Public Employees Retirement System of Ohio Makes New Investment in UMB Financial Corporation $UMBF

Public Employees Retirement System of Ohio purchased a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 42,525 shares of the bank’s stock, valued at approximately $6,071,000.

A number of other hedge funds and other institutional investors have also modified their holdings of UMBF. Mercer Global Advisors Inc. ADV raised its position in UMB Financial by 4.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the bank’s stock worth $295,000 after purchasing an additional 102 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in UMB Financial by 3.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock valued at $335,000 after buying an additional 108 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in UMB Financial by 1.7% in the 1st quarter. First Citizens Bank & Trust Co. now owns 7,272 shares of the bank’s stock valued at $820,000 after buying an additional 125 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of UMB Financial by 3.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank’s stock valued at $450,000 after buying an additional 129 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of UMB Financial by 18.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 888 shares of the bank’s stock valued at $104,000 after buying an additional 136 shares during the period. Institutional investors and hedge funds own 87.78% of the company’s stock.

Insider Buying and Selling

In related news, insider Phillip James Mason sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $147.00, for a total transaction of $117,600.00. Following the completion of the transaction, the insider owned 8,894 shares in the company, valued at approximately $1,307,418. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin Charles Gallagher sold 360 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $145.13, for a total transaction of $52,246.80. Following the completion of the sale, the director directly owned 11,863 shares of the company’s stock, valued at $1,721,677.19. The trade was a 2.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,171 shares of company stock worth $4,919,826 over the last quarter. Insiders own 5.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $181.00 price target (up from $161.00) on shares of UMB Financial in a research note on Thursday, July 30th. JPMorgan Chase & Co. assumed coverage on UMB Financial in a report on Thursday, August 20th. They set an “overweight” rating and a $180.00 price objective for the company. Zacks Research downgraded shares of UMB Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 target price (up from $168.00) on shares of UMB Financial in a research note on Thursday, July 30th. Finally, Wells Fargo & Company set a $160.00 price target on shares of UMB Financial and gave the stock an “equal weight” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, UMB Financial has a consensus rating of “Moderate Buy” and an average price target of $166.54.

UMB Financial Stock Up 46.1%

NASDAQ:UMBF opened at $137.95 on Wednesday. UMB Financial Corporation has a 12-month low of $68.92 and a 12-month high of $141.63. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $10.48 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.69 and a beta of 0.77. The stock’s fifty day simple moving average is $144.93 and its 200-day simple moving average is $130.93.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.45. UMB Financial had a return on equity of 13.41% and a net margin of 21.64%.The business had revenue of $778.00 million during the quarter, compared to the consensus estimate of $727.63 million. During the same quarter in the prior year, the company posted $2.96 earnings per share. Equities research analysts expect that UMB Financial Corporation will post 13.5 earnings per share for the current year.

UMB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be paid a $0.50 dividend. This is a boost from UMB Financial’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. UMB Financial’s dividend payout ratio (DPR) is currently 14.32%.

UMB Financial Profile

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.