Farmers & Merchants Investments Inc. is reducing its position in UMB Financial Co. (NASDAQ:UMBF)

VaselineSeptember 7, 2024

0 5 minutes read

Farmers & Merchants Investments Inc. reduced its stake in UMB Financial Co shares. (NASDAQ:UMBF – Free Report) by 11.1% during the second quarter, Holdings Channel reports. The institutional investor owned 4,018 shares of the bank’s stock after selling 500 shares during the period. Holdings held by Farmers & Merchants Investments Inc. holdings in UMB Financial were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of UMB Financial by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock worth $409,321,000 after purchasing an additional 394,578 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in UMB Financial by 2.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock worth $163,066,000 after buying an additional 49,690 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in UMB Financial by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,544,008 shares of the bank’s stock valued at $129,005,000 after buying an additional 161,558 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in UMB Financial by 18.0% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 662,769 shares of the bank’s stock valued at $55,374,000 after purchasing an additional 101,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of UMB Financial by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 526,747 shares of the bank’s stock valued at $44,010,000 after purchasing an additional 15,732 shares during the last quarter. 87.78% of shares are currently owned by institutional investors and hedge funds.

UMB financial stock down 1.6%

Shares of NASDAQ UMBF opened at $99.83 on Friday. The company’s 50-day moving average price is $94.76 and its 200-day moving average price is $86.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73, and a current ratio of 0.73. The firm has a market cap of $4.87 billion, a P/E ratio of 13.26 and a beta of 0.78. UMB Financial Co. has a 1 year low of $57.91 and a 1 year high of $105.72.

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UMB Financial (NASDAQ:UMBF – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.15. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The business had revenue of $390.03 million during the quarter, compared to the consensus estimate of $384.96 million. In the same quarter last year, the company earned $1.93 per share. The company’s revenue for the quarter was up 7.2% year over year. As a group, sell-side analysts anticipate that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial announces dividend

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

Insider activity at UMB Financial

In other news, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the sale, the director now directly owns 3,211 shares in the company, valued at approximately $329,127.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP John Pauls sold 1,623 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $92.97, for a total transaction of $150,890.31. Following the transaction, the executive vice president now directly owns 7,332 shares of the company’s stock, valued at $681,656.04. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, Director Kris A. Robbins sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the transaction, the director now directly owns 3,211 shares of the company’s stock, valued at $329,127.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,846 shares of company stock worth $3,135,439. 8.85% of shares are owned by company insiders.

The Wall Street analyst weighs in

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

Read the latest stock analysis on UMB Financial

UMB financial profile

(Free report)

UMB Financial Corporation operates as a bank holding company that provides banking and asset servicing services in the United States and internationally. The Commercial Banking segment offers commercial loans and credit cards; commercial real estate financing; letters of credit; loan syndication and advisory services; various business solutions, including asset-backed loans, mezzanine debt and minority investments; and treasury management service such as custodial service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic funds transfer and automatic payment, controlled payments, blocking service and capture service of remote deposits.