Retirement Systems of Alabama trimmed its position in shares of UMB Financial Co. (NASDAQ:UMBF – Free Report) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,821 shares of the bank’s stock after selling 488 shares during the period. Retirement Systems of Alabama owned 0.12% of UMB Financial worth $3,280,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the company. California Public Employees Retirement System increased its holdings in UMB Financial by 3.9% in the 4th quarter. California Public Employees Retirement System now owns 108,211 shares of the bank’s stock worth $9,038,000 after acquiring an additional 4,098 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of UMB Financial by 9.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 7,921 shares of the bank’s stock valued at $662,000 after purchasing an additional 690 shares during the period. Keybank National Association OH lifted its stake 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 in the last quarter. Swiss National Bank boosted its holdings in UMB Financial by 1.7% in the 4th quarter. Swiss National Bank now owns 110,800 shares of the bank’s stock worth $9,254,000 after buying an additional 1,800 shares during the period. Finally, Versor Investments LP purchased a new position in UMB Financial in the 4th quarter valued at approximately $618,000. 86.52% of the stock is owned by hedge funds and other institutional investors.
UMB Financial Trading Down 3.3 %
Shares of UMB Financial stock opened at $70.16 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.71 and a quick ratio of 0.69. UMB Financial Co. has a 1 year low of $50.68 and a 1 year high of $99.19. The firm has a market cap of $3.40 billion, a PE ratio of 9.21 and a beta of 0.79. The company has a 50 day simple moving average of $62.82 and a two-hundred day simple moving average of $69.44.
UMB Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, September 8th. UMB Financial’s payout ratio is currently 19.95%.
Insiders Place Their Bets
In other UMB Financial news, Director Janine Davidson purchased 500 shares of the stock in a transaction on Thursday, May 4th. The stock was acquired at an average cost of $53.56 per share, with a total value of $26,780.00. Following the completion of the purchase, the director now directly owns 2,572 shares of the company’s stock, valued at approximately $137,756.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.77% of the company’s stock.
Analyst Upgrades and Downgrades
UMBF has been the subject of a number of analyst reports. Piper Sandler raised their price target on UMB Financial from $66.00 to $74.00 in a report on Thursday. Keefe, Bruyette & Woods reduced their target price on UMB Financial from $90.00 to $74.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. StockNews.com initiated coverage on shares of UMB Financial in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Raymond James boosted their price objective on shares of UMB Financial from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of UMB Financial from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $81.80.
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, 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.
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