KANSAS CITY, Mo.—Robert Brian Beaird, the Chief Human Resource Officer of UMB Financial Corp (NASDAQ:UMBF), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Beaird sold 854 shares of UMB Financial's common stock on November 21 at an average price of $123.375 per share, totaling approximately $105,362.
Following this transaction, Beaird retains direct ownership of 5,828 shares and indirect ownership of 328 shares through an Employee Stock Ownership Plan (ESOP). The sale reflects a strategic adjustment in Beaird's holdings, while he continues to maintain a significant stake in the company.
In other recent news, UMB Financial has reported strong Q3 2024 earnings, with GAAP earnings of $109.6 million or $2.23 per share, and operating earnings of $2.25 per share. The financial results were primarily driven by a record loan production of $1.4 billion and nearly 10% annualized loan growth. In addition, UMB Financial announced the acquisition of Heartland Financial (NASDAQ:HTLF), expected to be finalized in early 2025.
Morgan Stanley (NYSE:MS) initiated coverage on UMB Financial with an Overweight rating and a price target of $156.00, citing strong trust and loan growth. The firm's analysis suggests that UMB Financial is anticipated to outperform its peers, with a positive outlook for robust growth and profitability in the coming months.
Meanwhile, Citi maintained its Buy rating on UMB Financial and raised its price target from $127.00 to $130.00, reflecting an optimistic view of the bank's future financial performance. The bank's credit quality remains strong, and there are indications that its overall operating leverage could see improvement.
These recent developments highlight UMB Financial's strong market positioning and growth strategy, particularly as it prepares to complete the acquisition of Heartland Financial, which is expected to significantly enhance UMB's asset base.
InvestingPro Insights
UMB Financial Corp (NASDAQ:UMBF) has been demonstrating strong financial performance, as evidenced by recent InvestingPro data. The company's stock has shown impressive returns, with a 72.51% price total return over the past year and a 41.63% return in the last six months. This robust performance aligns with the timing of Robert Brian Beaird's recent stock sale, potentially indicating a favorable market for executives to realize gains.
InvestingPro Tips highlight that UMB Financial has raised its dividend for 32 consecutive years, showcasing a commitment to shareholder returns that complements the stock's appreciation. This consistent dividend growth, coupled with a current dividend yield of 1.33%, may appeal to income-focused investors despite the recent insider sale.
The company's financial health appears solid, with a P/E ratio of 15.34, which is relatively modest compared to its strong revenue growth of 7.93% over the last twelve months. Additionally, UMB Financial's operating income margin stands at a healthy 37.47%, indicating efficient operations.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for UMB Financial, providing a deeper understanding of the company's financial position and market performance.
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