California State Teachers Retirement System cut its position in shares of UMB Financial Corp (NASDAQ:UMBF) by 2.2% during the 1st quarter, HoldingsChannel reports. The firm owned 69,427 shares of the bank’s stock after selling 1,544 shares during the period. California State Teachers Retirement System’s holdings in UMB Financial were worth $4,446,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its holdings in UMB Financial by 5.9% in the fourth quarter. Advisor Group Inc. now owns 3,432 shares of the bank’s stock worth $210,000 after acquiring an additional 192 shares in the last quarter. Creative Planning boosted its holdings in UMB Financial by 1.8% in the first quarter. Creative Planning now owns 16,117 shares of the bank’s stock worth $1,032,000 after acquiring an additional 288 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in UMB Financial by 2.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,848 shares of the bank’s stock worth $1,088,000 after acquiring an additional 375 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in UMB Financial by 1,700.0% in the first quarter. Quadrant Capital Group LLC now owns 468 shares of the bank’s stock worth $29,000 after acquiring an additional 442 shares in the last quarter. Finally, Comerica Bank boosted its holdings in UMB Financial by 1.7% in the fourth quarter. Comerica Bank now owns 29,361 shares of the bank’s stock worth $2,004,000 after acquiring an additional 479 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.
Several research firms have commented on UMBF. BidaskClub downgraded UMB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 5th. Zacks Investment Research raised UMB Financial from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Friday, May 31st. Stephens set a $74.00 target price on UMB Financial and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Raymond James boosted their target price on UMB Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. UMB Financial has an average rating of “Hold” and an average target price of $70.25.
UMBF stock opened at $63.45 on Friday. UMB Financial Corp has a 1-year low of $57.00 and a 1-year high of $82.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $3.11 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.76 and a beta of 0.95.
UMB Financial (NASDAQ:UMBF) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. UMB Financial had a return on equity of 8.90% and a net margin of 16.66%. The firm had revenue of $271.30 million during the quarter, compared to analysts’ expectations of $262.18 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that UMB Financial Corp will post 4.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, June 7th. UMB Financial’s dividend payout ratio is currently 29.78%.
In other news, EVP James Cornelius sold 800 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $69.38, for a total value of $55,504.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman J Mariner Kemper sold 5,800 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $71.23, for a total value of $413,134.00. Following the completion of the transaction, the chairman now owns 188,711 shares of the company’s stock, valued at approximately $13,441,884.53. The disclosure for this sale can be found here. Insiders sold 13,599 shares of company stock valued at $961,167 in the last 90 days. Company insiders own 10.45% of the company’s stock.
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UMB Financial Company Profile
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. It operates through four segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. The Commercial Banking segment provides commercial loans, commercial credit cards, letters of credit, loan syndication services, consultative services, and various financial options; capital markets services, including asset-based financing, asset securitization, equity and mezzanine financing, factoring, and private and public placement of senior debt, as well as merger and acquisition consulting; and depository, account reconciliation, electronic fund transfer, controlled disbursements, lockbox, and remote deposit capture services.
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