Allspring Global Investments Holdings LLC Reduces Position in UMB Financial Co. (NASDAQ:UMBF)

Allspring Global Investments Holdings LLC cut its position in UMB Financial Co. (NASDAQ:UMBF) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,738,795 shares of the bank’s stock after selling 144,955 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UMB Financial were worth $194,380,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in UMB Financial in the third quarter valued at approximately $26,000. Covestor Ltd raised 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 last quarter. USA Financial Formulas lifted its position in UMB Financial by 124.7% during the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock valued at $55,000 after purchasing an additional 268 shares during the period. Point72 Asset Management L.P. purchased a new stake in UMB Financial in the third quarter valued at $83,000. Finally, R Squared Ltd acquired a new stake in UMB Financial during the 4th quarter worth about $117,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other UMB Financial news, CEO J Mariner Kemper sold 24,300 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $124.95, for a total value of $3,036,285.00. Following the completion of the sale, the chief executive officer now directly owns 1,552,304 shares of the company’s stock, valued at $193,960,384.80. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of UMB Financial stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the transaction, the insider now owns 5,828 shares in the company, valued at approximately $719,058.64. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,681 shares of company stock valued at $3,201,798 in the last 90 days. 8.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UMBF. Piper Sandler boosted their price objective on UMB Financial from $142.00 to $143.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Barclays lifted their price target on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company upped their price objective on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Royal Bank of Canada restated a “sector perform” rating and set a $128.00 price target on shares of UMB Financial in a research report on Thursday, January 30th. Finally, Citigroup reissued a “neutral” rating and set a $127.00 target price (down from $130.00) on shares of UMB Financial in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.14.

UMB Financial Stock Up 0.8 %

UMBF stock opened at $114.17 on Wednesday. UMB Financial Co. has a 52 week low of $76.00 and a 52 week high of $129.94. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The firm has a 50-day simple moving average of $117.57 and a 200-day simple moving average of $110.81. The stock has a market capitalization of $5.57 billion, a P/E ratio of 12.70 and a beta of 0.82.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company posted $2.29 earnings per share. Equities analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.60 annualized dividend and a yield of 1.40%. UMB Financial’s dividend payout ratio (DPR) is presently 17.80%.

UMB Financial Company 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.