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

UMB Financial Corporation (NASDAQ:UMBF) President James Rine sold 8,246 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was 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 directly owned 61,446 shares in the company, valued at approximately $8,147,125.14. The trade was a 11.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

UMB Financial Trading Up 0.4%

Shares of UMBF opened at $132.51 on Friday. The stock has a fifty day moving average price of $125.91 and a two-hundred day moving average price of $121.51. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. UMB Financial Corporation has a 52-week low of $98.16 and a 52-week high of $136.11.

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

UMB Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UMBF. Hovde Group raised their price target on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Morgan Stanley decreased their price objective on UMB Financial from $156.00 to $143.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Barclays increased 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. Piper Sandler lifted their price target on shares of UMB Financial from $152.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Zacks Research upgraded shares of UMB Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, UMB Financial currently has an average rating of “Buy” and a consensus price target of $145.55.

Hedge Funds Weigh In On UMB Financial

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in UMB Financial by 28.2% during the first quarter. Royal Bank of Canada now owns 42,829 shares of the bank’s stock worth $4,329,000 after purchasing an additional 9,417 shares during the last quarter. NewEdge Advisors LLC increased its stake in UMB Financial by 47.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank’s stock valued at $570,000 after buying an additional 1,803 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 lifted its position in 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 stake 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 during the last quarter. 87.78% of the stock is owned by institutional investors.

About UMB Financial

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.