Bank of New York Mellon Corp Sells 32,822 Shares of UMB Financial Co. (NASDAQ:UMBF)

Bank of New York Mellon Corp trimmed its stake in UMB Financial Co. (NASDAQ:UMBF) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 451,144 shares of the bank’s stock after selling 32,822 shares during the period. Bank of New York Mellon Corp owned about 0.92% of UMB Financial worth $50,916,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of UMBF. Covestor Ltd raised its position in UMB Financial by 31.0% in the 3rd quarter. Covestor Ltd now owns 431 shares of the bank’s stock valued at $45,000 after purchasing an additional 102 shares during the last quarter. USA Financial Formulas increased its stake in shares of UMB Financial by 124.7% in the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock valued at $55,000 after buying an additional 268 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of UMB Financial in the third quarter valued at about $83,000. Venturi Wealth Management LLC acquired a new position in UMB Financial during the 4th quarter worth about $96,000. Finally, R Squared Ltd bought a new stake in UMB Financial during the 4th quarter worth about $117,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $128.00 target price on shares of UMB Financial in a research note on Thursday, January 30th. Morgan Stanley started coverage on shares of UMB Financial in a research report on Thursday, November 21st. They issued an “overweight” rating and a $156.00 price objective for the company. Citigroup reaffirmed a “neutral” rating and set a $127.00 price objective (down previously from $130.00) on shares of UMB Financial in a report on Monday, February 3rd. Barclays lifted 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. Finally, Piper Sandler upped their price target on UMB Financial from $142.00 to $143.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $130.14.

UMB Financial Trading Up 0.5 %

NASDAQ UMBF opened at $104.49 on Thursday. UMB Financial Co. has a 12 month low of $76.00 and a 12 month high of $129.94. The stock has a 50-day simple moving average of $113.88 and a 200 day simple moving average of $112.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.10 billion, a PE ratio of 11.62 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. During the same period in the previous year, the firm posted $2.29 earnings per share. Research analysts forecast that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.53%. UMB Financial’s dividend payout ratio is 17.80%.

Insider Activity

In other UMB Financial news, CEO J Mariner Kemper sold 3,500 shares of UMB Financial stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.61, for a total value of $380,135.00. Following the transaction, the chief executive officer now owns 334,347 shares of the company’s stock, valued at approximately $36,313,427.67. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $114.13, for a total transaction of $60,146.51. Following the sale, the director now directly owns 13,010 shares of the company’s stock, valued at $1,484,831.30. This represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. 8.85% of the stock is owned by company 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.