Maltese Capital Management LLC Cuts Stock Holdings in UMB Financial Corporation $UMBF

Maltese Capital Management LLC trimmed its stake in UMB Financial Corporation (NASDAQ:UMBF) by 25.6% during the 3rd quarter, Holdings Channel reports. The firm owned 71,000 shares of the bank’s stock after selling 24,400 shares during the quarter. UMB Financial comprises approximately 1.3% of Maltese Capital Management LLC’s portfolio, making the stock its 27th biggest holding. Maltese Capital Management LLC’s holdings in UMB Financial were worth $8,403,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of UMB Financial by 2.6% during the third quarter. Envestnet Asset Management Inc. now owns 182,721 shares of the bank’s stock valued at $21,625,000 after acquiring an additional 4,589 shares in the last quarter. Steele Capital Management Inc. purchased a new stake in UMB Financial in the third quarter worth $1,468,000. Strs Ohio boosted its holdings in UMB Financial by 10.7% in the third quarter. Strs Ohio now owns 119,700 shares of the bank’s stock valued at $14,166,000 after acquiring an additional 11,600 shares in the last quarter. First Trust Advisors LP increased its position in UMB Financial by 43.0% during the 2nd quarter. First Trust Advisors LP now owns 402,629 shares of the bank’s stock valued at $42,340,000 after purchasing an additional 121,043 shares during the period. Finally, Tributary Capital Management LLC increased its position in UMB Financial by 82.9% during the 3rd quarter. Tributary Capital Management LLC now owns 277,754 shares of the bank’s stock valued at $32,872,000 after purchasing an additional 125,924 shares during the period. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Stock Up 0.5%

Shares of UMB Financial stock opened at $110.97 on Tuesday. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $136.11. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.79 and a beta of 0.78. The company has a 50-day moving average of $122.80 and a 200 day moving average of $118.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.37. UMB Financial had a net margin of 16.90% and a return on equity of 12.14%. The business had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $677.30 million. During the same quarter in the prior year, the company earned $2.49 earnings per share. The business’s revenue was up 66.0% compared to the same quarter last year. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 10th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.72 dividend on an annualized basis and a yield of 1.5%. UMB Financial’s dividend payout ratio is currently 18.84%.

Analysts Set New Price Targets

UMBF has been the subject of several research analyst reports. Royal Bank Of Canada set a $134.00 target price on shares of UMB Financial and gave the stock an “outperform” rating in a research report on Monday, January 12th. TD Cowen reiterated a “buy” rating on shares of UMB Financial in a research report on Thursday, January 29th. Citigroup raised their price objective on shares of UMB Financial from $120.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Morgan Stanley lifted their price objective on UMB Financial from $154.00 to $156.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Finally, Piper Sandler increased their target price on UMB Financial from $145.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $141.18.

Insiders Place Their Bets

In other UMB Financial news, Director Greg M. Graves bought 220 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average cost of $127.83 per share, for a total transaction of $28,122.60. Following the completion of the transaction, the director owned 39,541 shares of the company’s stock, valued at $5,054,526.03. This represents a 0.56% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Charles Gallagher sold 388 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $129.30, for a total transaction of $50,168.40. Following the sale, the director directly owned 12,488 shares of the company’s stock, valued at approximately $1,614,698.40. This represents a 3.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,102 shares of company stock valued at $2,458,247. Insiders own 5.45% of the company’s stock.

UMB Financial Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.