State of New Jersey Common Pension Fund D raised its stake in shares of UMB Financial Co. (NASDAQ:UMBF – Get Rating) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,261 shares of the bank’s stock after acquiring an additional 1,345 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of UMB Financial worth $2,214,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of UMBF. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in UMB Financial by 10.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,797 shares of the bank’s stock valued at $1,535,000 after acquiring an additional 1,527 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of UMB Financial by 0.3% during the 1st quarter. BlackRock Inc. now owns 5,164,237 shares of the bank’s stock valued at $501,757,000 after purchasing an additional 16,698 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of UMB Financial by 7.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 23,436 shares of the bank’s stock valued at $2,339,000 after purchasing an additional 1,581 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of UMB Financial by 2.3% during the 1st quarter. Yousif Capital Management LLC now owns 23,530 shares of the bank’s stock valued at $2,286,000 after purchasing an additional 525 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of UMB Financial by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,062,319 shares of the bank’s stock valued at $103,218,000 after purchasing an additional 11,391 shares during the last quarter. Institutional investors own 87.42% of the company’s stock.
Insider Buying and Selling at UMB Financial
In other UMB Financial news, insider Shannon Andresen Johnson sold 834 shares of UMB Financial stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $80.85, for a total transaction of $67,428.90. Following the completion of the transaction, the insider now owns 12,562 shares in the company, valued at approximately $1,015,637.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO J Mariner Kemper sold 2,374 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $82.21, for a total transaction of $195,166.54. Following the sale, the chief executive officer now directly owns 212,024 shares in the company, valued at approximately $17,430,493.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shannon Andresen Johnson sold 834 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $80.85, for a total value of $67,428.90. Following the sale, the insider now owns 12,562 shares in the company, valued at $1,015,637.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,223 shares of company stock worth $424,330. Insiders own 9.77% of the company’s stock.
UMB Financial Stock Performance
UMB Financial (NASDAQ:UMBF – Get Rating) last issued its earnings results on Tuesday, October 25th. The bank reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.34). The firm had revenue of $368.66 million during the quarter, compared to analysts’ expectations of $372.77 million. UMB Financial had a return on equity of 14.86% and a net margin of 26.68%. As a group, research analysts expect that UMB Financial Co. will post 8.85 earnings per share for the current year.
UMB Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, December 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.78%. This is a positive change from UMB Financial’s previous quarterly dividend of $0.37. UMB Financial’s dividend payout ratio (DPR) is presently 18.05%.
Analyst Ratings Changes
Several analysts have recently commented on UMBF shares. Raymond James decreased their price objective on UMB Financial from $110.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, October 27th. Wells Fargo & Company decreased their price objective on UMB Financial from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, October 27th. StockNews.com started coverage on UMB Financial in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Piper Sandler decreased their price objective on UMB Financial to $92.00 in a report on Thursday, September 29th.
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. 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, accounts receivable financing, 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.
- Get a free copy of the StockNews.com research report on UMB Financial (UMBF)
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