Louisiana State Employees Retirement System Takes Position in UMB Financial Co. (NASDAQ:UMBF)

Louisiana State Employees Retirement System acquired a new position in shares of UMB Financial Co. (NASDAQ:UMBF) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 12,300 shares of the bank’s stock, valued at approximately $1,028,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its position in UMB Financial by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,842,050 shares of the bank’s stock worth $153,903,000 after purchasing an additional 23,689 shares in the last quarter. Nisa Investment Advisors LLC increased its position in UMB Financial by 4.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,440 shares of the bank’s stock worth $1,541,000 after purchasing an additional 825 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in UMB Financial by 3.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,244 shares of the bank’s stock worth $1,691,000 after purchasing an additional 678 shares in the last quarter. Boston Trust Walden Corp increased its position in UMB Financial by 0.7% during the 4th quarter. Boston Trust Walden Corp now owns 688,687 shares of the bank’s stock worth $57,540,000 after purchasing an additional 4,677 shares in the last quarter. Finally, Trust Point Inc. acquired a new position in UMB Financial during the 4th quarter worth approximately $460,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of UMB Financial from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Piper Sandler upped their price target on shares of UMB Financial from $87.50 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Raymond James upped their price target on shares of UMB Financial from $80.00 to $102.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 1st. StockNews.com upgraded shares of UMB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. Finally, Barclays started coverage on shares of UMB Financial in a research report on Friday, March 8th. They issued an “equal weight” rating and a $91.00 price target for the company. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, UMB Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

UMB Financial Stock Up 1.2 %

Shares of NASDAQ UMBF opened at $84.78 on Thursday. The firm has a market cap of $4.13 billion, a PE ratio of 11.81 and a beta of 0.83. UMB Financial Co. has a 12-month low of $50.68 and a 12-month high of $87.36. The company’s fifty day simple moving average is $81.86 and its 200 day simple moving average is $77.32. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.12.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Wednesday, January 31st. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.53. The business had revenue of $370.80 million for the quarter, compared to analyst estimates of $360.69 million. UMB Financial had a net margin of 14.70% and a return on equity of 13.75%. UMB Financial’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 earnings per share. As a group, sell-side analysts forecast that UMB Financial Co. will post 7.29 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.56 annualized dividend and a yield of 1.84%. UMB Financial’s payout ratio is 21.73%.

Insiders Place Their Bets

In other UMB Financial news, insider Abigail M. Wendel sold 1,182 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $80.70, for a total transaction of $95,387.40. Following the transaction, the insider now owns 15,217 shares in the company, valued at $1,228,011.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO J Mariner Kemper sold 3,500 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $83.10, for a total value of $290,850.00. Following the completion of the sale, the chief executive officer now owns 252,114 shares in the company, valued at $20,950,673.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Abigail M. Wendel sold 1,182 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.70, for a total transaction of $95,387.40. Following the completion of the sale, the insider now owns 15,217 shares of the company’s stock, valued at approximately $1,228,011.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,277 shares of company stock worth $2,264,661. Insiders own 8.85% of the company’s stock.

UMB Financial Profile

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.