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

Pitcairn Co. decreased its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 9.0% in the 3rd quarter, Holdings Channel reports. 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 (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of UMB Financial in the 3rd quarter valued at about $26,000. Covestor Ltd raised its position in shares of UMB Financial by 31.0% during the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after purchasing an additional 102 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of UMB Financial in the 2nd quarter worth approximately $128,000. CWM LLC boosted its position in UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock valued at $162,000 after purchasing an additional 129 shares during the period. Finally, Heritage Family Offices LLP bought a new position in UMB Financial during the 3rd quarter worth $203,000. 87.78% of the stock is owned by institutional investors and hedge funds.

UMB Financial Trading Down 1.3 %

Shares of NASDAQ:UMBF opened at $125.88 on Wednesday. UMB Financial Co. has a 1-year low of $69.96 and a 1-year high of $129.94. The company has a 50 day moving average price of $111.68 and a 200 day moving average price of $98.10. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 15.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76.

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

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.40 per share. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 1.27%. The ex-dividend date is Tuesday, December 10th. UMB Financial’s payout ratio is 20.00%.

Insider Activity

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now owns 3,211 shares in the company, valued at $329,127.50. This represents a 60.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $123.38, for a total transaction of $105,366.52. Following the transaction, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. This represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,303 shares of company stock worth $5,830,165 over the last quarter. Corporate insiders own 8.85% of the company’s stock.

Analyst Upgrades and Downgrades

UMBF has been the topic of a number of analyst reports. Royal Bank of Canada assumed coverage on shares of UMB Financial in a report on Friday, November 22nd. They issued a “sector perform” rating and a $130.00 price objective on the stock. Citigroup began coverage on shares of UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target on the stock. Morgan Stanley initiated coverage on UMB Financial in a research report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price objective for the company. Piper Sandler raised their price target on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Barclays raised their price objective on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, UMB Financial has an average rating of “Moderate Buy” and an average 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.