Strs Ohio Invests $10.85 Million 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 acquired a new position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 107,300 shares of the bank's stock, valued at approximately $10,848,000. Strs Ohio owned about 0.14% of UMB Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in UMBF. Cetera Investment Advisers bought a new stake in shares of UMB Financial during the 4th quarter worth $238,000. Deutsche Bank AG lifted its stake in UMB Financial by 16.4% in the fourth quarter. Deutsche Bank AG now owns 88,320 shares of the bank's stock worth $9,968,000 after purchasing an additional 12,423 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in UMB Financial by 73.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,648 shares of the bank's stock worth $4,813,000 after purchasing an additional 18,130 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in UMB Financial by 18.7% in the fourth quarter. Nuveen Asset Management LLC now owns 427,586 shares of the bank's stock worth $48,257,000 after purchasing an additional 67,480 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in UMB Financial in the fourth quarter worth $664,000. 87.78% of the stock is owned by institutional investors.

Insider Transactions at UMB Financial

In other 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 value of $164,832.86. Following the transaction, the insider owned 34,124 shares in the company, 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 SEC, which is accessible through this link. Also, CEO J Mariner Kemper sold 15,523 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 1,536,781 shares in the company, valued at approximately $178,773,733.73. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 678 shares of company stock valued at $75,948 and have sold 20,845 shares valued at $2,440,666. Corporate insiders own 5.45% of the company's stock.

Wall Street Analysts Forecast Growth

UMBF has been the subject of several recent research reports. Truist Financial boosted their price target on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Wells Fargo & Company boosted their price objective on shares of UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Raymond James Financial boosted their price objective on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Barclays boosted their price objective on shares of UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research report 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 company an "overweight" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, UMB Financial currently has an average rating of "Moderate Buy" and a consensus target price of $133.89.

UMB Financial Stock Up 3.0%

NASDAQ:UMBF traded up $3.64 during mid-day trading on Thursday, hitting $124.18. 481,725 shares of the company's stock were exchanged, compared to its average volume of 467,709. UMB Financial Corporation has a one year low of $82.00 and a one year high of $129.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $115.40 and a 200 day moving average price of $105.40. The company has a market cap of $9.43 billion, a PE ratio of 14.27, a P/E/G ratio of 1.38 and a beta 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. The firm had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The business's revenue was up 76.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Equities analysts predict that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio is currently 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.