Teachers Retirement System of The State of Kentucky Increases Stock Holdings in UMB Financial Corporation (NASDAQ:UMBF)

Teachers Retirement System of The State of Kentucky grew its stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 51.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,197 shares of the bank's stock after buying an additional 7,235 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in UMB Financial were worth $2,143,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its holdings in UMB Financial by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock valued at $925,000 after buying an additional 122 shares during the period. Covestor Ltd increased its stake in shares of UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after buying an additional 124 shares during the period. EP Wealth Advisors LLC boosted its position in shares of UMB Financial by 5.8% in the 4th quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock valued at $266,000 after purchasing an additional 130 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of UMB Financial by 4.1% during the first quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank's stock worth $383,000 after purchasing an additional 150 shares during the last quarter. Finally, Heritage Family Offices LLP lifted its position in shares of UMB Financial by 7.6% during the 1st quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank's stock valued at $224,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on UMBF. 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. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. 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 report on Tuesday, July 8th. Truist Financial set a $128.00 price objective on UMB Financial and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company boosted their price target on UMB Financial from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $127.00.

UMB Financial Price Performance

UMBF stock traded down $0.19 during midday trading on Thursday, reaching $108.05. 601,238 shares of the stock were exchanged, compared to its average volume of 528,218. The stock has a market capitalization of $8.20 billion, a PE ratio of 13.59, a P/E/G ratio of 1.44 and a beta of 0.74. 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 company has a fifty day moving average price of $103.89 and a 200 day moving average price of $104.48. UMB Financial Corporation has a 52 week low of $82.00 and a 52 week high of $129.94.

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

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.48%. UMB Financial's payout ratio is currently 20.13%.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the company'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 transaction of $550,995.72. Following the transaction, the chief executive officer owned 288,945 shares in the company, valued at approximately $29,417,490.45. This represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.45% of the company's stock.

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.