State of Alaska Department of Revenue Acquires 2,900 Shares of UMB Financial Corporation (NASDAQ:UMBF)

State of Alaska Department of Revenue lifted its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 57.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,966 shares of the bank's stock after acquiring an additional 2,900 shares during the period. State of Alaska Department of Revenue's holdings in UMB Financial were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of UMB Financial during the 4th quarter worth $748,000. Amalgamated Bank grew its position in UMB Financial by 1.9% in the fourth quarter. Amalgamated Bank now owns 20,361 shares of the bank's stock valued at $2,298,000 after acquiring an additional 376 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in UMB Financial by 3.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 8,144 shares of the bank's stock valued at $919,000 after acquiring an additional 236 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in UMB Financial during the fourth quarter worth about $1,752,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of UMB Financial by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 290,326 shares of the bank's stock worth $32,766,000 after acquiring an additional 29,516 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Trading Down 0.8%

NASDAQ UMBF traded down $0.86 on Monday, reaching $105.16. The company had a trading volume of 571,856 shares, compared to its average volume of 543,573. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 1.24 and a beta of 0.75. 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 Corporation has a fifty-two week low of $81.01 and a fifty-two week high of $129.94. The business has a 50 day moving average of $102.18 and a two-hundred day moving average of $105.68.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly 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 return on equity of 12.09% and a net margin of 13.64%. The company had revenue of $563.84 million during the quarter, compared to analysts' expectations of $555.79 million. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The business's quarterly revenue was up 41.4% on a year-over-year basis. Analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.52%. UMB Financial's payout ratio is 20.13%.

Wall Street Analyst Weigh In

UMBF has been the topic of several research reports. Truist Financial started coverage on shares of UMB Financial in a report on Tuesday, May 13th. They set a "buy" rating and a $120.00 price target on the stock. Royal Bank Of Canada lowered their price target on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Morgan Stanley cut their price objective on UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Wall Street Zen lowered UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company increased their target price on UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $122.88.

Insider Transactions at UMB Financial

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

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.