New Mexico Educational Retirement Board Acquires 5,000 Shares of UMB Financial Corporation (NASDAQ:UMBF)

New Mexico Educational Retirement Board grew its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 56.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,900 shares of the bank's stock after buying an additional 5,000 shares during the quarter. New Mexico Educational Retirement Board's holdings in UMB Financial were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Rothschild Investment LLC boosted its holdings in UMB Financial by 442.0% in the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Versant Capital Management Inc boosted its holdings in UMB Financial by 703.2% in the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after purchasing an additional 436 shares during the last quarter. Covestor Ltd boosted its holdings in UMB Financial by 28.8% in the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the last quarter. Fifth Third Bancorp boosted its holdings in UMB Financial by 38.1% in the first quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock worth $63,000 after purchasing an additional 172 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in UMB Financial in the first quarter worth approximately $82,000. Hedge funds and other institutional investors own 87.78% of the company's stock.

Insider Buying and Selling

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

UMB Financial Price Performance

Shares of UMBF stock traded down $1.25 on Friday, hitting $110.21. 385,630 shares of the stock traded hands, compared to its average volume of 546,570. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.30 and a beta of 0.74. UMB Financial Corporation has a 52 week low of $82.00 and a 52 week high of $129.94. The firm has a 50 day simple moving average of $103.09 and a two-hundred day simple moving average of $104.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77.

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

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, June 10th. UMB Financial's payout ratio is currently 20.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of UMB Financial from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday. Royal Bank Of Canada dropped their target price on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Truist Financial increased their price target on shares of UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday. Bank of America initiated coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price target on the stock. Finally, Piper Sandler set a $135.00 price target on shares of UMB Financial and gave the stock an "overweight" rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $127.00.

UMB Financial Company 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.