UMB Financial (NASDAQ:UMBF) President James Rine Sells 8,246 Shares

Key Points

• UMB Financial President James Rine sold 8,246 shares on June 9 at an average price of $132.59, for total proceeds of about $1.09 million. After the sale, he still held 61,446 shares.
• The stock was up slightly in trading, closing around $131.91, near its 12-month high of $136.11. UMBF also trades above its 50-day and 200-day moving averages.
• The company recently reported strong quarterly earnings, with EPS of $3.41 beating estimates and revenue rising 31.1% year over year. It also announced a quarterly dividend of $0.43 per share, yielding about 1.3% annually.

UMB Financial Corporation (NASDAQ:UMBF - Get Free Report) President James Rine sold 8,246 shares of UMB Financial stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the sale, the president owned 61,446 shares in the company, valued at $8,147,125.14. This trade represents a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UMB Financial Stock Up 0.1%

Shares of NASDAQ:UMBF traded up $0.09 during midday trading on Wednesday, hitting $131.91. The stock had a trading volume of 547,654 shares, compared to its average volume of 607,367. UMB Financial Corporation has a 12 month low of $98.16 and a 12 month high of $136.11. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The business's 50-day simple moving average is $125.08 and its 200-day simple moving average is $121.15. The company has a market cap of $10.02 billion, a P/E ratio of 11.70, a PEG ratio of 0.88 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The business had revenue of $739.16 million during the quarter, compared to analysts' expectations of $701.79 million. During the same period last year, the business earned $2.58 earnings per share. The firm's revenue was up 31.1% on a year-over-year basis. On average, sell-side analysts forecast that UMB Financial Corporation will post 12.76 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, June 10th. UMB Financial's payout ratio is 15.26%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UMBF. Truist Financial set a $140.00 target price on shares of UMB Financial in a research report on Friday, May 1st. Royal Bank Of Canada boosted their price target on UMB Financial from $138.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Zacks Research raised UMB Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Barclays boosted their target price on UMB Financial from $160.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, Hovde Group boosted their target price on UMB Financial from $145.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $145.55.

Hedge Funds Weigh In On UMB Financial

A number of institutional investors and hedge funds have recently modified their holdings of UMBF. Royal Bank of Canada boosted its holdings in shares of UMB Financial by 28.2% during the 1st 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 boosted its holdings in shares of UMB Financial by 47.0% during the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock worth $570,000 after buying an additional 1,803 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of UMB Financial by 65.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock worth $21,017,000 after buying an additional 82,083 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of UMB Financial by 161.7% during the 1st quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock worth $5,043,000 after buying an additional 30,820 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of UMB Financial by 6.8% during the 2nd quarter. Cetera Investment Advisers now owns 4,232 shares of the bank's stock worth $445,000 after buying an additional 269 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.