Retirement Systems of Alabama grew its stake in shares of UMB Financial Corporation (NASDAQ:UMBF – Free Report) by 53.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,833 shares of the bank’s stock after purchasing an additional 28,838 shares during the period. Retirement Systems of Alabama owned about 0.11% of UMB Financial worth $8,374,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Rothschild Investment LLC lifted 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 valued at $27,000 after purchasing an additional 221 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of UMB Financial by 703.2% during the first quarter. Versant Capital Management Inc now owns 498 shares of the bank’s stock valued at $50,000 after purchasing an additional 436 shares during the last quarter. Covestor Ltd lifted its holdings in shares of UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank’s stock valued at $63,000 after purchasing an additional 124 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of UMB Financial by 38.1% during the first quarter. Fifth Third Bancorp now owns 624 shares of the bank’s stock valued at $63,000 after purchasing an additional 172 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new position in UMB Financial during the first quarter valued at $82,000. 87.78% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
UMBF has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their price target on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company upped their price target on UMB Financial from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, May 1st. Barclays dropped their price target on UMB Financial from $139.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen lowered UMB Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. Finally, Truist Financial initiated coverage on UMB Financial in a research report on Tuesday, May 13th. They set a “buy” rating and a $120.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $122.88.
Insiders Place Their Bets
In other news, CEO J Mariner Kemper sold 5,412 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the completion of the sale, the chief executive officer now owns 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 SEC, which can be accessed through this hyperlink. Insiders own 5.45% of the company’s stock.
UMB Financial Stock Performance
Shares of UMBF stock opened at $101.70 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. UMB Financial Corporation has a fifty-two week low of $79.88 and a fifty-two week high of $129.94. The stock’s 50-day moving average is $100.55 and its two-hundred day moving average is $106.50. The firm has a market cap of $7.72 billion, a P/E ratio of 12.79, a PEG ratio of 1.17 and a beta of 0.75.
UMB Financial (NASDAQ:UMBF – Get Free Report) last issued its 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. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The company had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. During the same period in the prior year, the firm posted $2.47 EPS. The business’s revenue was up 41.4% compared to the same quarter last year. Analysts predict that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.
UMB Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, June 10th. UMB Financial’s payout ratio is currently 20.13%.
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.
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