Russell Investments Group Ltd. Reduces Holdings in UMB Financial Co. (NASDAQ:UMBF)

Russell Investments Group Ltd. decreased its position in shares of UMB Financial Co. (NASDAQ:UMBF – Get Rating) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,849 shares of the bank’s stock after selling 1,566 shares during the quarter. Russell Investments Group Ltd.’s holdings in UMB Financial were worth $1,908,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. AMG National Trust Bank boosted its stake in shares of UMB Financial by 1.1% during the fourth quarter. AMG National Trust Bank now owns 11,172 shares of the bank’s stock worth $933,000 after buying an additional 124 shares during the period. Arizona State Retirement System boosted its stake in shares of UMB Financial by 3.6% during the fourth quarter. Arizona State Retirement System now owns 12,949 shares of the bank’s stock worth $1,082,000 after buying an additional 453 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of UMB Financial by 9.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 7,921 shares of the bank’s stock worth $662,000 after buying an additional 690 shares during the period. US Asset Management LLC acquired a new stake in shares of UMB Financial during the fourth quarter worth about $109,000. Finally, LPL Financial LLC boosted its stake in shares of UMB Financial by 17.8% during the fourth quarter. LPL Financial LLC now owns 4,127 shares of the bank’s stock worth $345,000 after buying an additional 624 shares during the period. Hedge funds and other institutional investors own 87.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UMBF shares. Wells Fargo & Company decreased their target price on shares of UMB Financial from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. StockNews.com started coverage on shares of UMB Financial in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Keefe, Bruyette & Woods reduced their price objective on shares of UMB Financial from $90.00 to $74.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. Raymond James raised their price objective on shares of UMB Financial from $73.00 to $77.00 in a research report on Thursday, April 27th. Finally, Piper Sandler raised their price objective on shares of UMB Financial from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $83.80.

UMB Financial Price Performance

UMBF stock opened at $59.72 on Tuesday. The firm has a 50 day moving average of $58.88 and a 200-day moving average of $76.04. UMB Financial Co. has a 12-month low of $50.68 and a 12-month high of $99.19. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 6.94 and a beta of 0.77.

UMB Financial (NASDAQ:UMBF – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The bank reported $1.91 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.91. UMB Financial had a net margin of 22.22% and a return on equity of 15.73%. The company had revenue of $371.90 million during the quarter, compared to the consensus estimate of $371.44 million. During the same period last year, the firm earned $2.17 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts expect that UMB Financial Co. will post 7.64 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.55%. UMB Financial’s payout ratio is 17.67%.

Insider Activity

In other UMB Financial news, Director Kris A. Robbins acquired 500 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $57.12 per share, with a total value of $28,560.00. Following the purchase, the director now directly owns 2,910 shares in the company, valued at approximately $166,219.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO J Mariner Kemper sold 1,204 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $88.29, for a total transaction of $106,301.16. Following the completion of the transaction, the chief executive officer now directly owns 1,913,888 shares of the company’s stock, valued at approximately $168,977,171.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kris A. Robbins bought 500 shares of the stock in a transaction on Monday, March 13th. The stock was purchased at an average cost of $57.12 per share, with a total value of $28,560.00. Following the completion of the purchase, the director now directly owns 2,910 shares in the company, valued at approximately $166,219.20. The disclosure for this purchase can be found here. Insiders own 9.77% of the company’s stock.

UMB Financial Company Profile

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UMB Financial Corp. engages in the provision of bank and asset services. It operates through the following segments: Commercial Banking, Institutional Banking, and Personal Banking. The Commercial Banking segment serves the commercial lending and leasing, capital markets, and treasury management needs of the company’s mid-market businesses and governmental entities by offering various products and services.