UMB Financial Corporation $UMBF Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,677 shares of the bank’s stock after selling 19,204 shares during the quarter. Legal & General Group Plc’s holdings in UMB Financial were worth $13,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in UMB Financial by 636.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after buying an additional 1,286,543 shares in the last quarter. Wellington Management Group LLP grew its holdings in UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after buying an additional 751,525 shares in the last quarter. State Street Corp grew its holdings in UMB Financial by 7.9% in the 2nd quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after buying an additional 313,414 shares in the last quarter. William Blair Investment Management LLC bought a new position in UMB Financial in the 3rd quarter worth approximately $29,484,000. Finally, Freestone Grove Partners LP bought a new position in UMB Financial in the 3rd quarter worth approximately $29,298,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Cowen increased their price objective on UMB Financial from $141.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings raised UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Hovde Group increased their price objective on UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Barclays increased their price objective on UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler increased their price objective on UMB Financial from $152.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, UMB Financial presently has a consensus rating of “Buy” and a consensus price target of $145.55.

UMB Financial Stock Performance

Shares of NASDAQ UMBF opened at $129.19 on Wednesday. The stock has a fifty day moving average price of $122.88 and a two-hundred day moving average price of $120.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $9.82 billion, a P/E ratio of 11.46, a PEG ratio of 0.87 and a beta of 0.78. UMB Financial Corporation has a 1 year low of $98.16 and a 1 year high of $136.11.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.59. The firm had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The firm’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. Research analysts forecast that UMB Financial Corporation will post 12.76 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, June 10th. UMB Financial’s dividend payout ratio is 15.26%.

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.