Retirement Systems of Alabama Increases Stock Position in UMB Financial Co. (NASDAQ:UMBF)

Retirement Systems of Alabama raised its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,995 shares of the bank’s stock after purchasing an additional 109 shares during the period. Retirement Systems of Alabama owned approximately 0.11% of UMB Financial worth $6,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of UMBF. Principal Financial Group Inc. grew its position in UMB Financial by 403.7% during the third quarter. Principal Financial Group Inc. now owns 866,848 shares of the bank’s stock valued at $91,114,000 after buying an additional 694,751 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of UMB Financial during the 3rd quarter worth $48,531,000. Captrust Financial Advisors boosted its stake in shares of UMB Financial by 258.0% during the 3rd quarter. Captrust Financial Advisors now owns 392,397 shares of the bank’s stock worth $41,245,000 after acquiring an additional 282,783 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of UMB Financial by 438.8% in the 3rd quarter. Systematic Financial Management LP now owns 320,550 shares of the bank’s stock worth $33,693,000 after purchasing an additional 261,055 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of UMB Financial in the 3rd quarter worth $18,838,000. Institutional investors own 87.78% of the company’s stock.

Insider Transactions at UMB Financial

In other news, Director Kevin Charles Gallagher sold 527 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $114.13, for a total value of $60,146.51. Following the completion of the sale, the director now owns 13,010 shares of the company’s stock, valued at $1,484,831.30. This represents a 3.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Brian Beaird sold 854 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $123.38, for a total value of $105,366.52. Following the completion of the transaction, the insider now owns 5,828 shares of the company’s stock, valued at $719,058.64. The trade was a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,681 shares of company stock valued at $3,201,798 over the last 90 days. 8.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

UMBF has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of UMB Financial from $142.00 to $143.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Morgan Stanley assumed coverage on UMB Financial in a report on Thursday, November 21st. They set an “overweight” rating and a $156.00 price target on the stock. Wells Fargo & Company upped their price objective on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Barclays lifted their target price on UMB Financial from $123.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $128.00 price objective on shares of UMB Financial in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.14.

UMB Financial Stock Performance

Shares of UMBF stock opened at $114.11 on Monday. UMB Financial Co. has a 52-week low of $76.00 and a 52-week high of $129.94. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.57 billion, a PE ratio of 12.69 and a beta of 0.82. The business has a 50-day simple moving average of $117.80 and a 200-day simple moving average of $110.60.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.24. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. During the same period in the previous year, the business earned $2.29 earnings per share. On average, equities analysts expect that UMB Financial Co. will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.60 annualized dividend and a yield of 1.40%. UMB Financial’s dividend payout ratio (DPR) is presently 17.80%.

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.