Strs Ohio Reduces Position in UMB Financial Corporation $UMBF

Key Points

• Strs Ohio reduced its stake in UMB Financial by 14.8%, selling 17,700 shares and finishing the quarter with 102,000 shares valued at about $11.73 million.
• Other institutions notably increased positions—Royal Bank of Canada +28.2%, UBS AM +65.2%, Jane Street +161.7%—and institutional investors now own 87.78% of the stock.
• UMB Financial beat Q1 estimates with EPS $3.41 vs. $2.82 and revenue of $739.16M (up 31.1% y/y); it pays a $0.43 quarterly dividend (1.3% yield) and trades at a market cap of roughly $9.85B with a P/E of 11.48.

Strs Ohio reduced its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,000 shares of the bank's stock after selling 17,700 shares during the quarter. Strs Ohio owned about 0.13% of UMB Financial worth $11,734,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in UMB Financial by 28.2% in the 1st quarter. Royal Bank of Canada now owns 42,829 shares of the bank's stock valued at $4,329,000 after purchasing an additional 9,417 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of UMB Financial by 47.0% during the first quarter. NewEdge Advisors LLC now owns 5,643 shares of the bank's stock worth $570,000 after buying an additional 1,803 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of UMB Financial by 65.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 207,881 shares of the bank's stock valued at $21,017,000 after buying an additional 82,083 shares during the last quarter. Jane Street Group LLC raised its position in shares of UMB Financial by 161.7% in the first quarter. Jane Street Group LLC now owns 49,877 shares of the bank's stock valued at $5,043,000 after buying an additional 30,820 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of UMB Financial by 6.8% during the second quarter. Cetera Investment Advisers now owns 4,232 shares of the bank's stock valued at $445,000 after buying an additional 269 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Price Performance

Shares of UMB Financial stock opened at $129.41 on Tuesday. The business's fifty day moving average price is $117.20 and its 200 day moving average price is $117.37. UMB Financial Corporation has a twelve month low of $98.16 and a twelve month high of $136.11. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $9.85 billion, a P/E ratio of 11.48, a PEG ratio of 1.03 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, topping the consensus estimate of $2.82 by $0.59. The company had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The firm's revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 earnings per share. As a group, research analysts anticipate that UMB Financial Corporation will post 12.33 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be issued a $0.43 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.72 annualized dividend and a yield of 1.3%. UMB Financial's dividend payout ratio (DPR) is presently 15.26%.

Analyst Upgrades and Downgrades

UMBF has been the topic of a number of recent analyst reports. Weiss Ratings raised UMB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, April 27th. TD Cowen upped their target price on UMB Financial from $141.00 to $147.00 and gave the company a "buy" rating in a research note on Thursday. Zacks Research lowered UMB Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Hovde Group lifted their price target on UMB Financial from $145.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, Piper Sandler upped their price objective on shares of UMB Financial from $152.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $145.55.

UMB Financial Company Profile

UMB Financial Corporation NASDAQ: UMBF is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.

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