8,817 Shares in UMB Financial Corporation $UMBF Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

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

Several other large investors have also recently added to or reduced their stakes in UMBF. Brooklyn Investment Group lifted its position in UMB Financial by 4,840.0% during the first quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after buying an additional 242 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in UMB Financial during the first quarter worth about $27,000. McIlrath & Eck LLC acquired a new stake in UMB Financial during the first quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in UMB Financial during the first quarter worth about $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in UMB Financial by 143.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock worth $37,000 after acquiring an additional 213 shares during the last quarter. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other UMB Financial news, insider Phillip James Mason sold 750 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $120.97, for a total transaction of $90,727.50. Following the completion of the sale, the insider owned 8,815 shares in the company, valued at $1,066,350.55. This trade represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shannon Andresen Johnson sold 1,367 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total value of $164,832.86. Following the sale, the insider owned 34,124 shares of the company’s stock, valued at approximately $4,114,671.92. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. Company insiders own 5.45% of the company’s stock.

UMB Financial Price Performance

UMBF 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. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $129.94. The firm has a market cap of $8.44 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The stock has a 50-day simple moving average of $118.67 and a 200-day simple moving average of $108.75.

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

UMB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, September 10th. UMB Financial’s dividend payout ratio (DPR) is 18.39%.

Analysts Set New Price Targets

Several brokerages have commented on UMBF. Hovde Group began coverage on UMB Financial in a research note on Monday, October 6th. They set an “outperform” rating for the company. Cowen began coverage on UMB Financial in a research note on Wednesday, September 24th. They set a “buy” rating for the company. TD Cowen began coverage on UMB Financial in a research note on Thursday, September 25th. They set a “buy” rating and a $151.00 price target 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. Finally, Wells Fargo & Company upped their price target on UMB Financial from $125.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.00.

UMB Financial Company 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.