Texas Permanent School Fund Corp Grows Stock Position in UMB Financial Corporation $UMBF

Texas Permanent School Fund Corp boosted its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 25.5% in the 2nd quarter, according to its most recent disclosure with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Truist Financial Corp lifted its holdings in shares of UMB Financial by 0.5% in the 2nd quarter. Truist Financial Corp now owns 20,426 shares of the bank’s stock worth $2,148,000 after acquiring an additional 97 shares during the last quarter. MAI Capital Management lifted its stake in UMB Financial by 14.7% in the first quarter. MAI Capital Management now owns 771 shares of the bank’s stock worth $78,000 after purchasing an additional 99 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of UMB Financial by 0.4% during the second quarter. OLD National Bancorp IN now owns 22,834 shares of the bank’s stock valued at $2,401,000 after buying an additional 100 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of UMB Financial by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 9,298 shares of the bank’s stock valued at $978,000 after buying an additional 153 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of UMB Financial by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,931 shares of the bank’s stock worth $624,000 after buying an additional 170 shares during the period. Institutional investors own 87.78% of the company’s stock.

Insider Buying and Selling

In related news, CEO J Mariner Kemper sold 15,367 shares of the company’s 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 sale, the chief executive officer directly owned 1,521,414 shares in the company, valued at $174,323,616.12. This represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Greg M. Graves acquired 264 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average cost of $106.41 per share, for a total transaction of $28,092.24. Following the transaction, the director owned 38,411 shares of the company’s stock, valued at $4,087,314.51. This represents a 0.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 17,127 shares of company stock valued at $1,949,594. 5.45% of the stock is owned by insiders.

UMB Financial Stock Down 0.7%

Shares of UMB Financial stock opened at $118.95 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.75 and a quick ratio of 0.75. The stock 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. The firm’s 50-day moving average is $111.82 and its two-hundred day moving average is $112.12. UMB Financial Corporation has a 1 year low of $82.00 and a 1 year high of $126.14.

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

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.43 per share. 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. This represents a $1.72 annualized dividend and a yield of 1.4%. UMB Financial’s payout ratio is 19.48%.

Analyst Ratings Changes

A number of brokerages recently issued reports on UMBF. Raymond James Financial reissued a “strong-buy” rating and set a $135.00 price target (down from $138.00) on shares of UMB Financial in a research note on Thursday, October 30th. Piper Sandler reissued an “overweight” rating and set a $145.00 target price (down from $148.00) on shares of UMB Financial in a research note on Thursday, October 30th. Royal Bank Of Canada raised shares of UMB Financial from a “sector perform” rating to an “outperform” rating and set a $128.00 price target on the stock in a research note on Thursday, November 6th. Morgan Stanley boosted their price objective on shares of UMB Financial from $120.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Barclays set a $155.00 target price on shares of UMB Financial and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.20.

UMB Financial 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.