UMB Financial Corporation (NASDAQ:UMBF) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 1,302.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 194,586 shares of the bank's stock after acquiring an additional 180,712 shares during the period. New York State Common Retirement Fund owned about 0.26% of UMB Financial worth $19,673,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in UMB Financial by 21.1% in the first quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock valued at $55,249,000 after acquiring an additional 95,339 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of UMB Financial by 27.4% in the first quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock valued at $239,000 after buying an additional 509 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of UMB Financial by 96.3% in the first quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock valued at $1,590,000 after buying an additional 7,715 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of UMB Financial by 2.8% in the first quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock valued at $6,104,000 after buying an additional 1,664 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of UMB Financial in the fourth quarter valued at about $2,190,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UMBF. Bank of America began coverage on shares of UMB Financial in a report on Wednesday, April 16th. They issued a "buy" rating and a $105.00 target price for the company. Barclays upped their target price on shares of UMB Financial from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler set a $135.00 price target on shares of UMB Financial and gave the stock an "overweight" rating in a research note on Friday, June 13th. Wells Fargo & Company boosted their price target on shares of UMB Financial from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $127.00.

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction that occurred 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 directly owned 288,945 shares in the company, valued at $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.45% of the company's stock.

UMB Financial Price Performance

UMBF traded up $0.31 on Friday, hitting $109.73. 381,420 shares of the company were exchanged, compared to its average volume of 545,239. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The business's fifty day moving average is $103.74 and its 200 day moving average is $104.57. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The firm has a market capitalization of $8.33 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.44 and a beta of 0.74.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping 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 company had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same period in the prior year, the business posted $2.47 earnings per share. The firm's revenue for the quarter was up 41.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

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

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.