Principal Financial Group Inc. Sells 23,360 Shares of UMB Financial Co. (NASDAQ:UMBF)

Principal Financial Group Inc. reduced its position in UMB Financial Co. (NASDAQ:UMBFGet 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

In other UMB Financial news, EVP Uma Wilson sold 515 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $85.00, for a total value of $43,775.00. Following the completion of the transaction, the executive vice president now directly owns 12,657 shares of the company’s stock, valued at $1,075,845. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Uma Wilson sold 515 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $85.00, for a total value of $43,775.00. Following the sale, the executive vice president now directly owns 12,657 shares in the company, valued at $1,075,845. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director L Joshua Sosland purchased 368 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was purchased at an average price of $82.81 per share, for a total transaction of $30,474.08. Following the completion of the acquisition, the director now owns 10,502 shares of the company’s stock, valued at $869,670.62. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 4,389 shares of company stock valued at $356,902. Company insiders own 9.77% of the company’s stock.

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

(Get Rating)

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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Institutional Ownership by Quarter for UMB Financial (NASDAQ:UMBF)

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