Mutual of America Capital Management LLC Cuts Position in UMB Financial Co. (NASDAQ:UMBF)

Mutual of America Capital Management LLC lessened its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 3.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 102,795 shares of the bank’s stock after selling 3,302 shares during the period. Mutual of America Capital Management LLC’s holdings in UMB Financial were worth $10,805,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in UMBF. Janney Montgomery Scott LLC acquired a new stake in UMB Financial during the 1st quarter worth about $252,000. SG Americas Securities LLC grew its position in shares of UMB Financial by 61.2% during the 1st quarter. SG Americas Securities LLC now owns 4,526 shares of the bank’s stock valued at $394,000 after acquiring an additional 1,719 shares during the period. Russell Investments Group Ltd. increased its position in shares of UMB Financial by 1.9% in the first quarter. Russell Investments Group Ltd. now owns 30,016 shares of the bank’s stock valued at $2,611,000 after buying an additional 567 shares in the last quarter. US Bancorp DE increased its holdings in UMB Financial by 5.0% in the 1st quarter. US Bancorp DE now owns 12,980 shares of the bank’s stock worth $1,129,000 after acquiring an additional 622 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of UMB Financial by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after purchasing an additional 394,578 shares in the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total value of $2,473,983.00. Following the transaction, the chief executive officer now directly owns 1,600,904 shares in the company, valued at approximately $162,988,036.24. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Pauls sold 849 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $110.42, for a total value of $93,746.58. Following the completion of the sale, the executive vice president now directly owns 6,483 shares in the company, valued at approximately $715,852.86. This trade represents a 11.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,449 shares of company stock valued at $5,724,799 over the last three months. 8.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on UMBF shares. Barclays increased their target price on shares of UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler increased their target price on shares of UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price objective on shares of UMB Financial from $107.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Citigroup assumed coverage on UMB Financial in a report on Thursday, October 10th. They set a “buy” rating and a $127.00 price target on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

UMB Financial Price Performance

Shares of NASDAQ UMBF opened at $121.49 on Monday. The company’s 50-day moving average price is $108.82 and its 200 day moving average price is $95.95. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 15.19 and a beta of 0.78. UMB Financial Co. has a 52 week low of $69.96 and a 52 week high of $128.73. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.11.

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. The firm had revenue of $716.44 million during the quarter, compared to analysts’ expectations of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same period in the previous year, the company earned $2.02 EPS. As a group, research analysts forecast that UMB Financial Co. will post 9.33 earnings per share for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a $0.40 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. UMB Financial’s dividend payout ratio is presently 19.50%.

About UMB Financial

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.