American International Group Inc. Has $6.90 Million Stake in UMB Financial Co. (NASDAQ:UMBF)

American International Group Inc. reduced its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,300 shares of the bank’s stock after selling 1,370 shares during the quarter. American International Group Inc. owned 0.16% of UMB Financial worth $6,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in UMB Financial during the fourth quarter worth $28,000. Mackenzie Financial Corp acquired a new stake in shares of UMB Financial in the 4th quarter valued at approximately $228,000. Quadrant Capital Group LLC boosted its stake in shares of UMB Financial by 42.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,743 shares of the bank’s stock valued at $229,000 after purchasing an additional 819 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in UMB Financial during the 4th quarter worth approximately $236,000. Finally, Janney Montgomery Scott LLC bought a new stake in UMB Financial during the 1st quarter worth approximately $252,000. 87.78% of the stock is owned by institutional investors.

Insider Activity at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 8,100 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $84.00, for a total transaction of $680,400.00. Following the sale, the chief executive officer now directly owns 1,673,804 shares of the company’s stock, valued at $140,599,536. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 22,952 shares of company stock worth $1,909,242. 8.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

UMB Financial Stock Performance

UMBF opened at $97.72 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average price is $84.74 and its two-hundred day moving average price is $82.75. UMB Financial Co. has a 1-year low of $57.91 and a 1-year high of $99.42. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 12.98 and a beta of 0.80.

UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Monday, April 29th. The bank reported $2.47 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.62. The company had revenue of $405.19 million during the quarter, compared to analyst estimates of $369.80 million. UMB Financial had a net margin of 14.59% and a return on equity of 14.30%. On average, analysts expect that UMB Financial Co. will post 8.41 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 10th were given 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 yield of 1.60%. UMB Financial’s payout ratio is currently 20.72%.

About UMB Financial

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.