Insider Selling: UMB Financial (NASDAQ:UMBF) Insider Sells 2,000 Shares of Stock

Key Points

• Insider sale: Nikki Farentino Newton sold 2,000 UMB Financial shares for approximately $297,200, reducing her position by 14.31% to 11,981 shares.
• Strong performance and upcoming split: UMB Financial shares rose 0.9% to $148.33 after the bank exceeded quarterly earnings and revenue estimates. The company will conduct a 3-for-2 stock split before trading opens on September 1.
• Positive shareholder and analyst outlook: UMB Financial raised its quarterly dividend to $0.50, while analysts maintain a “Moderate Buy” consensus with an average price target of $162.00.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) insider Nikki Farentino Newton sold 2,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $148.60, for a total value of $297,200.00. Following the sale, the insider owned 11,981 shares in the company, valued at approximately $1,780,376.60. The trade was a 14.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

UMB Financial Trading Up 0.9%

UMBF stock traded up $1.29 during mid-day trading on Tuesday, reaching $148.33. The company's stock had a trading volume of 703,631 shares, compared to its average volume of 638,357. UMB Financial Corporation has a 12 month low of $103.38 and a 12 month high of $150.00. 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 business's 50 day moving average price is $139.04 and its 200 day moving average price is $128.06. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.77 and a beta of 0.77.

UMB Financial shares are going to split before the market opens on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly minted shares will be distributed 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 EPS for the quarter, topping the consensus estimate of $3.12 by $0.45. The company had revenue of $778.00 million during the quarter, compared to the consensus estimate of $727.63 million. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. During the same quarter last year, the firm posted $2.96 EPS. On average, equities research analysts predict that UMB Financial Corporation will post 13.37 EPS 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.3%. This is an increase from UMB Financial's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 10th. UMB Financial's payout ratio is presently 16.65%.

Institutional Trading of UMB Financial

Several institutional investors and hedge funds have recently modified their holdings of UMBF. Royal Bank of Canada grew its holdings in UMB Financial by 28.2% during the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock worth $4,329,000 after buying an additional 9,417 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of UMB Financial by 47.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock worth $570,000 after acquiring an additional 1,803 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of UMB Financial by 65.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock valued at $21,017,000 after purchasing an additional 82,083 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of UMB Financial by 161.7% in the first quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock valued at $5,043,000 after purchasing an additional 30,820 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of UMB Financial by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,232 shares of the bank's stock valued at $445,000 after purchasing an additional 269 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UMBF shares. Keefe, Bruyette & Woods boosted their target price on UMB Financial from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. Morgan Stanley raised their price objective on UMB Financial from $143.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Stephens assumed 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. Zacks Research lowered UMB Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company increased their target price on UMB Financial from $130.00 to $139.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.00.

UMB Financial Company Profile

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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