JPMorgan Chase & Co. Sells 73,783 Shares of UMB Financial Corporation $UMBF

JPMorgan Chase & Co. cut its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 19.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,379 shares of the bank’s stock after selling 73,783 shares during the quarter. JPMorgan Chase & Co. owned 0.42% of UMB Financial worth $33,165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its holdings in shares of UMB Financial by 4,840.0% during the 1st quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after acquiring an additional 242 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in UMB Financial in the first quarter worth about $27,000. McIlrath & Eck LLC bought a new position in UMB Financial during the first quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in UMB Financial during the first quarter worth about $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in UMB Financial by 143.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock valued at $37,000 after purchasing an additional 213 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UMBF has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of UMB Financial in a report on Monday. Raymond James Financial reiterated a “strong-buy” rating and issued a $135.00 target price (down previously from $138.00) on shares of UMB Financial in a research note on Thursday, October 30th. Piper Sandler restated an “overweight” rating and set a $145.00 price target (down from $148.00) on shares of UMB Financial in a research report on Thursday, October 30th. Royal Bank Of Canada upgraded UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 price objective for the company in a research report on Thursday, November 6th. Finally, Barclays set a $155.00 price objective on UMB Financial and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, UMB Financial has an average rating of “Moderate Buy” and an average price target of $137.20.

Insider Activity

In other news, insider Nikki Farentino Newton sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $106.09, for a total transaction of $137,917.00. Following the completion of the sale, the insider owned 13,667 shares in the company, valued at approximately $1,449,932.03. This trade represents a 8.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greg M. Graves acquired 264 shares of UMB Financial stock in a transaction dated Monday, November 3rd. The shares were purchased at an average price of $106.41 per share, with a total value of $28,092.24. Following the acquisition, the director owned 38,411 shares of the company’s stock, valued at approximately $4,087,314.51. This trade represents a 0.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 5.45% of the company’s stock.

UMB Financial Price Performance

UMBF opened at $111.00 on Wednesday. The stock has a market cap of $8.43 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.11 and a beta of 0.78. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $128.80. The company has a quick ratio of 0.77, a current ratio of 0.75 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $112.08 and a 200 day simple moving average of $110.87.

UMB Financial (NASDAQ:UMBF) last announced its earnings results on Tuesday, October 28th. The bank reported $2.70 EPS for the quarter, topping the consensus estimate of $2.48 by $0.22. The firm had revenue of $678.34 million for the quarter, compared to the consensus estimate of $661.60 million. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The business’s quarterly revenue was up 67.0% on a year-over-year basis. During the same period last year, the company posted $2.25 EPS. On average, research analysts expect that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.5%. This is an increase from UMB Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, December 10th. UMB Financial’s payout ratio is currently 19.48%.

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.