Pacer Advisors Inc. lessened its stake in shares of UMB Financial Corp (NASDAQ:UMBF) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,309 shares of the bank’s stock after selling 1,257 shares during the period. Pacer Advisors Inc.’s holdings in UMB Financial were worth $1,053,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of UMBF. North Star Investment Management Corp. acquired a new position in shares of UMB Financial during the third quarter worth approximately $44,000. State of Alaska Department of Revenue acquired a new position in shares of UMB Financial during the third quarter worth approximately $496,000. Macquarie Group Ltd. acquired a new position in shares of UMB Financial during the second quarter worth approximately $263,000. Atria Investments LLC acquired a new position in shares of UMB Financial in the second quarter valued at $238,000. Finally, Royal Bank of Canada raised its stake in shares of UMB Financial by 36.2% in the second quarter. Royal Bank of Canada now owns 10,022 shares of the bank’s stock valued at $660,000 after purchasing an additional 2,666 shares in the last quarter. Institutional investors own 85.53% of the company’s stock.
In related news, CEO J Mariner Kemper sold 6,600 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $66.95, for a total transaction of $441,870.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kris A. Robbins sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $62.57, for a total value of $50,056.00. Following the sale, the director now owns 4,796 shares in the company, valued at approximately $300,085.72. The disclosure for this sale can be found here. Insiders sold a total of 13,172 shares of company stock worth $872,516 in the last quarter. Corporate insiders own 10.45% of the company’s stock.
Shares of UMBF stock traded down $0.09 during trading hours on Friday, hitting $67.16. 122,000 shares of the company’s stock were exchanged, compared to its average volume of 219,400. UMB Financial Corp has a 52 week low of $57.90 and a 52 week high of $71.97. The stock’s 50-day moving average is $64.97 and its 200-day moving average is $65.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91.
UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, October 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. UMB Financial had a return on equity of 8.55% and a net margin of 16.06%. The business had revenue of $271.90 million during the quarter, compared to analysts’ expectations of $276.93 million. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities research analysts forecast that UMB Financial Corp will post 4.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.30. UMB Financial’s payout ratio is 29.78%.
A number of research analysts recently commented on the company. Stephens restated a “buy” rating and issued a $75.00 target price on shares of UMB Financial in a research note on Monday, September 16th. ValuEngine lowered UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. BidaskClub upgraded UMB Financial from a “hold” rating to a “buy” rating in a research note on Thursday, October 24th. Finally, Zacks Investment Research cut UMB Financial from a “hold” rating to a “sell” rating and set a $71.00 target price on the stock. in a report on Sunday, November 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.33.
About UMB Financial
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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