Louisiana State Employees Retirement System Makes New $2.33 Million Investment in UMB Financial Corporation $UMBF

Louisiana State Employees Retirement System purchased a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,700 shares of the bank’s stock, valued at approximately $2,335,000.

A number of other hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. lifted its stake in shares of UMB Financial by 636.7% during the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after buying an additional 1,286,543 shares during the period. Wellington Management Group LLP raised its stake in UMB Financial by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after acquiring an additional 751,525 shares during the last quarter. Norges Bank acquired a new stake in UMB Financial during the 4th quarter worth about $85,885,000. UMB Bank n.a. lifted its position in UMB Financial by 11.4% during the 4th quarter. UMB Bank n.a. now owns 4,809,824 shares of the bank’s stock worth $553,322,000 after acquiring an additional 493,875 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in UMB Financial by 1,148.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 422,065 shares of the bank’s stock valued at $48,554,000 after purchasing an additional 388,253 shares during the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Analyst Upgrades and Downgrades

UMBF has been the subject of several research analyst reports. Barclays raised their price objective on UMB Financial from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Morgan Stanley increased their price target on shares of UMB Financial from $143.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings raised shares of UMB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Royal Bank Of Canada lifted their price objective on shares of UMB Financial from $138.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Piper Sandler upped their price objective on shares of UMB Financial from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $148.09.

Insider Buying and Selling at UMB Financial

In other UMB Financial news, President James D. Rine sold 8,246 shares of UMB Financial stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $132.59, for a total value of $1,093,337.14. Following the completion of the transaction, the president owned 61,446 shares of the company’s stock, valued at approximately $8,147,125.14. The trade was a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gallagher sold 381 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $132.88, for a total transaction of $50,627.28. Following the completion of the transaction, the director owned 12,223 shares of the company’s stock, valued at approximately $1,624,192.24. This trade represents a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.33% of the company’s stock.

UMB Financial Stock Down 2.0%

Shares of UMBF opened at $141.98 on Tuesday. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.98 and a beta of 0.78. UMB Financial Corporation has a 52 week low of $103.07 and a 52 week high of $145.69. The stock’s 50-day moving average price is $130.57 and its 200-day moving average price is $123.61. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, April 28th. The bank reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.59. UMB Financial had a return on equity of 13.07% and a net margin of 20.42%.The company had revenue of $739.16 million during the quarter, compared to analysts’ expectations of $701.79 million. During the same period last year, the business earned $2.58 earnings per share. UMB Financial’s quarterly revenue was up 31.1% on a year-over-year basis. On average, sell-side analysts predict that UMB Financial Corporation will post 12.83 EPS for the current year.

UMB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, June 10th. UMB Financial’s payout ratio is currently 15.26%.

UMB Financial Company Profile

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.