American International Group Inc. Decreases Position in UMB Financial Co. (NASDAQ:UMBF)

American International Group Inc. trimmed its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 1.7% during the first quarter, Holdings Channel reports. The firm owned 79,300 shares of the bank’s stock after selling 1,370 shares during the quarter. American International Group Inc.’s holdings in UMB Financial were worth $6,898,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. purchased a new stake in UMB Financial during the fourth quarter worth $28,000. Mackenzie Financial Corp acquired a new position in shares of UMB Financial in the fourth quarter worth $228,000. Quadrant Capital Group LLC raised its holdings in shares of UMB Financial by 42.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,743 shares of the bank’s stock worth $229,000 after acquiring an additional 819 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of UMB Financial in the fourth quarter worth $236,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of UMB Financial in the first quarter worth $252,000. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $81.39, for a total transaction of $162,780.00. Following the transaction, the chief executive officer now directly owns 1,698,104 shares in the company, valued at $138,208,684.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 22,952 shares of company stock worth $1,909,242. Corporate insiders own 8.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on UMBF shares. Barclays boosted their price target on UMB Financial from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Wells Fargo & Company upped their price target on UMB Financial from $88.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods upgraded UMB Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $93.00 to $98.00 in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, UMB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

UMB Financial Stock Performance

UMBF opened at $97.72 on Friday. The firm has a market cap of $4.76 billion, a PE ratio of 12.98 and a beta of 0.80. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $84.74 and a 200-day simple moving average of $82.75. UMB Financial Co. has a fifty-two week low of $57.91 and a fifty-two week high of $99.42.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Monday, April 29th. The bank reported $2.47 EPS for the quarter, topping the consensus estimate of $1.85 by $0.62. The business had revenue of $405.19 million during the quarter, compared to analysts’ expectations of $369.80 million. UMB Financial had a return on equity of 14.30% and a net margin of 14.59%. As a group, equities analysts predict that UMB Financial Co. will post 8.41 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 10th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.56 annualized dividend and a dividend yield of 1.60%. UMB Financial’s dividend payout ratio is 20.72%.

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.