KANSAS CITY, MO—Kemper (NYSE:KMPR) J. Mariner, Chairman and CEO of UMB Financial Corp (NASDAQ:UMBF), recently sold 24,300 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The transactions, which took place on December 2, 2024, were executed at prices ranging from $124.61 to $125.18 per share, totaling approximately $3,036,383. The sale comes as UMB's stock trades near its 52-week high of $129.94, having delivered an impressive 69% return over the past year.
The shares were sold through the RC Kemper Irrevocable Trust, leaving Mariner with a remaining indirect ownership of 1,552,304 shares following the transactions. The sales were part of multiple transactions, reflecting a weighted average price within the stated range.
UMB Financial Corp, headquartered in Kansas City, Missouri, operates as a diversified financial services holding company, providing banking, asset management, and related financial services to customers. With a market capitalization of $6.2 billion, the company has maintained dividend payments for 54 consecutive years and earned a "GOOD" overall financial health score from InvestingPro, which offers comprehensive analysis and 13 additional key insights about UMBF's performance and outlook.
In other recent news, UMB Financial reported robust third-quarter 2024 financial results, with GAAP earnings of $109.6 million, or $2.23 per share, and operating earnings of $2.25 per share. These results were driven by a record loan production of $1.4 billion and nearly 10% annualized loan growth. The acquisition of Heartland Financial (NASDAQ:HTLF), expected to be finalized in early 2025, is another major development for the company.
RBC Capital has initiated coverage on UMB Financial, assigning a "Sector Perform" rating, while Morgan Stanley (NYSE:MS) initiated coverage with an Overweight rating. Citi maintained its Buy rating on UMB Financial and raised its price target from $127.00 to $130.00, reflecting an optimistic view of the bank's future financial performance.
These recent developments underscore UMB Financial's strong market positioning and growth strategy, particularly as it prepares for the completion of the Heartland Financial acquisition. The company's focus on maintaining credit quality and growing both loan production and fee income streams indicates a proactive approach to navigating the competitive financial landscape.
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