Texas Permanent School Fund Corp Increases Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Texas Permanent School Fund Corp increased its stake in shares of UMB Financial Co. (NASDAQ:UMBF) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,226 shares of the bank’s stock after purchasing an additional 510 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of UMB Financial worth $3,325,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its stake in UMB Financial by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 54,848 shares of the bank’s stock valued at $4,771,000 after buying an additional 144 shares during the last quarter. US Bancorp DE boosted its position in UMB Financial by 1.4% in the fourth quarter. US Bancorp DE now owns 12,358 shares of the bank’s stock worth $1,033,000 after purchasing an additional 169 shares during the last quarter. AlphaMark Advisors LLC grew its stake in shares of UMB Financial by 5.1% during the 4th quarter. AlphaMark Advisors LLC now owns 3,964 shares of the bank’s stock valued at $331,000 after purchasing an additional 194 shares during the period. Comerica Bank increased its position in shares of UMB Financial by 1.2% during the 4th quarter. Comerica Bank now owns 18,816 shares of the bank’s stock valued at $1,572,000 after purchasing an additional 224 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of UMB Financial by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the bank’s stock worth $1,096,000 after purchasing an additional 300 shares during the period. Institutional investors own 87.78% of the company’s stock.

UMB Financial Trading Up 0.9 %

Shares of UMBF stock opened at $89.85 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a fifty day simple moving average of $82.49 and a two-hundred day simple moving average of $81.92. The firm has a market capitalization of $4.38 billion, a PE ratio of 11.93 and a beta of 0.80. UMB Financial Co. has a 52-week low of $57.91 and a 52-week high of $90.65.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings data on Monday, April 29th. The bank reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.62. UMB Financial had a net margin of 14.59% and a return on equity of 14.30%. The business had revenue of $405.19 million during the quarter, compared to analyst estimates of $369.80 million. On average, analysts predict that UMB Financial Co. will post 8.41 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 10th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Monday, June 10th. UMB Financial’s dividend payout ratio (DPR) is presently 20.72%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on UMBF. Barclays boosted their target price on shares of UMB Financial from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Keefe, Bruyette & Woods upgraded UMB Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $93.00 to $98.00 in a research note on Friday, May 31st. Finally, Wells Fargo & Company raised their target price on UMB Financial from $88.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, UMB Financial presently has an average rating of “Moderate Buy” and an average price target of $93.67.

Insider Activity

In other news, CEO J Mariner Kemper sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $83.86, for a total transaction of $176,106.00. Following the sale, the chief executive officer now directly owns 1,714,304 shares of the company’s stock, valued at approximately $143,761,533.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 22,952 shares of company stock worth $1,909,242 over the last 90 days. Corporate 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.