California State Teachers Retirement System decreased its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 3.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 83,738 shares of the bank's stock after selling 3,440 shares during the period. California State Teachers Retirement System owned about 0.11% of UMB Financial worth $11,954,437 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of UMBF. HB Wealth Management LLC bought a new stake in shares of UMB Financial during the second quarter valued at about $248,000. Concurrent Investment Advisors LLC boosted its stake in shares of UMB Financial by 14.1% during the second quarter. Concurrent Investment Advisors LLC now owns 3,928 shares of the bank's stock valued at $561,000 after purchasing an additional 484 shares in the last quarter. Nykredit A S acquired a new position in shares of UMB Financial in the second quarter valued at about $556,000. B. Metzler seel. Sohn & Co. AG grew its position in shares of UMB Financial by 14.7% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 43,882 shares of the bank's stock valued at $6,265,000 after purchasing an additional 5,621 shares during the period. Finally, Greenleaf Trust grew its holdings in shares of UMB Financial by 4.7% during the 2nd quarter. Greenleaf Trust now owns 2,506 shares of the bank's stock worth $358,000 after purchasing an additional 113 shares during the period. Institutional investors own 87.78% of the company's stock.
Insider Activity at UMB Financial
In other UMB Financial news, insider Nikki Farentino Newton sold 2,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $148.60, for a total value of $297,200.00. Following the completion of the transaction, the insider owned 11,981 shares in the company, valued at $1,780,376.60. This represents a 14.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J. Kemper sold 15,062 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total value of $2,237,460.10. Following the transaction, the chief executive officer owned 1,491,138 shares in the company, valued at approximately $221,508,549.90. The trade was a 1.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,544 shares of company stock worth $3,775,862 over the last ninety days. 5.33% of the stock is owned by corporate insiders.
UMB Financial Stock Performance
UMBF traded down $1.44 on Tuesday, hitting $138.34. 137,812 shares of the company traded hands, compared to its average volume of 903,738. UMB Financial Corporation has a 12-month low of $68.92 and a 12-month high of $144.36. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $144.59 and a 200-day moving average of $131.92. The stock has a market capitalization of $10.51 billion, a PE ratio of 11.52, a PEG ratio of 0.68 and a beta of 0.77.
UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, July 28th. The bank reported $3.57 EPS 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 company had revenue of $778.00 million for the quarter, compared to the consensus estimate of $727.63 million. During the same quarter last year, the business posted $2.96 EPS. Sell-side analysts anticipate that UMB Financial Corporation will post 13.54 earnings per share for the current year.
UMB Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. This is an increase 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 presently 16.65%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on UMBF. Weiss Ratings reiterated a "buy (b)" rating on shares of UMB Financial in a report on Friday, July 24th. JPMorgan Chase & Co. initiated coverage on UMB Financial in a research note on Thursday, August 20th. They issued an "overweight" rating and a $180.00 price objective on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a research report on Thursday, July 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 price objective (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, UBS Group initiated coverage on shares of UMB Financial in a research report on Monday. They set a "neutral" rating and a $155.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $167.93.
Read Our Latest Report on UMB Financial
About UMB Financial
(
Free Report)
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.
Further Reading
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