WealthPLAN Partners LLC Lowers Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

WealthPLAN Partners LLC lowered its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 42.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,483 shares of the bank’s stock after selling 2,614 shares during the period. WealthPLAN Partners LLC’s holdings in UMB Financial were worth $291,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of UMBF. Teacher Retirement System of Texas grew its holdings in shares of UMB Financial by 38.4% during the 4th quarter. Teacher Retirement System of Texas now owns 11,722 shares of the bank’s stock valued at $979,000 after purchasing an additional 3,255 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of UMB Financial during the fourth quarter valued at about $283,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of UMB Financial in the fourth quarter worth about $283,000. Norges Bank bought a new stake in shares of UMB Financial in the 4th quarter valued at about $39,376,000. Finally, PNC Financial Services Group Inc. boosted its holdings in UMB Financial by 20.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,366 shares of the bank’s stock valued at $532,000 after acquiring an additional 1,080 shares during the period. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Stock Down 0.3 %

Shares of UMB Financial stock opened at $104.92 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.12. UMB Financial Co. has a 12-month low of $57.91 and a 12-month high of $107.64. The company has a market cap of $5.11 billion, a P/E ratio of 13.93 and a beta of 0.78. The company’s fifty day simple moving average is $97.96 and its two-hundred day simple moving average is $87.66.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.15. UMB Financial had a net margin of 14.55% and a return on equity of 14.23%. The company had revenue of $390.03 million for the quarter, compared to analysts’ expectations of $384.96 million. During the same quarter in the previous year, the company earned $1.93 earnings per share. UMB Financial’s quarterly revenue was up 7.2% on a year-over-year basis. Research analysts anticipate that UMB Financial Co. will post 8.98 EPS for the current year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, September 10th. UMB Financial’s dividend payout ratio is currently 20.72%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UMBF. Wells Fargo & Company boosted their price objective on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler increased their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods raised shares of UMB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $93.00 to $98.00 in a report on Friday, May 31st. Finally, Barclays upped their price objective on shares of UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.33.

Insider Activity

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares in the company, valued at $329,127.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kris A. Robbins sold 5,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the sale, the director now directly owns 3,211 shares of the company’s stock, valued at approximately $329,127.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Mariner Kemper sold 10,115 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $93.00, for a total transaction of $940,695.00. Following the completion of the transaction, the chief executive officer now owns 257,796 shares of the company’s stock, valued at $23,975,028. The disclosure for this sale can be found here. Insiders sold a total of 34,846 shares of company stock worth $3,135,439 in the last quarter. 8.85% of the stock is owned by company insiders.

About UMB Financial

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.