Louisiana State Employees Retirement System Has $2.11 Million Stake in UMB Financial Corporation $UMBF

Louisiana State Employees Retirement System grew its position in UMB Financial Corporation (NASDAQ:UMBF) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,100 shares of the bank’s stock after purchasing an additional 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in UMB Financial were worth $2,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in UMBF. Yousif Capital Management LLC grew its position in shares of UMB Financial by 49.4% in the first quarter. Yousif Capital Management LLC now owns 23,283 shares of the bank’s stock valued at $2,354,000 after purchasing an additional 7,694 shares during the last quarter. GAMMA Investing LLC grew its position in UMB Financial by 121.9% during the first quarter. GAMMA Investing LLC now owns 921 shares of the bank’s stock worth $93,000 after buying an additional 506 shares in the last quarter. Handelsbanken Fonder AB grew its position in UMB Financial by 34.4% during the first quarter. Handelsbanken Fonder AB now owns 14,690 shares of the bank’s stock worth $1,485,000 after buying an additional 3,760 shares in the last quarter. Assenagon Asset Management S.A. grew its position in UMB Financial by 93.2% during the first quarter. Assenagon Asset Management S.A. now owns 24,705 shares of the bank’s stock worth $2,498,000 after buying an additional 11,916 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in UMB Financial by 38.1% during the first quarter. Fifth Third Bancorp now owns 624 shares of the bank’s stock worth $63,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price target on UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Hovde Group assumed coverage on UMB Financial in a research report on Monday, October 6th. They set an “outperform” rating on the stock. Truist Financial increased their price target on UMB Financial from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Raymond James Financial increased 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. Finally, Wells Fargo & Company upped their target price 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

Insider Buying and Selling

In other news, insider Stacy H. King sold 1,500 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $118.88, for a total value of $178,320.00. Following the completion of the transaction, the insider directly owned 9,472 shares in the company, valued at approximately $1,126,031.36. This represents a 13.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Mariner Kemper sold 15,523 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $116.33, for a total value of $1,805,790.59. Following the completion of the transaction, the chief executive officer owned 1,536,781 shares of the company’s stock, valued at $178,773,733.73. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 678 shares of company stock worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is currently owned by insiders.

UMB Financial Stock Down 4.8%

NASDAQ UMBF opened at $113.02 on Friday. The business has a fifty day moving average price of $118.57 and a two-hundred day moving average price of $107.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The stock has a market capitalization of $8.58 billion, a PE ratio of 12.99, a PEG ratio of 1.33 and a beta of 0.73.

UMB Financial (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 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 company had revenue of $689.21 million during the quarter, compared to analysts’ expectations of $638.25 million. During the same period in the prior year, the company earned $2.16 EPS. UMB Financial’s revenue was up 76.7% compared to the same quarter last year. Equities analysts expect that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

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