UMB Financial Corporation $UMBF Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,534 shares of the bank’s stock after selling 1,049 shares during the quarter. King Luther Capital Management Corp owned 0.07% of UMB Financial worth $5,524,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Truist Financial Corp increased its holdings in shares of UMB Financial by 0.5% in the second quarter. Truist Financial Corp now owns 20,426 shares of the bank’s stock valued at $2,148,000 after buying an additional 97 shares in the last quarter. MAI Capital Management grew its holdings in shares of UMB Financial by 14.7% in the 1st quarter. MAI Capital Management now owns 771 shares of the bank’s stock worth $78,000 after acquiring an additional 99 shares during the last quarter. OLD National Bancorp IN raised its position in shares of UMB Financial by 0.4% during the second quarter. OLD National Bancorp IN now owns 22,834 shares of the bank’s stock worth $2,401,000 after purchasing an additional 100 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of UMB Financial by 4.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank’s stock valued at $383,000 after purchasing an additional 150 shares during the period. Finally, SummerHaven Investment Management LLC boosted its position in shares of UMB Financial by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 9,298 shares of the bank’s stock valued at $978,000 after purchasing an additional 153 shares during the period. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Trading Up 1.8%

NASDAQ UMBF opened at $108.99 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.77 and a debt-to-equity ratio of 0.07. UMB Financial Corporation has a 1-year low of $82.00 and a 1-year high of $129.94. The firm’s fifty day simple moving average is $116.45 and its 200-day simple moving average is $110.15. The company has a market capitalization of $8.28 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.11 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.22. The company had revenue of $678.34 million for the quarter, compared to analyst estimates of $661.60 million. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The business’s revenue was up 67.0% compared to the same quarter last year. During the same period last year, the company earned $2.25 earnings per share. As a group, sell-side analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Wednesday, December 10th will be given a $0.43 dividend. This is an increase from UMB Financial’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 10th. UMB Financial’s dividend payout ratio (DPR) is 19.48%.

Wall Street Analyst Weigh In

A number of analysts have commented on UMBF shares. Barclays set a $155.00 price objective on shares of UMB Financial and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Royal Bank Of Canada raised shares of UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 price objective for the company in a research note on Thursday. Morgan Stanley boosted their target price on shares of UMB Financial from $120.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Finally, Hovde Group started coverage on UMB Financial in a research report on Monday, October 6th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, UMB Financial has an average rating of “Moderate Buy” and a consensus price target of $137.20.

Insider Buying and Selling at UMB Financial

In other news, insider Stacy H. King sold 1,500 shares of UMB Financial stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $118.88, for a total transaction of $178,320.00. Following the sale, the insider owned 9,472 shares of the company’s stock, valued at approximately $1,126,031.36. This trade represents a 13.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Mariner Kemper sold 15,523 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the completion of the sale, the chief executive officer directly owned 1,536,781 shares in the company, valued at $178,773,733.73. This trade represents a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 683 shares of company stock worth $75,961 and have sold 22,145 shares worth $2,578,583. 5.45% of the stock is currently owned by company insiders.

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.