Victory Capital Management Inc. cut its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 14.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,236,487 shares of the bank's stock after selling 211,707 shares during the period. Victory Capital Management Inc. owned approximately 1.63% of UMB Financial worth $125,009,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new stake in shares of UMB Financial in the fourth quarter valued at approximately $1,752,000. Raymond James Financial Inc. acquired a new stake in UMB Financial during the fourth quarter worth approximately $11,357,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in UMB Financial by 11.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,645 shares of the bank's stock worth $1,314,000 after acquiring an additional 1,190 shares during the last quarter. HighTower Advisors LLC acquired a new stake in UMB Financial during the fourth quarter worth approximately $201,000. Finally, Swiss National Bank boosted its position in UMB Financial by 0.8% during the fourth quarter. Swiss National Bank now owns 91,100 shares of the bank's stock worth $10,282,000 after acquiring an additional 700 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at UMB Financial
In related news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction of $550,995.72. Following the sale, the chief executive officer owned 288,945 shares of the company's stock, valued at $29,417,490.45. The trade was a 1.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.45% of the stock is owned by company insiders.
Analyst Ratings Changes
UMBF has been the topic of a number of analyst reports. Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Bank of America initiated coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price on the stock. Wells Fargo & Company raised their target price on shares of UMB Financial from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Royal Bank Of Canada decreased their price target on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Finally, Piper Sandler set a $135.00 price target on shares of UMB Financial and gave the company an "overweight" rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $127.00.
Check Out Our Latest Stock Analysis on UMBF
UMB Financial Trading Up 0.3%
Shares of UMBF stock traded up $0.31 during mid-day trading on Friday, reaching $109.73. The company's stock had a trading volume of 381,420 shares, compared to its average volume of 545,239. The company's 50 day simple moving average is $103.74 and its 200-day simple moving average is $104.57. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.33 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.44 and a beta of 0.74.
UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The business had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. During the same quarter last year, the firm posted $2.47 EPS. The business's revenue for the quarter was up 41.4% compared to the same quarter last year. On average, research analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.
UMB Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, June 10th. UMB Financial's dividend payout ratio is presently 20.13%.
UMB Financial Company Profile
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Free Report)
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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