UMB Financial Corp (NASDAQ:UMBF) Chairman and CEO, Mariner Kemper (NYSE:KMPR), has recently sold a total of $185,820 worth of company shares, according to a new SEC filing. The transactions were executed on May 1, with prices ranging from $80.61 to $80.82 per share.
The filing revealed several individual sales from trusts associated with Mr. Kemper, all conducted on the same day. The largest single transaction involved the sale of 400 shares at a price of $80.815 per share. Another notable sale was the disposal of 382 shares at $80.68 each. In total, these sales reduced Mr. Kemper's directly and indirectly held shares in UMB Financial Corp, although he still retains a significant stake in the company following the transactions.
UMB Financial Corp, headquartered in Kansas City, Missouri, operates as a financial services provider through its subsidiary, UMB Bank. The company has a long history, with roots going back to the former United Missouri Bancshares Inc.
Investors often monitor the buying and selling activities of company executives as these can provide insights into their confidence in the company's future performance. Sales like these are regularly reported to the SEC and can influence investor perception and stock performance.
It is worth noting that the sales were carried out according to a pre-arranged 10b5-1 trading plan. Such plans allow company insiders to set up a predetermined schedule for buying or selling stocks at a time when they are not in possession of material non-public information. This approach helps to avoid any potential concerns about insider trading.
The SEC filing also included information on a derivative security held by Mr. Kemper, specifically stock options with an exercise price of $75.25, set to expire on February 2, 2027. However, the details of any transactions involving these options were not part of this filing.
As UMB Financial Corp continues its operations, investors and analysts will likely keep a close eye on the trading activities of its executives for further indications of the company's direction and financial health.
InvestingPro Insights
UMB Financial Corp's (NASDAQ:UMBF) recent insider selling by Chairman and CEO, Mariner Kemper, comes at a time when the company exhibits a mix of promising financial metrics and performance. According to real-time data from InvestingPro, UMBF's market capitalization stands at a robust $4.22 billion, reflecting investor confidence in the company's value and stability. Despite concerns over insider sales, the company's P/E ratio remains attractive at 10.88, with a slight increase to 11.47 over the last twelve months as of Q1 2024, indicating reasonable valuation compared to earnings.
Investors may gain additional confidence from the company's dividend history. An InvestingPro Tip highlights that UMBF has not only maintained dividend payments but has impressively raised its dividend for 54 consecutive years, showcasing a commitment to shareholder returns. This consistency is a key indicator of UMBF's financial discipline and long-term perspective.
Moreover, another positive sign for investors is the company's performance over the past year. UMBF has seen a high return with a 50.16% increase in its 1-year price total return as of the date provided, which far outpaces the broader market. While the recent selling by the CEO may raise questions, these strong performance indicators suggest a solid foundation that might reassure investors.
It's also worth noting that there are more InvestingPro Tips available for those interested in a deeper dive into UMBF's financial health. For instance, 5 analysts have revised their earnings upwards for the upcoming period, and analysts predict the company will be profitable this year. These insights, along with others, can be accessed through InvestingPro, and users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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