UMB Financial Co. (NASDAQ:UMBF) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,959 shares of the bank’s stock after selling 393 shares during the quarter. Pitcairn Co.’s holdings in UMB Financial were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in shares of UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after acquiring an additional 102 shares during the period. CWM LLC boosted its position in UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after purchasing an additional 129 shares in the last quarter. Truist Financial Corp grew its holdings in UMB Financial by 3.3% in the second quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock valued at $354,000 after purchasing an additional 136 shares during the last quarter. Commerce Bank increased its position in shares of UMB Financial by 0.3% in the third quarter. Commerce Bank now owns 41,708 shares of the bank’s stock valued at $4,384,000 after buying an additional 142 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of UMB Financial by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock worth $4,496,000 after buying an additional 200 shares during the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UMB Financial

In other news, insider Robert Brian Beaird sold 854 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total value of $105,366.52. Following the transaction, the insider now owns 5,828 shares of the company’s stock, valued at approximately $719,058.64. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Pauls sold 849 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $110.42, for a total value of $93,746.58. Following the completion of the sale, the executive vice president now directly owns 6,483 shares of the company’s stock, valued at $715,852.86. The trade was a 11.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,303 shares of company stock valued at $5,830,165. Company insiders own 8.85% of the company’s stock.

UMB Financial Price Performance

Shares of NASDAQ:UMBF opened at $125.88 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.14 billion, a P/E ratio of 15.74 and a beta of 0.78. The business has a fifty day simple moving average of $111.68 and a 200-day simple moving average of $98.10. UMB Financial Co. has a 52 week low of $69.96 and a 52 week high of $129.94.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.05. The firm had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period in the previous year, the firm earned $2.02 earnings per share. Equities research analysts forecast that UMB Financial Co. will post 9.21 EPS for the current year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.27%. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio (DPR) is presently 20.00%.

Wall Street Analyst Weigh In

UMBF has been the topic of a number of research reports. Piper Sandler increased their price objective on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada began coverage on shares of UMB Financial in a research report on Friday, November 22nd. They issued a “sector perform” rating and a $130.00 price target on the stock. StockNews.com cut shares of UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. Citigroup assumed coverage on UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 target price on the stock. Finally, Barclays raised their price target on UMB Financial from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

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.