UMB Financial Corporation (NASDAQ:UMBF) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 53.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,833 shares of the bank's stock after buying an additional 28,838 shares during the quarter. Retirement Systems of Alabama owned approximately 0.11% of UMB Financial worth $8,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Freestone Grove Partners LP purchased a new stake in UMB Financial during the fourth quarter worth approximately $48,235,000. Adage Capital Partners GP L.L.C. lifted its stake in UMB Financial by 298.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 301,708 shares of the bank's stock worth $34,051,000 after purchasing an additional 225,908 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in UMB Financial by 22,173.3% during the fourth quarter. Point72 Asset Management L.P. now owns 176,627 shares of the bank's stock worth $19,934,000 after purchasing an additional 175,834 shares during the last quarter. Norges Bank purchased a new stake in UMB Financial during the fourth quarter worth approximately $15,835,000. Finally, Wellington Management Group LLP lifted its stake in UMB Financial by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 2,021,285 shares of the bank's stock worth $228,122,000 after purchasing an additional 102,104 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer now owns 288,945 shares of the company's stock, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.45% of the company's stock.

Analysts Set New Price Targets

UMBF has been the subject of several recent analyst reports. Barclays decreased their target price on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Truist Financial started coverage on UMB Financial in a research note on Tuesday, May 13th. They issued a "buy" rating and a $120.00 price objective for the company. Bank of America started coverage on UMB Financial in a research note on Wednesday, April 16th. They issued a "buy" rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $122.88.

UMB Financial Stock Performance

Shares of NASDAQ:UMBF traded up $2.02 during trading on Tuesday, reaching $103.72. The company had a trading volume of 552,813 shares, compared to its average volume of 535,999. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.19 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. The stock's fifty day moving average price is $100.80 and its 200 day moving average price is $106.33. UMB Financial Corporation has a fifty-two week low of $79.94 and a fifty-two week high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The company's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 earnings per share. As a group, equities research analysts predict that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's payout ratio is currently 20.13%.

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.