Teacher Retirement System of Texas Buys 7,715 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Teacher Retirement System of Texas lifted its position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 96.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,723 shares of the bank's stock after acquiring an additional 7,715 shares during the quarter. Teacher Retirement System of Texas' holdings in UMB Financial were worth $1,590,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC boosted its holdings in shares of UMB Financial by 442.0% during the first quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares during the period. Versant Capital Management Inc lifted its position in UMB Financial by 703.2% in the 1st quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after buying an additional 436 shares in the last quarter. Covestor Ltd boosted its stake in shares of UMB Financial by 28.8% during the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after buying an additional 124 shares during the period. Fifth Third Bancorp grew its holdings in shares of UMB Financial by 38.1% during the 1st quarter. Fifth Third Bancorp now owns 624 shares of the bank's stock valued at $63,000 after acquiring an additional 172 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new position in shares of UMB Financial in the first quarter worth $82,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction that occurred on Monday, June 2nd. The shares were 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 of the company's stock, valued at $29,417,490.45. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on UMBF shares. Wells Fargo & Company increased their price objective on UMB Financial from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. 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 on the stock. Truist Financial set a $128.00 target price on UMB Financial and gave the company a "buy" rating in a research note on Friday. Finally, Royal Bank Of Canada reduced their price target 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $127.00.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded down $4.14 during mid-day trading on Tuesday, hitting $107.95. 313,083 shares of the stock were exchanged, compared to its average volume of 545,900. The company has a market cap of $8.20 billion, a P/E ratio of 13.64, a PEG ratio of 1.29 and a beta of 0.74. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $129.94. The stock's fifty day simple moving average is $103.09 and its two-hundred day simple moving average is $104.66. 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 quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. UMB Financial had a net margin of 13.64% and a return on equity of 12.09%. The firm had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same quarter in the prior year, the firm earned $2.47 EPS. The company's revenue was up 41.4% on a year-over-year basis. As a group, analysts forecast that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, June 10th. UMB Financial's dividend payout ratio (DPR) is currently 20.13%.

UMB Financial 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.