Mutual of America Capital Management LLC Sells 3,302 Shares of UMB Financial Co. (NASDAQ:UMBF)

Mutual of America Capital Management LLC lessened its position in UMB Financial Co. (NASDAQ:UMBF) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,795 shares of the bank’s stock after selling 3,302 shares during the period. Mutual of America Capital Management LLC owned 0.21% of UMB Financial worth $10,805,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of UMBF. Vanguard Group Inc. increased its holdings in UMB Financial by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank’s stock valued at $409,321,000 after purchasing an additional 394,578 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of UMB Financial by 2.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,954,762 shares of the bank’s stock valued at $163,066,000 after acquiring an additional 49,690 shares in the last quarter. American Century Companies Inc. lifted its stake in UMB Financial by 6.8% in the second quarter. American Century Companies Inc. now owns 1,752,524 shares of the bank’s stock worth $146,196,000 after acquiring an additional 111,090 shares during the period. Dimensional Fund Advisors LP boosted its holdings in UMB Financial by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank’s stock valued at $140,968,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in UMB Financial by 403.7% in the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after acquiring an additional 694,751 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Stock Performance

Shares of UMBF opened at $121.49 on Monday. UMB Financial Co. has a one year low of $69.96 and a one year high of $128.73. The business has a fifty day moving average of $108.82 and a 200 day moving average of $95.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $5.93 billion, a P/E ratio of 15.19 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, beating the consensus estimate of $2.20 by $0.05. The firm had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. During the same quarter in the prior year, the firm earned $2.02 EPS. As a group, sell-side analysts anticipate that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. UMB Financial’s dividend payout ratio is 19.50%.

Wall Street Analyst Weigh In

UMBF has been the topic of a number of research reports. Piper Sandler lifted their target price 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 lifted their price objective on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their target price on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Citigroup initiated coverage on UMB Financial in a research note on Thursday, October 10th. They issued a “buy” rating and a $127.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Insider Activity at UMB Financial

In other news, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the transaction, the chief executive officer now owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Pauls sold 849 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $110.42, for a total transaction of $93,746.58. Following the completion of the sale, the executive vice president now directly owns 6,483 shares in the company, valued at approximately $715,852.86. This represents a 11.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,449 shares of company stock worth $5,724,799. Corporate insiders own 8.85% of the company’s stock.

UMB Financial Profile

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.