UMB Financial (NASDAQ:UMBF) Corporation's (NASDAQ:UMBF) Chairman and CEO, Kemper (NYSE:KMPR) J. Mariner, has recently sold a number of shares in the company, according to a new SEC filing. The transactions, which took place on May 1, 2024, saw Mariner sell shares at prices ranging from $79.25 to $79.90.
The total value of the shares sold by Mariner amounted to over $430,170. These sales were executed under a 10b5-1 trading plan, which was established on December 13, 2023. A 10b5-1 trading plan allows company insiders to set up a predetermined schedule for buying and selling shares to avoid accusations of insider trading.
This move by Mariner has adjusted his holdings in UMB Financial Corp , yet he remains a significant shareholder with a substantial number of shares still held indirectly through various trusts and entities. For instance, shares are held by the RC Kemper Irrevocable Trust, Pioneer Service Corporation, and Kemper Realty, among others.
Investors often monitor the trading activities of insiders like Mariner for insights into their perspective on the company's current valuation and future prospects. While the reasons behind Mariner's decision to sell shares are not detailed in the filing, such transactions are not uncommon and can be motivated by a variety of personal financial planning reasons.
UMB Financial Corp, headquartered in Kansas City, Missouri, is a financial services provider that operates under the National Commercial Banks industry. As with any insider transactions, investors are encouraged to consider the broader market and company-specific context when evaluating the potential implications of the CEO's stock sales.
The filing also mentioned an Employee Stock Ownership Plan (ESOP) that reflects allocations, dispositions, and dividend reinvestment since Mariner's last ownership report. It's worth noting that the sales reported are in line with SEC regulations and are publicly disclosed for transparency.
The shares of UMB Financial Corp continue to be traded on the NASDAQ, allowing public investors to participate in the company's financial journey alongside corporate insiders.
InvestingPro Insights
Following the recent news of UMB Financial Corporation's (NASDAQ:UMBF) Chairman and CEO, Kemper J. Mariner, selling a portion of his shares, investors may be seeking additional context to better understand the company's financial health and future prospects. Here are some key metrics and insights from InvestingPro that could provide added value to the discussion:
UMB Financial Corporation boasts a strong track record of rewarding its shareholders, having raised its dividend for an impressive 31 consecutive years. This commitment to consistent dividend growth is further underscored by the company's ability to maintain dividend payments for 54 consecutive years, highlighting its financial stability and reliability as an income-generating investment.
Analyzing the company's performance over the last year, UMB Financial has demonstrated a high return, with a 1 Year Price Total Return of 50.16%. This robust performance is a testament to the company's market resilience and could be a reassuring factor for investors in light of the recent insider share sale.
From a valuation standpoint, UMB Financial Corporation's current P/E Ratio stands at 10.88, with an adjusted P/E Ratio for the last twelve months as of Q1 2024 at 11.47. This valuation metric provides investors with a perspective on how the market prices the company's earnings and may suggest a potentially attractive investment opportunity relative to its earnings power.
For those interested in more in-depth analysis and additional insights, InvestingPro offers a wealth of information, including more InvestingPro Tips. Currently, there are 7 additional tips available for UMB Financial Corporation, which can be accessed at: https://www.investing.com/pro/UMBF. To enhance your InvestingPro experience, use coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
InvestingPro Data:
- Market Cap (Adjusted): $4.22B USD
- Revenue Growth (Quarterly) for Q1 2024: 11.48%
- Dividend Yield as of the latest dividend ex-date: 1.91%
Whether you're evaluating UMB Financial Corporation in light of recent insider trading or considering it as a potential addition to your investment portfolio, these metrics and insights from InvestingPro can provide a richer, more nuanced picture of the company's financial landscape.
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