52-week high of $144.36.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, beating analysts' consensus estimates of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The firm had revenue of $778.00 million for the quarter, compared to analysts' expectations of $727.63 million. During the same quarter in the previous year, the business posted $2.96 EPS. As a group, equities research analysts anticipate that UMB Financial Corporation will post 13.53 EPS for the current fiscal year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.5%. This is a positive change from UMB Financial's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, September 10th. UMB Financial's dividend payout ratio is presently 16.65%.

Insider Buying and Selling

In other news, Director Susan G. Murphy sold 1,377 shares of UMB Financial stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $145.55, for a total value of $200,422.35. Following the completion of the sale, the director directly owned 10,635 shares in the company, valued at $1,547,924.25. The trade was a 11.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Beaird sold 1,600 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $144.40, for a total value of $231,040.00. Following the transaction, the insider directly owned 8,943 shares in the company, valued at $1,291,369.20. The trade was a 15.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,544 shares of company stock worth $3,775,862 over the last quarter. 5.33% of the stock is owned by insiders.

About UMB Financial

UMB Financial Corporation is a financial 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 serves customers through banking offices and digital channels across the Midwest and other U.S. markets.

UMB Bank offers commercial and personal banking products, including deposit accounts, loans, treasury management, payment services and credit solutions.

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