Principal Financial Group Inc. Lowers Position in UMB Financial Corporation $UMBF

Principal Financial Group Inc. cut its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 712,859 shares of the bank’s stock after selling 14,160 shares during the period. Principal Financial Group Inc. owned about 0.94% of UMB Financial worth $80,403,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of UMBF. MBM Wealth Consultants LLC purchased a new stake in shares of UMB Financial in the first quarter valued at about $26,000. Kemnay Advisory Services Inc. purchased a new position in UMB Financial during the fourth quarter worth about $27,000. Hilton Head Capital Partners LLC purchased a new position in UMB Financial during the fourth quarter worth about $34,000. Torren Management LLC bought a new stake in UMB Financial in the 4th quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC grew its position in UMB Financial by 193.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock worth $43,000 after purchasing an additional 267 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, President James D. Rine sold 8,246 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total transaction of $1,093,337.14. Following the completion of the transaction, the president directly owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This represents a 11.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gallagher sold 381 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $132.88, for a total value of $50,627.28. Following the completion of the sale, the director owned 12,223 shares in the company, valued at approximately $1,624,192.24. The trade was a 3.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings raised shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Truist Financial upped their target price on UMB Financial from $140.00 to $161.00 and gave the company a “buy” rating in a report on Friday, July 10th. Morgan Stanley increased their price target on UMB Financial from $143.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Royal Bank Of Canada boosted their price objective on UMB Financial from $138.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, Citigroup boosted their price objective on UMB Financial from $138.00 to $144.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.17.

UMB Financial Stock Performance

Shares of UMBF stock opened at $148.02 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.80 and a beta of 0.77. UMB Financial Corporation has a 52 week low of $103.38 and a 52 week high of $148.31. The firm’s 50-day simple moving average is $135.41 and its two-hundred day simple moving average is $125.92.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The firm had revenue of $739.16 million during the quarter, compared to the consensus estimate of $701.79 million. During the same period in the prior year, the firm earned $2.58 EPS. The company’s revenue was up 31.1% compared to the same quarter last year. As a group, equities analysts forecast that UMB Financial Corporation will post 12.85 earnings per share for the current year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were paid a $0.43 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $1.72 annualized dividend and a yield of 1.2%. UMB Financial’s dividend payout ratio is presently 15.26%.

UMB Financial Company Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.