Crossmark Global Holdings Inc. bought a new position in shares of UMB Financial Co. (NASDAQ:UMBF – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,954 shares of the bank’s stock, valued at approximately $209,000.
Several other institutional investors have also recently added to or reduced their stakes in UMBF. Franklin Resources Inc. lifted its position in UMB Financial by 6.2% in the second quarter. Franklin Resources Inc. now owns 2,334 shares of the bank’s stock valued at $201,000 after acquiring an additional 137 shares during the last quarter. Country Club Bank GFN lifted its holdings in shares of UMB Financial by 2.6% in the 2nd quarter. Country Club Bank GFN now owns 5,856 shares of the bank’s stock valued at $363,000 after purchasing an additional 150 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of UMB Financial by 1.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 11,507 shares of the bank’s stock valued at $970,000 after purchasing an additional 205 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of UMB Financial by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,411 shares of the bank’s stock valued at $1,671,000 after purchasing an additional 243 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in UMB Financial by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 50,971 shares of the bank’s stock valued at $4,257,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Insiders Place Their Bets
In related news, CEO J Mariner Kemper sold 400 shares of UMB Financial stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $65.21, for a total transaction of $26,084.00. Following the completion of the sale, the chief executive officer now owns 1,859,888 shares in the company, valued at approximately $121,283,296.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other UMB Financial news, CEO J Mariner Kemper sold 400 shares of UMB Financial stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $65.21, for a total value of $26,084.00. Following the completion of the sale, the chief executive officer now directly owns 1,859,888 shares of the company’s stock, valued at approximately $121,283,296.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nikki Farentino Newton sold 1,300 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $68.87, for a total value of $89,531.00. Following the transaction, the insider now directly owns 8,285 shares in the company, valued at approximately $570,587.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,318 shares of company stock valued at $665,233. Corporate insiders own 9.77% of the company’s stock.
UMB Financial Stock Performance
UMB Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a dividend of $0.39 per share. This is an increase from UMB Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 8th. This represents a $1.56 annualized dividend and a yield of 2.51%. UMB Financial’s dividend payout ratio (DPR) is presently 19.51%.
Analysts Set New Price Targets
UMBF has been the subject of a number of analyst reports. Raymond James upgraded shares of UMB Financial from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $82.00 to $80.00 in a research report on Thursday. Janney Montgomery Scott raised shares of UMB Financial from a “neutral” rating to a “buy” rating and set a $73.00 price target for the company in a report on Thursday. Keefe, Bruyette & Woods increased their target price on UMB Financial from $72.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. StockNews.com raised UMB Financial from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company cut their price objective on UMB Financial from $75.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.40.
Check Out Our Latest Stock Analysis on UMB Financial
UMB Financial Company Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. 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.
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