23,767 Shares in UMB Financial Corporation (NASDAQ:UMBF) Purchased by Friday Financial

Friday Financial purchased a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,767 shares of the bank's stock, valued at approximately $2,424,000. UMB Financial accounts for approximately 1.5% of Friday Financial's investment portfolio, making the stock its 17th largest holding.

Other large investors have also recently made changes to their positions in the company. Retirement Systems of Alabama boosted its position in UMB Financial by 53.4% in the 1st quarter. Retirement Systems of Alabama now owns 82,833 shares of the bank's stock valued at $8,374,000 after buying an additional 28,838 shares during the period. State of Alaska Department of Revenue boosted its position in UMB Financial by 57.2% in the 1st quarter. State of Alaska Department of Revenue now owns 7,966 shares of the bank's stock valued at $805,000 after buying an additional 2,900 shares during the period. Precision Wealth Strategies LLC purchased a new stake in UMB Financial in the 1st quarter valued at about $293,000. Wealth Enhancement Advisory Services LLC purchased a new stake in UMB Financial in the 1st quarter valued at about $1,955,000. Finally, SummerHaven Investment Management LLC boosted its position in UMB Financial by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock valued at $925,000 after buying an additional 122 shares during the period. 87.78% of the stock is owned by hedge funds and other institutional investors.

UMB Financial Stock Performance

Shares of UMBF stock opened at $100.66 on Monday. The business's fifty day simple moving average is $100.55 and its 200-day simple moving average is $106.50. The company has a market cap of $7.64 billion, a PE ratio of 12.66, a PEG ratio of 1.17 and a beta of 0.75. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 12-month low of $79.88 and a 12-month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The business's quarterly revenue was up 41.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 earnings per share. Analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's payout ratio is presently 20.13%.

Insider Transactions at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the transaction, the chief executive officer now directly owns 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.45% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on UMBF. Piper Sandler set a $135.00 price objective on shares of UMB Financial and gave the company an "overweight" rating in a research report on Friday, June 13th. Morgan Stanley reduced their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company boosted their price target on shares of UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Barclays reduced their price target on shares of UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Royal Bank Of Canada reduced their price target on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, UMB Financial currently has an average rating of "Moderate Buy" and an average price target of $122.88.

About UMB Financial

UMB Financial Corporation operates as the bank holding company that provides banking services and asset servicing in the United States and internationally. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.