UMB Financial Corp (NASDAQ:UMBF) reported that its Chairman and CEO, Mariner Kemper (NYSE:KMPR), has sold a total of 8,100 shares of company stock. The transactions, dated July 3, 2024, were executed at a price of $84.00 per share, resulting in a total sale value of $680,400.
The sale was conducted under a pre-arranged 10b5-1 trading plan, which allows corporate insiders to set up a trading schedule in advance to avoid accusations of insider trading. This mechanism is designed to enable individuals with non-public information to trade their own stock in a pre-determined manner that is compliant with the Securities Exchange Act of 1934.
Following the sale, the CEO's holdings in UMB Financial Corp are indirectly held through various entities, including trusts and custodial accounts for family members. Notably, shares are held by the Trust - RC Kemper Irrevocable Trust, which, after the sale, owns a total of 1,673,804 shares.
UMB Financial Corp has not made any additional comments regarding the transactions. The stock sale details were made public through the company's latest SEC filings, which provide transparency into the trading activities of the company's executives and other insiders.
Investors and the market often keep a close eye on insider transactions as they can provide insights into an insider’s view of the company's financial health and future prospects. However, it's important to note that trading by insiders can be motivated by a variety of factors and does not necessarily signal a change in company fundamentals.
Shares of UMB Financial Corp, a company with a rich history dating back to its former names as United Missouri Bancshares Inc and Missouri Bancshares Inc, trade on the NASDAQ and are categorized under the National Commercial Banks industry (SIC code 6021). The company is incorporated in Missouri and continues to maintain its headquarters in Kansas City.
In other recent news, ACA Group has announced its intention to acquire the broker-dealer distribution business from UMB Fund Services, a subsidiary of UMB Financial Corporation. This move is expected to finalize in the fourth quarter of 2024. The acquisition will further strengthen ACA's distribution division, ACA Foreside, adding over $48 billion in client assets to its current $2 trillion portfolio. This is ACA's sixth acquisition in three years, indicating a robust growth strategy in the financial services industry.
In parallel developments, UMB Financial Corporation has reported strong Q1 2024 earnings, with GAAP earnings of $110.3 million and an operating EPS of $2.47. The company also announced a strategic acquisition of Heartland Financial USA (NASDAQ:HTLF), set to close in Q1 2025, which is expected to increase UMB's assets to nearly $65 billion and enhance its retail and private wealth sectors. These are recent developments that highlight the dynamic activities within both ACA Group and UMB Financial Corporation.
InvestingPro Insights
UMB Financial Corp (NASDAQ:UMBF) has demonstrated a strong track record of shareholder returns, as highlighted by the InvestingPro Tips. Notably, the company has raised its dividend for 31 consecutive years and has maintained dividend payments for an impressive 54 consecutive years. These consistent increases in dividends reflect the company's commitment to shareholder value and its confidence in its financial stability and growth prospects.
The financial health of UMB Financial Corp is also evident in the InvestingPro Data. The company's market capitalization stands at approximately $3.98 billion, with a P/E ratio of 10.75, indicating that the stock may be reasonably valued relative to earnings. Additionally, the company's revenue growth in the last twelve months as of Q1 2024 was 1.57%, with a more significant quarterly revenue growth of 11.48% in Q1 2024, showcasing its ability to increase its top-line figures.
Investors considering UMB Financial Corp as part of their portfolio should take note of these encouraging financial metrics. Furthermore, with analysts predicting profitability for the current year and the company having been profitable over the last twelve months, UMB Financial Corp appears to be on a solid financial footing.
For those seeking additional insights and metrics on UMB Financial Corp, InvestingPro offers a wealth of information. There are currently five additional InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/UMBF. Additionally, for a limited time, users can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, offering an even deeper analysis and understanding of the company's financial position and potential investment opportunities.
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