KANSAS CITY—Kemper (NYSE:KMPR) J. Mariner, Chairman and CEO of UMB Financial Corp (NASDAQ:UMBF), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Kemper disposed of a total of 24,300 shares of UMB Financial Corp's common stock on November 1, 2024. The shares were sold at prices ranging from $107.87 to $110.29, resulting in a total transaction value of approximately $2.64 million.
Following these sales, Kemper holds 1,580,504 shares indirectly through the RC Kemper Irrevocable Trust, among other holdings. The transactions were executed in multiple trades, with specific prices for each trade available upon request from the issuer or the Securities and Exchange Commission.
In other recent news, UMB Financial has demonstrated impressive financial results, with Citi maintaining a Buy rating on the stock and raising its price target to $130.00. The bank's robust earnings and revenue results for the third quarter of 2024 have been highlighted, with GAAP earnings of $109.6 million, or $2.23 per share, and operating earnings of $2.25 per share. This strong performance was propelled by a record loan production of $1.4 billion and nearly 10% annualized loan growth, along with a substantial increase in fee income.
In addition to these financial achievements, UMB Financial is on track to finalize the acquisition of Heartland Financial in early 2025. The company's management is confident in sustaining loan growth and fee income, with expectations of double-digit organic loan growth in 2025 and approximately $9.5 billion in organic deposit growth.
Citi analysts have expressed an optimistic view of UMB Financial's future, noting the bank's potential for an improved net interest margin by the end of 2024. The bank's loan growth trend is stronger than previously anticipated, and there are indications that its overall operating leverage could see improvement. These recent developments suggest that UMB Financial is well-positioned for financial growth and stability in the near future.
InvestingPro Insights
While Kemper J. Mariner's recent sale of UMB Financial Corp (NASDAQ:UMBF) shares may raise eyebrows, it's essential to consider the broader financial context of the company. According to InvestingPro data, UMB Financial Corp boasts a market capitalization of $5.26 billion and a P/E ratio of 13.42, suggesting a relatively modest valuation compared to some peers in the financial sector.
Investors should note that UMB Financial Corp has demonstrated strong performance recently. The company's stock has shown impressive returns, with a 59.12% price total return over the past year and a 32.3% return over the last six months. This robust performance aligns with an InvestingPro Tip indicating that UMB has maintained a high return over the last year.
Moreover, UMB Financial Corp has a solid track record of shareholder returns. An InvestingPro Tip highlights that the company has raised its dividend for 32 consecutive years, underscoring its commitment to returning value to shareholders. This consistency in dividend growth, coupled with a current dividend yield of 1.48%, may provide some reassurance to investors concerned about the CEO's stock sale.
It's worth noting that InvestingPro offers 11 additional tips for UMB Financial Corp, providing a more comprehensive analysis for investors seeking deeper insights into the company's financial health and prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.