BlackRock Inc. trimmed its position in UMB Financial Corp (NASDAQ:UMBF) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,292,522 shares of the bank’s stock after selling 72,192 shares during the period. BlackRock Inc. owned approximately 10.79% of UMB Financial worth $338,932,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of UMBF. Quadrant Capital Group LLC boosted its stake in UMB Financial by 1,700.0% during the 1st quarter. Quadrant Capital Group LLC now owns 468 shares of the bank’s stock valued at $29,000 after purchasing an additional 442 shares during the last quarter. Manchester Capital Management LLC acquired a new position in UMB Financial during the 1st quarter valued at about $33,000. Toronto Dominion Bank acquired a new position in UMB Financial during the 4th quarter valued at about $33,000. Magnus Financial Group LLC acquired a new position in UMB Financial during the 1st quarter valued at about $203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in UMB Financial by 14.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,255 shares of the bank’s stock valued at $198,000 after purchasing an additional 408 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ UMBF opened at $63.64 on Thursday. UMB Financial Corp has a twelve month low of $57.00 and a twelve month high of $82.14. The company has a market capitalization of $3.07 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03.
UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.19 EPS for the quarter, beating the consensus estimate of $1.10 by $0.09. UMB Financial had a return on equity of 8.90% and a net margin of 16.66%. The business had revenue of $271.30 million for the quarter, compared to the consensus estimate of $262.18 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. UMB Financial’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts forecast that UMB Financial Corp will post 4.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.20 annualized dividend and a yield of 1.89%. UMB Financial’s payout ratio is 29.78%.
In related news, Chairman J Mariner Kemper sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.24, for a total value of $207,720.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James Cornelius sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $69.38, for a total value of $55,504.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,599 shares of company stock worth $961,167. 10.45% of the stock is owned by company insiders.
A number of equities analysts have recently weighed in on UMBF shares. BidaskClub upgraded UMB Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research upgraded UMB Financial from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Monday, April 29th. Stephens set a $74.00 target price on UMB Financial and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Raymond James boosted their target price on UMB Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $70.25.
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About UMB Financial
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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