Meritage Portfolio Management decreased its holdings in UMB Financial Corp (NASDAQ:UMBF) by 13.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,803 shares of the bank’s stock after selling 4,175 shares during the period. Meritage Portfolio Management owned about 0.05% of UMB Financial worth $1,764,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in shares of UMB Financial by 1,700.0% in the 1st quarter. Quadrant Capital Group LLC now owns 468 shares of the bank’s stock worth $29,000 after purchasing an additional 442 shares in the last quarter. Manchester Capital Management LLC bought a new stake in shares of UMB Financial in the first quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of UMB Financial by 13.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,921 shares of the bank’s stock worth $192,000 after acquiring an additional 355 shares during the period. Magnus Financial Group LLC bought a new stake in shares of UMB Financial in the first quarter worth $203,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of UMB Financial in the first quarter worth $256,000. 87.44% of the stock is owned by institutional investors and hedge funds.
In other UMB Financial news, Chairman J Mariner Kemper sold 3,145 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $65.64, for a total transaction of $206,437.80. Following the completion of the sale, the chairman now owns 188,862 shares of the company’s stock, valued at $12,396,901.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.45% of the company’s stock.
UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 30th. The bank reported $1.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.17. UMB Financial had a return on equity of 8.68% and a net margin of 16.17%. The company had revenue of $271.80 million during the quarter, compared to analyst estimates of $271.47 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. UMB Financial’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts forecast that UMB Financial Corp will post 4.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, September 9th. UMB Financial’s payout ratio is currently 29.78%.
Several analysts recently commented on the company. BidaskClub raised UMB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Zacks Investment Research lowered UMB Financial from a “buy” rating to a “hold” rating and set a $69.00 price objective for the company. in a report on Tuesday, July 2nd. Finally, Stephens set a $74.00 price objective on UMB Financial and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $71.00.
UMB Financial Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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