Intel stock extends gains after report of possible U.S. government stake
KANSAS CITY, Mo.—Nikki Farentino Newton, President of Private Wealth Management at UMB Financial Corp (NASDAQ:UMBF), recently executed a sale of company stock amounting to $102,425. The transactions, which took place on March 7, involved the sale of a total of 1,000 shares of common stock. The shares were sold at prices ranging from $102.37 to $102.515 per share. The $7.15 billion financial institution’s stock has recently shown signs of being oversold, according to InvestingPro technical indicators, with analysts setting price targets between $120 and $156.
Following these transactions, Newton holds approximately 15,559.81 shares directly. Additionally, there are shares owned indirectly by an Employee Stock Ownership Plan (ESOP), reflecting allocations and dispositions since the last ownership report. Notably, UMB Financial has maintained dividend payments for 55 consecutive years and raised them for 32 straight years, according to InvestingPro data, which offers comprehensive analysis of 1,400+ stocks including UMBF. The sales were disclosed in a filing with the Securities and Exchange Commission, signed by Megan L. Mercer (NASDAQ:MERC), attorney-in-fact for Newton.
In other recent news, UMB Financial Corporation reported impressive financial results for Q4 2024, with earnings per share (EPS) of $2.49, surpassing analyst expectations of $2.26. The company’s revenue also exceeded forecasts, reaching $434.18 million against the anticipated $411.97 million. Additionally, UMB Financial’s net interest income topped $1 billion, reflecting an 8.7% increase quarter-over-quarter. The acquisition of Heartland Financial (NASDAQ:HTLF) is set to close on January 31, 2025, which is expected to further impact the company’s financial landscape. Despite a strong operational quarter, Citi analysts downgraded UMB Financial from Buy to Neutral, citing concerns over the integration and performance of Heartland Financial. Keefe, Bruyette & Woods, however, maintained a positive outlook on UMB Financial, recommending it as a buy amid a downturn in bank stocks. These developments come as investors closely monitor UMB Financial’s integration of Heartland Financial, with expectations for the merger to bring long-term benefits by 2026.
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