UMB Financial Corp (NASDAQ:UMBF) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,140,000 shares, a drop of 13.6% from the September 30th total of 1,320,000 shares. Based on an average daily trading volume, of 184,500 shares, the short-interest ratio is currently 6.2 days. Approximately 2.6% of the shares of the company are sold short.
In other UMB Financial news, Director Kris A. Robbins sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $62.57, for a total transaction of $50,056.00. Following the sale, the director now directly owns 4,796 shares in the company, valued at approximately $300,085.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer M. Payne sold 3,960 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $65.27, for a total transaction of $258,469.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,172 shares of company stock worth $872,516. 10.45% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of UMB Financial by 0.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,702 shares of the bank’s stock worth $2,087,000 after buying an additional 189 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of UMB Financial by 2.4% during the 2nd quarter. Sterling Capital Management LLC now owns 9,200 shares of the bank’s stock worth $606,000 after buying an additional 212 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of UMB Financial by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,100 shares of the bank’s stock worth $1,191,000 after buying an additional 252 shares during the last quarter. Profund Advisors LLC raised its stake in shares of UMB Financial by 4.9% during the 2nd quarter. Profund Advisors LLC now owns 5,873 shares of the bank’s stock worth $387,000 after buying an additional 273 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of UMB Financial by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 32,051 shares of the bank’s stock worth $2,110,000 after buying an additional 350 shares during the last quarter. 85.75% of the stock is owned by institutional investors and hedge funds.
UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, October 29th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.10. The business had revenue of $271.90 million during the quarter, compared to the consensus estimate of $276.93 million. UMB Financial had a return on equity of 8.55% and a net margin of 16.06%. During the same quarter in the previous year, the company posted $1.16 EPS. On average, sell-side analysts forecast that UMB Financial will post 4.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, December 9th. This is an increase from UMB Financial’s previous quarterly dividend of $0.30. UMB Financial’s payout ratio is 29.78%.
Several brokerages have commented on UMBF. Zacks Investment Research lowered shares of UMB Financial from a “hold” rating to a “sell” rating and set a $71.00 target price on the stock. in a research report on Sunday, November 3rd. ValuEngine lowered shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. BidaskClub upgraded shares of UMB Financial from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, Stephens restated a “buy” rating and set a $75.00 target price on shares of UMB Financial in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. UMB Financial has an average rating of “Hold” and an average target price of $72.33.
About UMB Financial
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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