Allspring Global Investments Holdings LLC Lowers Holdings in UMB Financial Corporation $UMBF

Allspring Global Investments Holdings LLC decreased its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 17.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,357,177 shares of the bank’s stock after selling 292,899 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UMB Financial were worth $155,600,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. MBM Wealth Consultants LLC bought a new stake in shares of UMB Financial in the first quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new position in UMB Financial during the 4th quarter worth about $27,000. Hilton Head Capital Partners LLC purchased a new position in UMB Financial during the 4th quarter valued at about $34,000. Torren Management LLC purchased a new position in UMB Financial during the 4th quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of UMB Financial by 193.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 405 shares of the bank’s stock valued at $43,000 after purchasing an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Price Performance

NASDAQ UMBF opened at $148.02 on Friday. The firm’s fifty day simple moving average is $135.41 and its two-hundred day simple moving average is $125.92. The firm has a market capitalization of $11.25 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.80 and a beta of 0.77. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. UMB Financial Corporation has a 12-month low of $103.38 and a 12-month high of $148.31.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, beating the consensus estimate of $2.82 by $0.59. The firm had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The business’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 EPS. Analysts forecast that UMB Financial Corporation will post 12.85 EPS for the current fiscal year.

UMB Financial Announces Dividend

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

Insider Transactions at UMB Financial

In other UMB Financial news, President James D. Rine sold 8,246 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the sale, the president owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. This trade represents a 11.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Charles Gallagher sold 381 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value of $50,627.28. Following the sale, the director owned 12,223 shares in the company, valued at $1,624,192.24. The trade was a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup upped their price target on shares of UMB Financial from $138.00 to $144.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Hovde Group boosted their price objective on shares of UMB Financial from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Zacks Research lowered UMB Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Wells Fargo & Company upped their target price on UMB Financial from $130.00 to $139.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada increased their target price on UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $152.17.

UMB Financial 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.