State of Wyoming Acquires 3,752 Shares of UMB Financial Corporation $UMBF

Key Points

• The State of Wyoming increased its stake in UMB Financial Corporation by 97.9%, owning 7,585 shares valued at $767,000 by the end of the first quarter.
• Several major institutional investors, including Brooklyn Investment Group and Rothschild Investment LLC, made significant increases in their stakes in UMB Financial during the same period.
• UMB Financial recently reported earnings of $2.96 per share, surpassing analysts' expectations while announcing a quarterly dividend of $0.40 per share to be paid in October.

State of Wyoming boosted its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 97.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,585 shares of the bank's stock after acquiring an additional 3,752 shares during the quarter. State of Wyoming's holdings in UMB Financial were worth $767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of 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 worth $55,249,000 after purchasing an additional 95,339 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake 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 worth $239,000 after purchasing an additional 509 shares during the last quarter. Teacher Retirement System of Texas grew its stake 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 worth $1,590,000 after purchasing an additional 7,715 shares during the last quarter. New York State Teachers Retirement System grew its stake 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 worth $6,104,000 after purchasing an additional 1,664 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of UMB Financial in the first quarter worth about $237,000. 87.78% of the stock is owned by institutional investors.

UMB Financial Stock Down 0.3%

NASDAQ UMBF traded down $0.39 during mid-day trading on Tuesday, reaching $121.51. The stock had a trading volume of 317,071 shares, compared to its average volume of 653,687. 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 1 year low of $82.00 and a 1 year high of $129.94. The stock has a market cap of $9.23 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.77. The company has a fifty day moving average price of $110.41 and a 200 day moving average price of $104.00.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The bank reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The business had revenue of $689.21 million during the quarter, compared to the consensus estimate of $638.25 million. During the same quarter in the previous year, the firm posted $2.16 EPS. The firm's revenue was up 76.7% on a year-over-year basis. On average, research analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 10th. UMB Financial's dividend payout ratio is 18.39%.

Insider Activity

In other news, CEO J Mariner Kemper sold 15,523 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total transaction of $1,805,790.59. Following the sale, the chief executive officer directly owned 1,536,781 shares in the company, valued at approximately $178,773,733.73. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stacy H. King sold 1,500 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $118.88, for a total transaction of $178,320.00. Following the completion of the sale, the insider directly owned 9,472 shares in the company, valued at $1,126,031.36. This trade represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,478 shares of company stock worth $2,275,833. 5.45% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UMBF. Barclays raised their target price on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Wells Fargo & Company raised their target price on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Piper Sandler lifted their price objective on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada lifted their price objective on UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Finally, Truist Financial lifted their price objective on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $132.11.

About UMB Financial

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.