Principal Financial Group Inc. Trims Stock Holdings in UMB Financial Corporation $UMBF

Principal Financial Group Inc. lowered its holdings in UMB Financial Corporation (NASDAQ:UMBF) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 712,859 shares of the bank’s stock after selling 14,160 shares during the period. Principal Financial Group Inc.’s holdings in UMB Financial were worth $80,403,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of UMBF. Fifth Third Bancorp grew its stake in UMB Financial by 5,109.5% in the 1st quarter. Fifth Third Bancorp now owns 30,007 shares of the bank’s stock valued at $3,384,000 after buying an additional 29,431 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of UMB Financial by 290.2% during the first quarter. Hsbc Holdings PLC now owns 13,355 shares of the bank’s stock worth $1,506,000 after acquiring an additional 9,932 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of UMB Financial during the first quarter worth $412,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of UMB Financial by 2.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,616 shares of the bank’s stock worth $1,649,000 after acquiring an additional 400 shares during the period. Finally, KERR FINANCIAL PLANNING Corp boosted its holdings in shares of UMB Financial by 2,473.4% in the first quarter. KERR FINANCIAL PLANNING Corp now owns 5,224 shares of the bank’s stock worth $589,000 after acquiring an additional 5,021 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President James D. Rine sold 8,246 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the transaction, the president owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. The trade was a 11.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Charles Gallagher sold 381 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the transaction, the director owned 12,223 shares in the company, valued at approximately $1,624,192.24. This trade represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 5.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UMBF shares. Citigroup lifted their price target on UMB Financial from $138.00 to $144.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Truist Financial raised their target price on UMB Financial from $140.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Royal Bank Of Canada lifted their target price on UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. TD Cowen upped their price target on UMB Financial from $141.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Hovde Group increased their price target on shares of UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, UMB Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.17.

UMB Financial Trading Up 1.9%

UMB Financial stock opened at $148.02 on Friday. The stock has a market cap of $11.25 billion, a P/E ratio of 13.13, a PEG ratio of 0.80 and a beta of 0.77. UMB Financial Corporation has a fifty-two week low of $103.38 and a fifty-two week high of $148.31. The firm’s fifty day moving average price is $135.41 and its 200-day moving average price is $125.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.59. The company had revenue of $739.16 million for the quarter, compared to the consensus estimate of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The firm’s revenue was up 31.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 earnings per share. Equities research analysts forecast that UMB Financial Corporation will post 12.85 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th were issued a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.72 annualized dividend and a dividend yield of 1.2%. UMB Financial’s dividend payout ratio (DPR) is presently 15.26%.

UMB Financial Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.