Arizona State Retirement System Acquires 7,329 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Arizona State Retirement System boosted its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 54.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,748 shares of the bank's stock after buying an additional 7,329 shares during the quarter. Arizona State Retirement System's holdings in UMB Financial were worth $2,098,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of UMBF. Proficio Capital Partners LLC acquired a new position in UMB Financial during the fourth quarter worth $1,752,000. Raymond James Financial Inc. acquired a new position in UMB Financial during the fourth quarter worth $11,357,000. HighTower Advisors LLC acquired a new stake in shares of UMB Financial in the fourth quarter valued at about $201,000. Swiss National Bank grew its position in shares of UMB Financial by 0.8% in the fourth quarter. Swiss National Bank now owns 91,100 shares of the bank's stock valued at $10,282,000 after purchasing an additional 700 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in shares of UMB Financial by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 29,321 shares of the bank's stock valued at $3,309,000 after purchasing an additional 386 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler set a $135.00 price target on UMB Financial and gave the company an "overweight" rating in a research report on Friday, June 13th. Wells Fargo & Company raised their price target on UMB Financial from $110.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Bank of America assumed coverage on UMB Financial in a research report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target on the stock. Royal Bank Of Canada lowered their price target on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $127.00.

UMB Financial Stock Performance

Shares of NASDAQ UMBF traded up $0.31 during mid-day trading on Friday, hitting $109.73. The company had a trading volume of 407,418 shares, compared to its average volume of 544,966. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The business's 50-day simple moving average is $103.74 and its 200-day simple moving average is $104.57. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The firm has a market cap of $8.33 billion, a P/E ratio of 13.80, a PEG ratio of 1.44 and a beta of 0.74.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.37. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The business had revenue of $563.84 million during the quarter, compared to analysts' expectations of $555.79 million. During the same quarter last year, the company earned $2.47 earnings per share. The firm's revenue was up 41.4% on a year-over-year basis. As a group, analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Tuesday, June 10th. UMB Financial's dividend payout ratio is 20.13%.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction of $550,995.72. Following the completion of the transaction, the chief executive officer owned 288,945 shares in the company, valued at $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.45% of the stock is currently owned by corporate insiders.

UMB Financial Profile

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.