Louisiana State Employees Retirement System Acquires 6,800 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Louisiana State Employees Retirement System boosted its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 55.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,100 shares of the bank's stock after acquiring an additional 6,800 shares during the quarter. Louisiana State Employees Retirement System's holdings in UMB Financial were worth $1,931,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in UMB Financial by 21.1% in the 1st quarter. Bank of New York Mellon Corp now owns 546,483 shares of the bank's stock valued at $55,249,000 after buying an additional 95,339 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of UMB Financial by 27.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 2,367 shares of the bank's stock valued at $239,000 after acquiring an additional 509 shares during the period. Teacher Retirement System of Texas grew its position in shares of UMB Financial by 96.3% in the 1st quarter. Teacher Retirement System of Texas now owns 15,723 shares of the bank's stock valued at $1,590,000 after acquiring an additional 7,715 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of UMB Financial by 2.8% during the 1st quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock worth $6,104,000 after buying an additional 1,664 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of UMB Financial during the 4th quarter worth about $2,190,000. 87.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on UMBF shares. Wells Fargo & Company lifted their target price on shares of UMB Financial from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Royal Bank Of Canada reduced their target price on shares of UMB Financial from $128.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Truist Financial set a $128.00 price objective on shares of UMB Financial and gave the stock a "buy" rating in a research note on Friday, July 11th. Piper Sandler set a $135.00 price objective on shares of UMB Financial and gave the stock an "overweight" rating in a research note on Friday, June 13th. Finally, Barclays lifted their price objective on shares of UMB Financial from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $127.00.

UMB Financial Price Performance

Shares of UMB Financial stock traded down $0.23 during midday trading on Friday, hitting $109.19. 47,144 shares of the company traded hands, compared to its average volume of 543,943. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.44 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The firm's fifty day moving average price is $103.71 and its 200-day moving average price is $104.54. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month 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 company had revenue of $563.84 million for the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. UMB Financial's quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. As a group, sell-side analysts forecast 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 was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, June 10th. UMB Financial's dividend payout ratio is 20.13%.

Insider Buying and Selling

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the sale, the chief executive officer owned 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.45% of the company's stock.

UMB Financial Company Profile

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.