UMB Bank N A MO Reduces Position in UMB Financial Corporation (NASDAQ:UMBF)
UMB Bank N A MO decreased its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 5,779,468 shares of the bank’s stock after selling 637 shares during the period. UMB Financial Corporation accounts for 15.1% of UMB Bank N A MO’s investment portfolio, making the stock its largest position. UMB Bank N A MO owned 0.12% of UMB Financial Corporation worth $432,651,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of UMB Financial Corporation by 1.5% in the second quarter. Rhumbline Advisers now owns 102,853 shares of the bank’s stock worth $7,700,000 after buying an additional 1,524 shares during the period. Teacher Retirement System of Texas increased its position in UMB Financial Corporation by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 3,383 shares of the bank’s stock worth $253,000 after buying an additional 53 shares in the last quarter. First Trust Advisors LP increased its position in UMB Financial Corporation by 9.1% in the second quarter. First Trust Advisors LP now owns 107,723 shares of the bank’s stock worth $8,064,000 after buying an additional 8,984 shares in the last quarter. Arizona State Retirement System increased its position in UMB Financial Corporation by 1.6% in the second quarter. Arizona State Retirement System now owns 18,500 shares of the bank’s stock worth $1,385,000 after buying an additional 300 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in UMB Financial Corporation by 10.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 240,242 shares of the bank’s stock worth $17,985,000 after buying an additional 23,225 shares in the last quarter. 81.99% of the stock is owned by institutional investors.
Shares of UMB Financial Corporation (NASDAQ:UMBF) opened at 67.59 on Friday. UMB Financial Corporation has a 52 week low of $57.07 and a 52 week high of $81.55. The firm has a 50-day moving average of $72.49 and a 200 day moving average of $74.31. The company has a market cap of $3.38 billion, a P/E ratio of 19.53 and a beta of 0.86.
UMB Financial Corporation (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by $0.02. The company had revenue of $247.70 million during the quarter, compared to the consensus estimate of $261.84 million. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. Equities analysts anticipate that UMB Financial Corporation will post $3.65 earnings per share for the current fiscal year.
UMB Financial Corporation declared that its Board of Directors has authorized a share buyback program on Tuesday, April 25th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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Several research analysts recently commented on the stock. Stephens set a $71.00 target price on shares of UMB Financial Corporation and gave the stock a “hold” rating in a report on Wednesday, July 26th. Zacks Investment Research downgraded shares of UMB Financial Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 29th. UBS AG upgraded shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday. BidaskClub upgraded shares of UMB Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, FBR & Co reiterated a “hold” rating and set a $82.00 target price (up from $80.00) on shares of UMB Financial Corporation in a research report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $78.20.
In other UMB Financial Corporation news, Director Alexander C. Kemper sold 2,500 shares of UMB Financial Corporation stock in a transaction on Friday, June 9th. The shares were sold at an average price of $74.65, for a total transaction of $186,625.00. Following the transaction, the director now directly owns 11,309 shares of the company’s stock, valued at approximately $844,216.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman J Mariner Kemper sold 21,600 shares of UMB Financial Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $75.17, for a total transaction of $1,623,672.00. Following the transaction, the chairman now directly owns 186,373 shares in the company, valued at $14,009,658.41. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 2,300 shares of company stock valued at $162,044 and have sold 27,225 shares valued at $2,043,235. Insiders own 10.09% of the company’s stock.
About UMB Financial Corporation
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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