UMB Financial completes redemption and terminates Series A preferred stock
Investing.com
Published Jul 15, 2025 05:36PM ET
UMB Financial Corp . (NASDAQ:UMBF), a $8.1 billion market cap financial institution with a "GOOD" financial health rating according to InvestingPro , announced Tuesday that it has completed the previously disclosed redemption of all outstanding shares of its 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, along with the corresponding depositary shares representing fractional interests in this series.
According to a statement based on a recent SEC filing, UMB Financial also filed a Termination of Certificate of Designation with the Missouri Secretary of State, effectively removing all matters related to the Series A Preferred Stock from its Restated Articles of Incorporation. The termination was filed on Tuesday. The company, which trades at a P/E ratio of 14 and offers a 1.43% dividend yield, has maintained dividend payments for 55 consecutive years.
The Certificate of Designation for the Series A Preferred Stock was originally included in the company’s Restated Articles of Incorporation filed on January 31, 2025. The company’s common stock and depositary shares representing interests in its Series B Preferred Stock continue to be listed on The Nasdaq Global Select Market under the symbols UMBF and UMBFO, respectively.
The filing was signed by Chief Financial Officer Ram Shankar. This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, UMB Financial Corporation reported several significant developments. The company has initiated a public offering of depositary shares representing its Series B Preferred Stock, with plans to use the raised funds for general corporate purposes, including redeeming Series A Preferred Stock and retiring subordinated notes due in 2030. Additionally, Piper Sandler has adjusted its price target for UMB Financial to $135 from $137, maintaining an Overweight rating, and highlighted the potential for cost synergies following the HTLF acquisition. Keefe, Bruyette & Woods also reaffirmed an Outperform rating with a $130 price target, noting UMB Financial's strong capital position and profitability metrics. Meanwhile, Raymond James reiterated a Strong Buy rating with a $135 target, emphasizing the strategic use of proceeds from the Series B offering to manage capital costs. The company is expanding its corporate trust services in California, opening a new office in Costa Mesa and hiring professionals from Wilmington Trust. This expansion is part of UMB Financial's broader strategy to enhance its service offerings and grow its corporate trust business.
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Written By: Investing.com
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