Atria Wealth Solutions Inc. Lowers Holdings in UMB Financial Corporation $UMBF

Atria Wealth Solutions Inc. reduced its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 13.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,147 shares of the bank’s stock after selling 483 shares during the period. Atria Wealth Solutions Inc.’s holdings in UMB Financial were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of UMBF. Vanguard Group Inc. boosted its stake in shares of UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock worth $741,342,000 after acquiring an additional 2,570,283 shares in the last quarter. Earnest Partners LLC purchased a new stake in shares of UMB Financial during the 1st quarter worth about $144,351,000. Dimensional Fund Advisors LP boosted its stake in shares of UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock worth $273,029,000 after acquiring an additional 1,185,671 shares in the last quarter. Nuveen LLC purchased a new stake in shares of UMB Financial during the 1st quarter worth about $51,324,000. Finally, Wellington Management Group LLP boosted its stake in shares of UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock worth $243,359,000 after acquiring an additional 385,830 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Up 3.2%

UMBF stock opened at $112.36 on Tuesday. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.11 and a beta of 0.73. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The firm has a 50-day moving average of $118.95 and a two-hundred day moving average of $108.34.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The company had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. During the same quarter in the prior year, the firm earned $2.16 EPS. UMB Financial’s quarterly revenue was up 76.7% on a year-over-year basis. As a group, analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. UMB Financial’s dividend payout ratio is 18.39%.

Analyst Upgrades and Downgrades

UMBF has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of UMB Financial in a research note on Wednesday, October 8th. Piper Sandler upped their price target on shares of UMB Financial from $135.00 to $148.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Barclays set a $155.00 price target on shares of UMB Financial and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Finally, Truist Financial upped their price target on shares of UMB Financial from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.00.

Insiders Place Their Bets

In other news, insider Phillip James Mason sold 750 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $120.97, for a total value of $90,727.50. Following the completion of the sale, the insider owned 8,815 shares of the company’s stock, valued at $1,066,350.55. This represents a 7.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Amy Harris sold 500 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $122.02, for a total transaction of $61,010.00. Following the completion of the sale, the executive vice president directly owned 7,285 shares of the company’s stock, valued at approximately $888,915.70. This trade represents a 6.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. Corporate insiders own 5.45% of the company’s stock.

UMB Financial Company Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. 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.