Louisiana State Employees Retirement System Purchases New Position in UMB Financial Corporation $UMBF

Louisiana State Employees Retirement System acquired a new position in UMB Financial Corporation (NASDAQ:UMBF) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,700 shares of the bank’s stock, valued at approximately $2,335,000.

Other institutional investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of 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 buying an additional 102 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of UMB Financial by 3.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,910 shares of the bank’s stock worth $335,000 after buying an additional 108 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of UMB Financial by 1.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 6,424 shares of the bank’s stock valued at $739,000 after buying an additional 112 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of UMB Financial by 0.8% in the third quarter. Quadrant Capital Group LLC now owns 16,560 shares of the bank’s stock valued at $1,960,000 after acquiring an additional 129 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of UMB Financial by 3.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,908 shares of the bank’s stock valued at $450,000 after acquiring an additional 129 shares in the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President James D. Rine sold 8,246 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the sale, the president owned 61,446 shares of the company’s stock, valued at $8,147,125.14. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Charles Gallagher sold 381 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total value of $50,627.28. Following the transaction, the director owned 12,223 shares in the company, valued at approximately $1,624,192.24. This trade represents a 3.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on UMBF shares. Piper Sandler increased their target price on shares of UMB Financial from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank Of Canada boosted their price target on shares of UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Truist Financial set a $140.00 price objective on shares of UMB Financial in a research note on Friday, May 1st. Weiss Ratings raised shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, Barclays boosted their price objective on shares of UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $148.09.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $141.98 on Tuesday. The company has a market capitalization of $10.79 billion, a PE ratio of 12.60, a P/E/G ratio of 0.98 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50-day simple moving average of $130.57 and a two-hundred day simple moving average of $123.61. UMB Financial Corporation has a one year low of $103.07 and a one year high of $145.69.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 EPS for the quarter, beating the consensus estimate of $2.82 by $0.59. UMB Financial had a net margin of 20.42% and a return on equity of 13.07%. The business had revenue of $739.16 million during the quarter, compared to analyst estimates of $701.79 million. During the same period in the prior year, the firm posted $2.58 earnings per share. The company’s quarterly revenue was up 31.1% on a year-over-year basis. Research analysts expect that UMB Financial Corporation will post 12.83 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, June 10th. UMB Financial’s payout ratio is currently 15.26%.

UMB Financial Company 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.