UMB Financial Co. (NASDAQ:UMBF) Stock Holdings Raised by New York Life Investment Management LLC

Posted by Defense World Staff on Jun 4th, 2023

New York Life Investment Management LLC lifted its holdings in shares of UMB Financial Co. (NASDAQ:UMBF – Get Rating) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,825 shares of the bank’s stock after buying an additional 644 shares during the period. New York Life Investment Management LLC’s holdings in UMB Financial were worth $487,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. California Public Employees Retirement System grew its position in shares of UMB Financial by 3.9% during the 4th quarter. California Public Employees Retirement System now owns 108,211 shares of the bank’s stock valued at $9,038,000 after buying an additional 4,098 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of UMB Financial by 9.5% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 7,921 shares of the bank’s stock valued at $662,000 after buying an additional 690 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of UMB Financial by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,084,657 shares of the bank’s stock valued at $91,428,000 after buying an additional 10,651 shares during the last quarter. Keybank National Association OH grew its position in shares of UMB Financial by 2.1% during the 4th quarter. Keybank National Association OH now owns 8,815 shares of the bank’s stock valued at $736,000 after buying an additional 185 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of UMB Financial by 1.7% during the 4th quarter. Swiss National Bank now owns 110,800 shares of the bank’s stock valued at $9,254,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 87.42% of the company’s stock.

UMB Financial Trading Up 8.2 %

UMB Financial stock opened at $63.60 on Friday. The firm has a 50 day simple moving average of $58.45 and a 200-day simple moving average of $74.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $3.09 billion, a PE ratio of 7.40 and a beta of 0.77. UMB Financial Co. has a 12-month low of $50.68 and a 12-month high of $99.19.

UMB Financial (NASDAQ:UMBF – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The bank reported $1.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.91. The business had revenue of $371.90 million during the quarter, compared to analysts’ expectations of $371.44 million. UMB Financial had a net margin of 22.22% and a return on equity of 15.73%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $2.17 earnings per share. As a group, equities research analysts expect that UMB Financial Co. will post 7.64 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Friday, June 9th. UMB Financial’s payout ratio is 17.67%.

Wall Street Analysts Forecast Growth

UMBF has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of UMB Financial from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods dropped their price target on shares of UMB Financial from $90.00 to $74.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. StockNews.com started coverage on shares of UMB Financial in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Raymond James raised their price target on shares of UMB Financial from $73.00 to $77.00 in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.80.

Insider Buying and Selling

In other UMB Financial news, Director Kris A. Robbins bought 500 shares of UMB Financial stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $57.12 per share, for a total transaction of $28,560.00. Following the completion of the acquisition, the director now owns 2,910 shares of the company’s stock, valued at approximately $166,219.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.77% of the stock is currently owned by insiders.

UMB Financial Company Profile

(Get Rating)

UMB Financial Corp. engages in the provision of bank and asset services. It operates through the following segments: Commercial Banking, Institutional Banking, and Personal Banking. The Commercial Banking segment serves the commercial lending and leasing, capital markets, and treasury management needs of the company’s mid-market businesses and governmental entities by offering various products and services.

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Institutional Ownership by Quarter for UMB Financial (NASDAQ:UMBF)

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