California State Teachers Retirement System Grows Position in UMB Financial Corporation $UMBF

Key Points

• California State Teachers Retirement System increased its UMB Financial stake by 13,612.7% in the second quarter, acquiring 11.87 million shares and bringing its ownership to roughly 15.74%. Institutional investors collectively own 87.78% of the company.
• UMB Financial exceeded quarterly expectations, reporting $3.57 in earnings per share and $778 million in revenue, above analyst estimates of $3.12 EPS and $727.63 million in revenue.
• The company raised its quarterly dividend from $0.43 to $0.50 per share, while analysts maintained generally bullish views; UMBF carries a “Moderate Buy” consensus rating with an average price target of $168.92.

California State Teachers Retirement System raised its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 13,612.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,954,437 shares of the bank's stock after acquiring an additional 11,867,259 shares during the period. California State Teachers Retirement System owned approximately 15.74% of UMB Financial worth $1,706,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of UMB Financial in the 2nd quarter valued at about $1,458,386,000. UMB Bank n.a. grew its position in UMB Financial by 11.4% in the fourth quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank's stock worth $553,322,000 after acquiring an additional 493,875 shares in the last quarter. State Street Corp increased its stake in UMB Financial by 7.9% during the second quarter. State Street Corp now owns 4,296,190 shares of the bank's stock worth $453,461,000 after acquiring an additional 313,414 shares during the last quarter. Wellington Management Group LLP increased its stake in UMB Financial by 32.0% during the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank's stock worth $366,743,000 after acquiring an additional 751,525 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in UMB Financial by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,909,932 shares of the bank's stock worth $328,200,000 after acquiring an additional 55,005 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Trading Up 0.1%

NASDAQ UMBF opened at $139.49 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.68 and a beta of 0.77. The company's 50-day simple moving average is $144.68 and its two-hundred day simple moving average is $131.70. UMB Financial Corporation has a one year low of $68.92 and a one year high of $144.36.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 earnings per share for the quarter, topping analysts' consensus estimates of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The firm had revenue of $778.00 million during the quarter, compared to analysts' expectations of $727.63 million. During the same period in the prior year, the business posted $2.96 EPS. Equities analysts forecast that UMB Financial Corporation will post 13.54 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. This is a boost from UMB Financial's previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 10th. UMB Financial's dividend payout ratio (DPR) is 16.65%.

Insiders Place Their Bets

In other UMB Financial news, insider Nikki Farentino Newton sold 2,000 shares of UMB Financial stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total transaction of $297,200.00. Following the completion of the sale, the insider owned 11,981 shares of the company's stock, valued at approximately $1,780,376.60. The trade was a 14.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tamara Peterman bought 394 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average price of $139.60 per share, for a total transaction of $55,002.40. Following the transaction, the director owned 10,680 shares of the company's stock, valued at $1,490,928. The trade was a 3.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 25,544 shares of company stock valued at $3,775,862. 5.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UMBF. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 price target (up from $168.00) on shares of UMB Financial in a research report on Thursday, July 30th. Morgan Stanley boosted their price objective on shares of UMB Financial from $159.00 to $190.00 and gave the company an "overweight" rating in a research report on Tuesday. Barclays reissued an "overweight" rating and issued a $175.00 target price (up from $170.00) on shares of UMB Financial in a research note on Monday, August 3rd. Piper Sandler restated an "overweight" rating and issued a $181.00 target price (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of UMB Financial in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, UMB Financial currently has an average rating of "Moderate Buy" and a consensus price target of $168.92.

UMB Financial Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities.

The company offers commercial and personal banking products, including deposit accounts, lending, treasury management, wealth management and investment services. UMB also provides institutional banking, fund administration, securities custody, corporate trust and payment solutions through its specialized financial services businesses.

Founded in 1913, UMB serves customers through banking locations and business operations across portions of the Midwest and Western United States, as well as through nationwide institutional and payment-services platforms.

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