Principal Financial Group Inc. trimmed its stake in UMB Financial Co. (NASDAQ:UMBF – Free Report) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 165,387 shares of the bank’s stock after selling 7,405 shares during the period. Principal Financial Group Inc. owned about 0.34% of UMB Financial worth $10,072,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of UMB Financial by 10.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,797 shares of the bank’s stock valued at $1,535,000 after purchasing an additional 1,527 shares in the last quarter. BlackRock Inc. grew its holdings in shares of UMB Financial by 0.3% in the first quarter. BlackRock Inc. now owns 5,164,237 shares of the bank’s stock valued at $501,757,000 after purchasing an additional 16,698 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of UMB Financial by 7.2% in the first quarter. Great West Life Assurance Co. Can now owns 23,436 shares of the bank’s stock valued at $2,339,000 after purchasing an additional 1,581 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of UMB Financial by 2.3% in the first quarter. Yousif Capital Management LLC now owns 23,530 shares of the bank’s stock valued at $2,286,000 after purchasing an additional 525 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of UMB Financial by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,062,319 shares of the bank’s stock valued at $103,218,000 after purchasing an additional 11,391 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
UMBF has been the subject of several analyst reports. Piper Sandler upgraded shares of UMB Financial from a “neutral” rating to an “overweight” rating and set a $74.00 price target for the company in a report on Wednesday, September 13th. Janney Montgomery Scott upgraded shares of UMB Financial from a “neutral” rating to a “buy” rating and set a $73.00 price target for the company in a report on Thursday, October 26th. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Wells Fargo & Company lowered their price target on shares of UMB Financial from $75.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday, October 4th. Finally, Raymond James upgraded shares of UMB Financial from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $82.00 to $80.00 in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.40.
UMB Financial Stock Down 0.9 %
Shares of NASDAQ:UMBF opened at $72.35 on Tuesday. The company has a market capitalization of $3.51 billion, a PE ratio of 9.29 and a beta of 0.79. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. UMB Financial Co. has a twelve month low of $50.68 and a twelve month high of $92.68. The firm has a 50 day simple moving average of $63.99 and a 200-day simple moving average of $63.56.
UMB Financial (NASDAQ:UMBF – Get Free Report) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $2.02 EPS for the quarter, beating the consensus estimate of $1.76 by $0.26. UMB Financial had a net margin of 16.96% and a return on equity of 13.86%. The firm had revenue of $362.16 million during the quarter, compared to the consensus estimate of $363.77 million. On average, equities analysts predict that UMB Financial Co. will post 7.62 EPS for the current fiscal year.
UMB Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a $0.39 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 8th. This represents a $1.56 annualized dividend and a yield of 2.16%. UMB Financial’s dividend payout ratio is 19.51%.
Insider Activity at UMB Financial
In related news, CEO J Mariner Kemper sold 600 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $64.42, for a total value of $38,652.00. Following the completion of the sale, the chief executive officer now owns 1,893,888 shares in the company, valued at approximately $122,004,264.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 10,649 shares of company stock worth $695,499 in the last 90 days. 9.77% of the stock is owned by insiders.
About UMB Financial
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. 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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