JPMorgan Chase & Co. Sells 46,392 Shares of UMB Financial Co. (NASDAQ:UMBF)

JPMorgan Chase & Co. reduced its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 12.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 317,180 shares of the bank’s stock after selling 46,392 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.65% of UMB Financial worth $33,339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in shares of UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after purchasing an additional 102 shares during the period. Truist Financial Corp lifted its holdings in UMB Financial by 3.3% in the 2nd quarter. Truist Financial Corp now owns 4,238 shares of the bank’s stock worth $354,000 after buying an additional 136 shares during the period. Commerce Bank grew its position in shares of UMB Financial by 0.3% in the 3rd quarter. Commerce Bank now owns 41,708 shares of the bank’s stock worth $4,384,000 after buying an additional 142 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of UMB Financial by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 53,900 shares of the bank’s stock valued at $4,496,000 after buying an additional 200 shares during the period. Finally, Great Lakes Advisors LLC raised its holdings in shares of UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after acquiring an additional 210 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.

UMB Financial Price Performance

UMBF stock opened at $111.91 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 13.99 and a beta of 0.82. The firm has a 50 day moving average price of $119.34 and a 200-day moving average price of $105.69. UMB Financial Co. has a 52-week low of $76.00 and a 52-week high of $129.94.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The business had revenue of $716.44 million for the quarter, compared to the consensus estimate of $398.83 million. During the same period in the previous year, the company posted $2.02 earnings per share. Equities research analysts forecast that UMB Financial Co. will post 9.21 EPS for the current fiscal year.

UMB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.43%. This is an increase from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date was Tuesday, December 10th. UMB Financial’s dividend payout ratio is 20.00%.

Analyst Ratings Changes

Several analysts recently weighed in on UMBF shares. Morgan Stanley began coverage on shares of UMB Financial in a report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price target on the stock. Royal Bank of Canada initiated coverage on shares of UMB Financial in a research report on Friday, November 22nd. They set a “sector perform” rating and a $130.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Citigroup initiated coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 target price on the stock. Finally, Barclays raised their target price on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.00.

Insider Buying and Selling at UMB Financial

In related news, insider Robert Brian Beaird sold 854 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total transaction of $105,366.52. Following the sale, the insider now directly owns 5,828 shares of the company’s stock, valued at $719,058.64. This trade represents a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $108.83, for a total value of $2,644,569.00. Following the completion of the sale, the chief executive officer now owns 1,576,604 shares of the company’s stock, valued at $171,581,813.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,303 shares of company stock worth $5,879,967. 8.85% of the stock is owned by corporate insiders.

UMB Financial Profile

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. 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, 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.