Insider Selling: UMB Financial (NASDAQ:UMBF) CAO Sells $21,358.50 in Stock

Key Points

• UMB Financial CAO David Carl Odgers sold 145 shares at an average price of $147.30, generating $21,358.50; he retained 6,538 shares after the transaction.
• UMB Financial shares fell 1.1% to $145.13, while the company announced a 3-for-2 stock split and raised its quarterly dividend from $0.43 to $0.50 per share.
• The bank exceeded quarterly expectations, reporting $3.57 in earnings per share versus the $3.12 consensus estimate and $778 million in revenue; analysts maintain a “Moderate Buy” consensus with an average price target of $162.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) CAO David Carl Odgers sold 145 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $147.30, for a total value of $21,358.50. Following the transaction, the chief accounting officer owned 6,538 shares in the company, valued at $963,047.40. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

UMB Financial Trading Down 1.1%

UMBF traded down $1.68 during midday trading on Thursday, hitting $145.13. The company's stock had a trading volume of 428,472 shares, compared to its average volume of 636,049. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market cap of $11.02 billion, a P/E ratio of 12.08, a PEG ratio of 0.73 and a beta of 0.77. The firm has a 50-day moving average price of $139.62 and a two-hundred day moving average price of $128.42. UMB Financial Corporation has a 52-week low of $103.38 and a 52-week high of $150.00.

UMB Financial's stock is going to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly created shares will be payable to shareholders after the closing bell on Monday, August 31st.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The business had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. During the same period in the prior year, the firm posted $2.96 EPS. On average, research analysts anticipate that UMB Financial Corporation will post 13.48 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.50 per share. This is an increase from UMB Financial's previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. UMB Financial's payout ratio is 14.32%.

Hedge Funds Weigh In On UMB Financial

A number of hedge funds have recently made changes to their positions in the business. UMB Bank n.a. boosted its position in UMB Financial by 11.4% during the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank's stock worth $553,322,000 after purchasing an additional 493,875 shares during the period. State Street Corp raised its position in UMB Financial by 7.9% in the second quarter. State Street Corp now owns 4,296,190 shares of the bank's stock valued at $453,461,000 after purchasing an additional 313,414 shares during the period. Wellington Management Group LLP raised its position in UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank's stock valued at $366,743,000 after purchasing an additional 751,525 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of UMB Financial by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank's stock worth $328,200,000 after purchasing an additional 55,005 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of UMB Financial by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank's stock worth $219,529,000 after purchasing an additional 33,078 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on UMBF shares. Morgan Stanley boosted their price objective on shares of UMB Financial from $143.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of UMB Financial in a research report on Friday, July 24th. Hovde Group lifted their target price on UMB Financial from $145.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Barclays reissued an "overweight" rating and set a $175.00 price target (up from $170.00) on shares of UMB Financial in a research report on Monday. Finally, Wells Fargo & Company upped their price target on UMB Financial from $130.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $162.00.

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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