Millennium Management LLC Sells 72,061 Shares of UMB Financial Co. (NASDAQ:UMBF)

Millennium Management LLC cut its stake in UMB Financial Co. (NASDAQ:UMBF - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 777,308 shares of the bank's stock after selling 72,061 shares during the quarter. Millennium Management LLC owned about 1.59% of UMB Financial worth $87,727,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. USA Financial Formulas lifted its holdings in shares of UMB Financial by 124.7% in the 4th quarter. USA Financial Formulas now owns 483 shares of the bank's stock worth $55,000 after acquiring an additional 268 shares during the last quarter. Covestor Ltd raised its position in UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the period. Venturi Wealth Management LLC purchased a new stake in UMB Financial in the 4th quarter worth about $96,000. Steward Partners Investment Advisory LLC bought a new stake in UMB Financial in the fourth quarter worth about $103,000. Finally, R Squared Ltd purchased a new position in shares of UMB Financial during the fourth quarter valued at approximately $117,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and set a $137.00 target price (up from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. Morgan Stanley cut their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada decreased their price objective on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Finally, Bank of America initiated coverage on shares of UMB Financial in a research note on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $120.33.

Insider Activity at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the sale, the chief executive officer now owns 334,347 shares of the company's stock, valued at approximately $36,313,427.67. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.45% of the stock is currently owned by corporate insiders.

UMB Financial Stock Down 1.1%

UMB Financial stock opened at $106.77 on Thursday. UMB Financial Co. has a twelve month low of $78.56 and a twelve month high of $129.94. The business has a fifty day moving average of $97.44 and a two-hundred day moving average of $109.93. The firm has a market cap of $8.11 billion, a P/E ratio of 11.88 and a beta of 0.72. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.37. The company had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. The firm's quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. On average, analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.50%. UMB Financial's dividend payout ratio (DPR) is presently 20.13%.

About UMB Financial

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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