Corebridge Financial Inc. Sells 3,871 Shares of UMB Financial Co. (NASDAQ:UMBF)

Corebridge Financial Inc. decreased its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 5.1% in the 4th quarter, HoldingsChannel reports. The fund owned 72,241 shares of the bank’s stock after selling 3,871 shares during the period. Corebridge Financial Inc.’s holdings in UMB Financial were worth $8,153,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. USA Financial Formulas lifted its stake in shares of UMB Financial by 124.7% in the fourth quarter. USA Financial Formulas now owns 483 shares of the bank’s stock valued at $55,000 after buying an additional 268 shares in the last quarter. Point72 Asset Management L.P. bought a new position in UMB Financial in the 3rd quarter valued at about $83,000. Venturi Wealth Management LLC acquired a new position in UMB Financial during the 4th quarter valued at about $96,000. Steward Partners Investment Advisory LLC bought a new stake in UMB Financial during the 4th quarter worth approximately $103,000. Finally, R Squared Ltd purchased a new stake in shares of UMB Financial in the fourth quarter worth approximately $117,000. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Stock Performance

Shares of UMBF stock opened at $101.85 on Friday. UMB Financial Co. has a 52 week low of $76.00 and a 52 week high of $129.94. The firm’s 50-day simple moving average is $110.22 and its two-hundred day simple moving average is $112.37. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 11.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 EPS for the quarter, beating the consensus estimate of $2.25 by $0.24. UMB Financial had a return on equity of 13.73% and a net margin of 15.76%. During the same period in the prior year, the business earned $2.29 EPS. As a group, equities analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.57%. UMB Financial’s payout ratio is 17.80%.

Analysts Set New Price Targets

UMBF has been the subject of several recent research reports. Barclays upped their price target on UMB Financial from $123.00 to $139.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Morgan Stanley reduced their target price on shares of UMB Financial from $156.00 to $146.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $128.00 price target on shares of UMB Financial in a research report on Thursday, January 30th. StockNews.com downgraded shares of UMB Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Citigroup reissued a “neutral” rating and set a $127.00 target price (down previously from $130.00) on shares of UMB Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.71.

Insider Buying and Selling

In other news, CEO J Mariner Kemper sold 3,500 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $108.61, for a total value of $380,135.00. Following the completion of the transaction, the chief executive officer now directly owns 334,347 shares of the company’s stock, valued at $36,313,427.67. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gallagher sold 527 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $114.13, for a total value of $60,146.51. Following the sale, the director now owns 13,010 shares in the company, valued at approximately $1,484,831.30. The trade was a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.45% of the stock is currently owned by insiders.

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.