Texas Permanent School Fund Corp Acquires 5,698 Shares of UMB Financial Corporation $UMBF

Texas Permanent School Fund Corp boosted its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 25.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,033 shares of the bank’s stock after buying an additional 5,698 shares during the quarter. Texas Permanent School Fund Corp’s holdings in UMB Financial were worth $2,948,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in UMB Financial by 7.9% in the second quarter. State Street Corp now owns 4,296,190 shares of the bank’s stock worth $453,461,000 after buying an additional 313,414 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of UMB Financial by 3.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,976,030 shares of the bank’s stock valued at $213,688,000 after acquiring an additional 63,147 shares during the period. Geode Capital Management LLC increased its holdings in UMB Financial by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,846,252 shares of the bank’s stock worth $194,173,000 after acquiring an additional 119,319 shares in the last quarter. Alliancebernstein L.P. raised its stake in UMB Financial by 636.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after acquiring an additional 1,286,543 shares during the period. Finally, Earnest Partners LLC purchased a new position in UMB Financial during the first quarter valued at approximately $144,351,000. Institutional investors own 87.78% of the company’s stock.

Insider Buying and Selling at UMB Financial

In related news, insider Nikki Farentino Newton sold 1,300 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $106.09, for a total transaction of $137,917.00. Following the sale, the insider owned 13,667 shares of the company’s stock, valued at $1,449,932.03. This represents a 8.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 15,367 shares of UMB Financial stock in a transaction on Monday, December 8th. The stock was sold at an average price of $114.58, for a total transaction of $1,760,750.86. Following the completion of the transaction, the chief executive officer directly owned 1,521,414 shares of the company’s stock, valued at $174,323,616.12. The trade was a 1.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,127 shares of company stock worth $1,949,594. Company insiders own 5.45% of the company’s stock.

UMB Financial Trading Down 0.7%

Shares of UMB Financial stock opened at $118.95 on Friday. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $126.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $111.82 and a 200-day moving average price of $112.12. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.20 and a beta of 0.78.

UMB Financial (NASDAQ:UMBF) last posted its earnings results on Tuesday, October 28th. The bank reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. The company had revenue of $678.34 million for the quarter, compared to the consensus estimate of $661.60 million. UMB Financial had a return on equity of 12.15% and a net margin of 16.01%.The firm’s revenue for the quarter was up 67.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.25 earnings per share. Equities research analysts anticipate that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Wednesday, December 10th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from UMB Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, December 10th. UMB Financial’s payout ratio is 19.48%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Cowen began coverage on shares of UMB Financial in a research note on Wednesday, September 24th. They issued a “buy” rating for the company. Barclays set a $155.00 price target on UMB Financial and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $135.00 price objective (down previously from $138.00) on shares of UMB Financial in a research note on Thursday, October 30th. Finally, Weiss Ratings raised UMB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, UMB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

About UMB Financial

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial services holding company headquartered in Kansas City, Missouri. Through its principal banking subsidiary, UMB Bank, N.A., the company provides a full suite of commercial and consumer banking services. Key offerings include deposit accounts, commercial and consumer lending, treasury and cash management, as well as online and mobile banking solutions designed to serve businesses, individuals and municipalities.

In addition to its core banking operations, UMB Financial delivers wealth management and trust services, investment advisory, asset management and retirement planning to high-net-worth individuals, families and institutions.