Peregrine Capital Management LLC Sells 8,371 Shares of UMB Financial Corporation $UMBF

Peregrine Capital Management LLC reduced its position in UMB Financial Corporation (NASDAQ:UMBF) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,419 shares of the bank’s stock after selling 8,371 shares during the quarter. Peregrine Capital Management LLC owned 0.07% of UMB Financial worth $5,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group raised its holdings in shares of UMB Financial by 4,840.0% in the first quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock valued at $25,000 after acquiring an additional 242 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of UMB Financial in the first quarter valued at about $27,000. McIlrath & Eck LLC bought a new stake in shares of UMB Financial in the first quarter valued at about $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of UMB Financial in the first quarter valued at about $35,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of UMB Financial by 143.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock valued at $37,000 after acquiring an additional 213 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays set a $155.00 price objective on UMB Financial and gave the company an “overweight” rating in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on shares of UMB Financial from $122.00 to $128.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th. Cowen initiated coverage on shares of UMB Financial in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Piper Sandler boosted their target price on shares of UMB Financial from $135.00 to $148.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, Truist Financial boosted their target price on shares of UMB Financial from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.00.

Insider Buying and Selling at UMB Financial

In other news, insider Shannon Andresen Johnson sold 1,367 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total transaction of $164,832.86. Following the sale, the insider owned 34,124 shares in the company, valued at approximately $4,114,671.92. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stacy H. King sold 1,500 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $118.88, for a total value of $178,320.00. Following the sale, the insider owned 9,472 shares in the company, valued at $1,126,031.36. The trade was a 13.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. Insiders own 5.45% of the company’s stock.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $112.29 on Wednesday. The company has a market capitalization of $8.53 billion, a PE ratio of 12.91, a P/E/G ratio of 1.15 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The company has a 50-day simple moving average of $118.51 and a two-hundred day simple moving average of $109.38. UMB Financial Corporation has a one year low of $82.00 and a one year high of $129.94.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The business had revenue of $678.34 million for the quarter, compared to analyst estimates of $661.60 million. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The company’s revenue was up 67.0% on a year-over-year basis. Research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

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.