CENTRAL TRUST Co Lowers Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

CENTRAL TRUST Co cut its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 19.0% in the 3rd quarter, Holdings Channel reports. The fund owned 1,117 shares of the bank’s stock after selling 262 shares during the quarter. CENTRAL TRUST Co’s holdings in UMB Financial were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in shares of UMB Financial by 567.1% during the second quarter. Millennium Management LLC now owns 733,734 shares of the bank’s stock worth $61,208,000 after acquiring an additional 623,751 shares during the period. Vanguard Group Inc. boosted its stake in shares of UMB Financial by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock valued at $409,321,000 after buying an additional 394,578 shares in the last quarter. ProShare Advisors LLC grew its holdings in UMB Financial by 102.7% during the second quarter. ProShare Advisors LLC now owns 752,576 shares of the bank’s stock worth $62,780,000 after acquiring an additional 381,278 shares during the period. American Century Companies Inc. raised its position in UMB Financial by 6.8% in the second quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock worth $146,196,000 after acquiring an additional 111,090 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in UMB Financial by 52.1% in the second quarter. AQR Capital Management LLC now owns 299,270 shares of the bank’s stock valued at $24,639,000 after acquiring an additional 102,467 shares during the period. 87.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Robert Brian Beaird sold 698 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $93.19, for a total transaction of $65,046.62. Following the sale, the insider now owns 6,682 shares in the company, valued at approximately $622,695.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the sale, the chief executive officer now directly owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Brian Beaird sold 698 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $93.19, for a total transaction of $65,046.62. Following the transaction, the insider now directly owns 6,682 shares of the company’s stock, valued at $622,695.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,596 shares of company stock valued at $4,224,884 over the last 90 days. Insiders own 8.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on UMBF shares. Barclays increased their price target on shares of UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler boosted their price target on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup started coverage on UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.33.

UMB Financial Price Performance

UMBF stock opened at $104.07 on Monday. The stock’s 50 day moving average price is $104.20 and its 200 day moving average price is $92.22. The firm has a market cap of $5.07 billion, a P/E ratio of 13.82 and a beta of 0.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 0.73. UMB Financial Co. has a 1 year low of $61.18 and a 1 year high of $113.30.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.15. The business had revenue of $390.03 million for the quarter, compared to the consensus estimate of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 earnings per share. On average, sell-side analysts expect that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.56 annualized dividend and a dividend yield of 1.50%. UMB Financial’s dividend payout ratio is currently 20.72%.

UMB Financial 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.