UMB Financial Co. (NASDAQ:UMBF) Shares Sold by Bank of New York Mellon Corp

Posted by on Mar 10th, 2023

Bank of New York Mellon Corp lessened its holdings in shares of UMB Financial Co. (NASDAQ:UMBF – Get Rating) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 680,612 shares of the bank’s stock after selling 4,354 shares during the period. Bank of New York Mellon Corp owned 1.41% of UMB Financial worth $57,369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. California Public Employees Retirement System grew its stake in UMB Financial by 6.0% during the 3rd quarter. California Public Employees Retirement System now owns 104,113 shares of the bank’s stock worth $8,776,000 after buying an additional 5,897 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in UMB Financial by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,084,657 shares of the bank’s stock worth $91,428,000 after buying an additional 10,651 shares during the last quarter. AlphaCrest Capital Management LLC grew its stake in UMB Financial by 608.6% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 17,482 shares of the bank’s stock worth $1,474,000 after buying an additional 15,015 shares during the last quarter. Prudential PLC purchased a new position in UMB Financial during the 3rd quarter worth approximately $875,000. Finally, Los Angeles Capital Management LLC purchased a new position in UMB Financial during the 2nd quarter worth approximately $438,000. Institutional investors and hedge funds own 87.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Raymond James raised their price target on UMB Financial from $101.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Piper Sandler lifted their target price on UMB Financial from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, January 26th. Wells Fargo & Company lifted their target price on UMB Financial from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, January 26th. Finally, Janney Montgomery Scott downgraded UMB Financial from a “buy” rating to a “neutral” rating and set a $94.00 target price on the stock. in a research note on Thursday, January 26th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.50.

Insider Activity at UMB Financial

In related news, insider Shannon Andresen Johnson sold 834 shares of UMB Financial stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $80.85, for a total value of $67,428.90. Following the sale, the insider now directly owns 12,562 shares in the company, valued at $1,015,637.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Shannon Andresen Johnson sold 834 shares of UMB Financial stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $80.85, for a total transaction of $67,428.90. Following the completion of the transaction, the insider now directly owns 12,562 shares of the company’s stock, valued at $1,015,637.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO J Mariner Kemper sold 4,956 shares of UMB Financial stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $89.12, for a total value of $441,678.72. Following the transaction, the chief executive officer now directly owns 30,800 shares of the company’s stock, valued at $2,744,896. The disclosure for this sale can be found here. Insiders have sold a total of 10,337 shares of company stock worth $914,600 over the last three months. 9.77% of the stock is currently owned by corporate insiders.

UMB Financial Stock Down 7.0 %

UMB Financial stock opened at $79.76 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.67 and a quick ratio of 0.67. UMB Financial Co. has a 1-year low of $76.97 and a 1-year high of $102.95. The company has a market cap of $3.87 billion, a PE ratio of 8.99 and a beta of 0.82. The stock’s 50 day moving average price is $87.86 and its 200 day moving average price is $86.47.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.91%. UMB Financial’s dividend payout ratio (DPR) is presently 17.14%.

About UMB Financial

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UMB Financial Corp. engages in the provision of bank and asset services. It operates through the following segments: Commercial Banking, Institutional Banking, and Personal Banking. The Commercial Banking segment serves the commercial lending and leasing, capital markets, and treasury management needs of the company’s mid-market businesses and governmental entities by offering various products and services.

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Institutional Ownership by Quarter for UMB Financial (NASDAQ:UMBF)

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