Strs Ohio Takes $10.85 Million Position in UMB Financial Corporation $UMBF

Key Points

• Strs Ohio has acquired a new stake in UMB Financial Corporation, purchasing 107,300 shares valued at approximately $10.85 million, representing about 0.14% of the company.
• Several other institutional investors, including Vanguard Group and Dimensional Fund Advisors, have significantly increased their holdings in UMB Financial, indicating strong interest in the stock.
• UMB Financial recently reported $2.96 earnings per share for the last quarter, surpassing estimates, with a year-over-year revenue increase of 76.7%.

Strs Ohio bought a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 107,300 shares of the bank's stock, valued at approximately $10,848,000. Strs Ohio owned approximately 0.14% of UMB Financial at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock valued at $741,342,000 after purchasing an additional 2,570,283 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock valued at $273,029,000 after purchasing an additional 1,185,671 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock valued at $243,359,000 after purchasing an additional 385,830 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of UMB Financial by 7.7% during the 1st quarter. American Century Companies Inc. now owns 2,054,007 shares of the bank's stock valued at $207,660,000 after purchasing an additional 146,585 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of UMB Financial by 10.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,912,883 shares of the bank's stock valued at $192,302,000 after purchasing an additional 174,088 shares in the last quarter. Institutional investors own 87.78% of the company's stock.

Insider Activity

In other UMB Financial news, insider Shannon Andresen Johnson sold 1,367 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total transaction of $164,832.86. Following the completion of the sale, the insider directly owned 34,124 shares of the company's stock, valued at approximately $4,114,671.92. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stacy H. King sold 1,500 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $118.88, for a total transaction of $178,320.00. Following the sale, the insider directly owned 9,472 shares of the company's stock, valued at approximately $1,126,031.36. This represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. Company insiders own 5.45% of the company's stock.

Wall Street Analysts Forecast Growth

UMBF has been the topic of a number of research reports. Royal Bank Of Canada lifted their target price on shares of UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Wells Fargo & Company boosted their price objective on shares of UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Barclays boosted their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Raymond James Financial boosted their price objective on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Piper Sandler boosted their price objective on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One investment 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.com, UMB Financial presently has an average rating of "Moderate Buy" and a consensus price target of $133.89.

UMB Financial Trading Down 0.9%

Shares of NASDAQ UMBF opened at $120.60 on Friday. The firm's 50 day moving average price is $112.89 and its 200-day moving average price is $104.92. The company has a market cap of $9.16 billion, a PE ratio of 13.86, a P/E/G ratio of 1.39 and a beta of 0.77. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77.

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

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 payout ratio is presently 18.39%.

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.

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