UMB Financial Corp (NASDAQ:UMBF) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 1,384,200 shares, a drop of 6.6% from the May 15th total of 1,482,200 shares. Based on an average daily volume of 232,300 shares, the days-to-cover ratio is presently 6.0 days. Currently, 3.1% of the shares of the company are sold short.
In related news, EVP James Cornelius sold 800 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $69.38, for a total value of $55,504.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman J Mariner Kemper sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.24, for a total value of $207,720.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,599 shares of company stock worth $961,167. 10.45% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its position in UMB Financial by 1,700.0% in the first quarter. Quadrant Capital Group LLC now owns 468 shares of the bank’s stock worth $29,000 after acquiring an additional 442 shares in the last quarter. Manchester Capital Management LLC purchased a new position in UMB Financial in the first quarter worth about $33,000. Toronto Dominion Bank purchased a new position in UMB Financial in the fourth quarter worth about $33,000. Magnus Financial Group LLC purchased a new position in UMB Financial in the first quarter worth about $203,000. Finally, Advisor Group Inc. grew its position in UMB Financial by 5.9% in the fourth quarter. Advisor Group Inc. now owns 3,432 shares of the bank’s stock worth $210,000 after acquiring an additional 192 shares in the last quarter. Institutional investors own 87.46% of the company’s stock.
Shares of UMB Financial stock traded up $0.29 during trading on Friday, reaching $64.46. 104,781 shares of the stock traded hands, compared to its average volume of 185,099. The firm has a market cap of $3.16 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.94. The firm’s fifty day moving average price is $63.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.69 and a quick ratio of 0.69. UMB Financial has a 52-week low of $57.00 and a 52-week high of $80.39.
UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.09. The firm had revenue of $271.30 million during the quarter, compared to analyst estimates of $262.18 million. UMB Financial had a return on equity of 8.90% and a net margin of 16.66%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 earnings per share. On average, sell-side analysts predict that UMB Financial will post 4.75 EPS for the current year.
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 $0.30 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.20 annualized dividend and a yield of 1.86%. UMB Financial’s dividend payout ratio is currently 29.78%.
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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