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KANSAS CITY, MO—Mariner Kemper (NYSE:KMPR), Chairman and CEO of UMB Financial Corp (NASDAQ:UMBF), a $7.74 billion market cap financial institution currently trading near its InvestingPro Fair Value, recently sold a significant portion of the company’s common stock, according to a filing with the Securities and Exchange Commission. On June 2, Kemper sold a total of 5,412 shares, yielding approximately $550,999. The shares were sold at a weighted average price, with transactions ranging from $101.80 to $101.84 per share. The stock, which trades at a P/E ratio of 13.2, has demonstrated strong dividend reliability with 32 consecutive years of increases.
The shares sold were held indirectly by Kemper through Kemper Realty and Pioneer Service Corporation. Following these transactions, Kemper continues to hold a substantial number of shares, with direct and indirect ownership across various trusts and accounts. Nine analysts have recently revised their earnings estimates upward, with targets ranging from $109 to $137 per share. For deeper insights into UMB Financial’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, UMB Financial has announced a public offering of depositary shares linked to its Series B Preferred Stock, aiming to raise funds for corporate purposes such as redeeming its Series A Preferred Stock and retiring part of its subordinated notes due in 2030. This strategic move is managed by RBC Capital Markets and J.P. Morgan Securities, with Piper Sandler and Wells Fargo (NYSE:WFC) Securities as co-managers. Analysts at Keefe, Bruyette & Woods have reiterated an Outperform rating for UMB Financial, highlighting the company’s strong profitability metrics and undervaluation compared to peers. Raymond (NSE:RYMD) James also maintained a Strong Buy rating, citing the recent investor meetings that underscored UMB Financial’s robust credit performance and growth prospects following its acquisition of Heartland.
Additionally, UMB Financial is preparing to redeem higher-repricing securities using proceeds from the Series B offering, a move expected to slightly impact earnings per share by 2026. The redemption involves $111 million of Series A stock and $200 million in subordinated notes, both set to reprice at higher rates soon. UMB Bank, a subsidiary of UMB Financial, has expanded its Corporate Trust Services in California by opening a new office in Costa Mesa and hiring professionals from Wilmington Trust. This expansion is part of UMB’s strategy to enhance its corporate trust business and service offerings in key markets. These developments reflect UMB Financial’s ongoing efforts to optimize its capital structure and expand its market presence.
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