Kevin Charles Gallagher Sells 360 Shares of UMB Financial (NASDAQ:UMBF) Stock

Key Points

• UMB Financial Director Kevin Charles Gallagher sold 360 shares at an average price of $145.13, generating $52,246.80. His remaining direct stake declined 2.95% to 11,863 shares.
• UMB Financial shares rose 0.2% to $145.73 and recently traded near their 52-week high. The company exceeded quarterly earnings and revenue expectations, reporting EPS of $3.57 versus the $3.12 consensus.
• The company announced a 3-for-2 stock split effective September 1 and raised its quarterly dividend to $0.50 from $0.43. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $160.83.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) Director Kevin Charles Gallagher sold 360 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $145.13, for a total value of $52,246.80. Following the sale, the director directly owned 11,863 shares in the company, valued at $1,721,677.19. This trade represents a 2.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Kevin Charles Gallagher also recently made the following trade(s):

• On Wednesday, June 10th, Kevin Charles Gallagher sold 381 shares of UMB Financial stock. The stock was sold at an average price of $132.88, for a total value of $50,627.28.

UMB Financial Stock Up 0.2%

Shares of NASDAQ UMBF traded up $0.22 during mid-day trading on Friday, reaching $145.73. 723,837 shares of the company were exchanged, compared to its average volume of 639,451. UMB Financial Corporation has a 1 year low of $103.38 and a 1 year high of $149.98. The firm has a 50-day moving average of $138.44 and a 200 day moving average of $127.67. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.82 and a beta of 0.77. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.06.

Shares of UMB Financial are scheduled to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly minted shares will be payable to shareholders after the market closes on Monday, August 31st.

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, topping analysts' consensus estimates of $3.12 by $0.45. The business 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 period in the previous year, the company posted $2.96 earnings per share. On average, research analysts expect that UMB Financial Corporation will post 12.85 earnings per share for the current year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a $0.50 dividend. This is an increase from UMB Financial's previous quarterly dividend of $0.43. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. UMB Financial's dividend payout ratio is presently 15.26%.

Hedge Funds Weigh In On UMB Financial

Several hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in shares of UMB Financial by 290.2% in the first quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank's stock valued at $1,506,000 after purchasing an additional 9,932 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of UMB Financial by 40.8% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 38,261 shares of the bank's stock worth $4,402,000 after purchasing an additional 11,083 shares during the period. Farther Finance Advisors LLC boosted its position in UMB Financial by 5,349.0% in the fourth quarter. Farther Finance Advisors LLC now owns 13,568 shares of the bank's stock valued at $1,561,000 after buying an additional 13,319 shares during the last quarter. Clearbridge Investments LLC increased its holdings in UMB Financial by 1.5% in the 4th quarter. Clearbridge Investments LLC now owns 614,037 shares of the bank's stock worth $70,639,000 after buying an additional 9,147 shares during the period. Finally, SG Americas Securities LLC raised its position in UMB Financial by 62.7% during the 1st quarter. SG Americas Securities LLC now owns 20,784 shares of the bank's stock worth $2,344,000 after buying an additional 8,013 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on UMBF. Wells Fargo & Company increased their price objective on UMB Financial from $130.00 to $139.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 target price (up from $168.00) on shares of UMB Financial in a research report on Thursday. Hovde Group raised their price target on UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their price target on UMB Financial from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Truist Financial upped their price objective on shares of UMB Financial from $140.00 to $161.00 and gave the company a "buy" rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, UMB Financial currently has a consensus rating of "Moderate Buy" and an average target price of $160.83.

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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