Principal Financial Group Inc. reduced its position in UMB Financial Co. (NASDAQ:UMBF – Get Rating) by 12.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 167,468 shares of the bank’s stock after selling 23,360 shares during the period. Principal Financial Group Inc.’s holdings in UMB Financial were worth $14,419,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of UMB Financial by 0.3% in the 1st quarter. BlackRock Inc. now owns 5,164,237 shares of the bank’s stock valued at $501,757,000 after buying an additional 16,698 shares during the period. Vanguard Group Inc. increased its stake in shares of UMB Financial by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 4,311,237 shares of the bank’s stock valued at $418,879,000 after buying an additional 10,791 shares during the period. State Street Corp increased its stake in shares of UMB Financial by 81.2% in the 1st quarter. State Street Corp now owns 3,708,145 shares of the bank’s stock valued at $361,563,000 after buying an additional 1,661,449 shares during the period. Victory Capital Management Inc. increased its stake in shares of UMB Financial by 2.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,522,544 shares of the bank’s stock valued at $131,091,000 after buying an additional 31,443 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of UMB Financial by 0.9% in the 1st quarter. American Century Companies Inc. now owns 1,300,221 shares of the bank’s stock valued at $126,329,000 after buying an additional 11,224 shares during the period. 88.38% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently commented on UMBF. StockNews.com assumed coverage on UMB Financial in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James decreased their price objective on UMB Financial from $110.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. Piper Sandler decreased their price objective on UMB Financial to $92.00 in a research note on Thursday, September 29th. Finally, Wells Fargo & Company decreased their price objective on UMB Financial from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, October 27th.
Insider Buying and Selling at UMB Financial
UMB Financial Stock Down 0.5 %
NASDAQ:UMBF opened at $83.88 on Friday. UMB Financial Co. has a 1 year low of $77.48 and a 1 year high of $112.24. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.15. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 9.96 and a beta of 0.84. The stock has a 50-day moving average price of $85.90 and a two-hundred day moving average price of $88.55.
UMB Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.81%. This is a boost from UMB Financial’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 9th. UMB Financial’s payout ratio is presently 17.58%.
UMB Financial Company Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. 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, accounts receivable financing, 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.
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