Principal Financial Group Inc. Has $14.36 Million Stake in UMB Financial Co. (NASDAQ:UMBF)

Principal Financial Group Inc. trimmed its holdings in UMB Financial Co. (NASDAQ:UMBF) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,097 shares of the bank’s stock after selling 15,491 shares during the period. Principal Financial Group Inc.’s holdings in UMB Financial were worth $14,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. bought a new position in shares of UMB Financial during the fourth quarter worth about $28,000. 1620 Investment Advisors Inc. bought a new position in shares of UMB Financial during the second quarter worth about $128,000. CWM LLC grew its holdings in shares of UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after buying an additional 129 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of UMB Financial by 42.6% during the fourth quarter. Quadrant Capital Group LLC now owns 2,743 shares of the bank’s stock worth $229,000 after buying an additional 819 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of UMB Financial during the first quarter worth about $252,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on UMBF shares. Wells Fargo & Company increased their price objective on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler raised their price target on UMB Financial from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Barclays raised their price target on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods upgraded UMB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $93.00 to $98.00 in a research note on Friday, May 31st. Two 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.33.

UMB Financial Stock Performance

UMBF opened at $101.41 on Friday. UMB Financial Co. has a 12-month low of $57.91 and a 12-month high of $105.72. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 13.47 and a beta of 0.78. The business has a 50 day moving average of $94.37 and a 200-day moving average of $86.24. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The company had revenue of $390.03 million during the quarter, compared to analysts’ expectations of $384.96 million. During the same period last year, the firm posted $1.93 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that UMB Financial Co. will post 8.98 earnings per share for the current year.

UMB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be given a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.54%. UMB Financial’s payout ratio is 20.72%.

Insider Activity

In related news, CEO J Mariner Kemper sold 10,115 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $93.00, for a total transaction of $940,695.00. Following the completion of the sale, the chief executive officer now directly owns 257,796 shares of the company’s stock, valued at approximately $23,975,028. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO J Mariner Kemper sold 10,115 shares of UMB Financial stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $93.00, for a total transaction of $940,695.00. Following the completion of the sale, the chief executive officer now directly owns 257,796 shares of the company’s stock, valued at approximately $23,975,028. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Tamara Peterman purchased 396 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $99.56 per share, with a total value of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares in the company, valued at approximately $737,440.92. The disclosure for this purchase can be found here. Insiders sold a total of 29,846 shares of company stock valued at $2,622,939 over the last three months. Insiders own 8.85% of the company’s stock.

UMB Financial Company 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.