Bank of New York Mellon Corp Sells 18,000 Shares of UMB Financial Corporation $UMBF

Bank of New York Mellon Corp cut its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 553,541 shares of the bank’s stock after selling 18,000 shares during the period. Bank of New York Mellon Corp’s holdings in UMB Financial were worth $63,679,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Natixis Advisors LLC increased its position in shares of UMB Financial by 4.3% during the fourth quarter. Natixis Advisors LLC now owns 58,833 shares of the bank’s stock valued at $6,768,000 after buying an additional 2,443 shares during the period. Norges Bank purchased a new position in shares of UMB Financial during the fourth quarter worth about $85,885,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of UMB Financial during the fourth quarter worth about $88,000. Moors & Cabot Inc. grew its holdings in shares of UMB Financial by 11.4% during the fourth quarter. Moors & Cabot Inc. now owns 2,943 shares of the bank’s stock worth $339,000 after purchasing an additional 300 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of UMB Financial by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,907,978 shares of the bank’s stock worth $219,529,000 after purchasing an additional 33,078 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Stock Performance

NASDAQ:UMBF opened at $131.82 on Wednesday. The firm has a market cap of $10.02 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.88 and a beta of 0.78. UMB Financial Corporation has a fifty-two week low of $98.16 and a fifty-two week high of $136.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50 day moving average price of $125.08 and a 200-day moving average price of $121.15.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.59. The firm had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 earnings per share. Equities research analysts predict that UMB Financial Corporation will post 12.76 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, June 10th. UMB Financial’s dividend payout ratio is currently 15.26%.

Wall Street Analyst Weigh In

UMBF has been the subject of several research reports. Hovde Group upped 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. Zacks Research raised UMB Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Truist Financial set a $140.00 target price on UMB Financial in a research note on Friday, May 1st. Morgan Stanley cut their target price on UMB Financial from $156.00 to $143.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Finally, Barclays upped 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, UMB Financial currently has an average rating of “Buy” and a consensus price target of $145.55.

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.