VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $927,000 Investment in UMB Financial Corporation $UMBF

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in UMB Financial Corporation (NASDAQ:UMBF) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,817 shares of the bank’s stock, valued at approximately $927,000.

Several other large investors have also made changes to their positions in UMBF. Vanguard Group Inc. raised its stake in shares of UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock worth $741,342,000 after buying an additional 2,570,283 shares during the period. Earnest Partners LLC purchased a new position in shares of UMB Financial during the 1st quarter worth $144,351,000. Dimensional Fund Advisors LP grew its holdings in shares of UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock worth $273,029,000 after purchasing an additional 1,185,671 shares during the period. Nuveen LLC purchased a new position in shares of UMB Financial during the 1st quarter worth $51,324,000. Finally, Wellington Management Group LLP boosted its holdings in UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock valued at $243,359,000 after acquiring an additional 385,830 shares during the period. 87.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other UMB Financial news, Director Greg M. Graves bought 234 shares of UMB Financial stock in a transaction that occurred on Tuesday, September 2nd. The shares were purchased at an average cost of $120.44 per share, for a total transaction of $28,182.96. Following the completion of the transaction, the director owned 38,034 shares of the company’s stock, valued at $4,580,814.96. This represents a 0.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stacy H. King sold 1,500 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $118.88, for a total value of $178,320.00. Following the transaction, the insider owned 9,472 shares in the company, valued at $1,126,031.36. This trade represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. Insiders own 5.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays set a $155.00 target price on UMB Financial and gave the company an “overweight” rating in a report on Wednesday, October 8th. Wells Fargo & Company raised their target price on UMB Financial from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Truist Financial raised their target price on UMB Financial from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Royal Bank Of Canada lifted their price target on UMB Financial from $122.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Finally, Raymond James Financial lifted their price target on UMB Financial from $135.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.00.

UMB Financial Stock Down 0.2%

UMB Financial stock opened at $111.17 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The stock’s fifty day moving average is $118.67 and its two-hundred day moving average is $108.75.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.61. The company had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.UMB Financial’s revenue was up 76.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 earnings per share. Analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, September 10th. UMB Financial’s dividend payout ratio is currently 18.39%.

About UMB Financial

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.