Teacher Retirement System of Texas Raises Stock Position in UMB Financial Corporation (NASDAQ:UMBF)

Teacher Retirement System of Texas boosted its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 96.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,723 shares of the bank's stock after acquiring an additional 7,715 shares during the period. Teacher Retirement System of Texas' holdings in UMB Financial were worth $1,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UMBF. JNBA Financial Advisors purchased a new position in shares of UMB Financial in the first quarter worth $186,000. Ameritas Advisory Services LLC acquired a new stake in shares of UMB Financial in the first quarter worth $223,000. New York State Teachers Retirement System increased its stake in shares of UMB Financial by 2.8% in the first quarter. New York State Teachers Retirement System now owns 60,376 shares of the bank's stock worth $6,104,000 after acquiring an additional 1,664 shares during the period. Amalgamated Bank increased its stake in shares of UMB Financial by 47.1% in the first quarter. Amalgamated Bank now owns 29,949 shares of the bank's stock worth $3,028,000 after acquiring an additional 9,588 shares during the period. Finally, KBC Group NV increased its stake in shares of UMB Financial by 68.5% in the first quarter. KBC Group NV now owns 3,376 shares of the bank's stock worth $341,000 after acquiring an additional 1,372 shares during the period. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded down $1.25 during trading on Friday, hitting $110.21. The company had a trading volume of 385,630 shares, compared to its average volume of 546,570. The stock has a fifty day simple moving average of $103.09 and a two-hundred day simple moving average of $104.80. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.30 and a beta of 0.74. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two 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, topping the consensus estimate of $2.21 by $0.37. The firm 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%. The company's revenue for the quarter was up 41.4% on a year-over-year basis. During the same period last year, the firm posted $2.47 earnings per share. On average, research analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, June 10th. UMB Financial's dividend payout ratio is currently 20.13%.

Wall Street Analysts Forecast Growth

UMBF has been the topic of a number of research reports. Truist Financial increased their price objective on shares of UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday. Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Piper Sandler set a $135.00 price target on shares of UMB Financial and gave the company an "overweight" rating in a research report on Friday, June 13th. Bank of America assumed coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on shares of UMB Financial from $110.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $127.00.

Insider Buying and Selling at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the firm's 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 transaction, the chief executive officer directly owned 288,945 shares of the company's stock, valued at approximately $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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.