UMB Financial Co. (NASDAQ:UMBF) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in UMB Financial Co. (NASDAQ:UMBF) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 35,381 shares of the bank’s stock after selling 3,982 shares during the period. State of New Jersey Common Pension Fund D’s holdings in UMB Financial were worth $2,956,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Atria Wealth Solutions Inc. grew its holdings in shares of UMB Financial by 58.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 5,438 shares of the bank’s stock worth $456,000 after acquiring an additional 1,996 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of UMB Financial in the 4th quarter worth $470,000. New York State Common Retirement Fund grew its holdings in shares of UMB Financial by 1.8% in the 4th quarter. New York State Common Retirement Fund now owns 18,085 shares of the bank’s stock worth $1,511,000 after acquiring an additional 323 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of UMB Financial in the 4th quarter worth $236,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of UMB Financial by 7.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,013 shares of the bank’s stock worth $837,000 after acquiring an additional 730 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UMB Financial

In other UMB Financial news, CEO J Mariner Kemper sold 11,170 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $85.28, for a total value of $952,577.60. Following the completion of the sale, the chief executive officer now owns 1,738,604 shares of the company’s stock, valued at $148,268,149.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other UMB Financial news, insider Abigail M. Wendel sold 1,182 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $80.70, for a total value of $95,387.40. Following the completion of the sale, the insider now owns 15,217 shares of the company’s stock, valued at $1,228,011.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Mariner Kemper sold 11,170 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $85.28, for a total value of $952,577.60. Following the completion of the sale, the chief executive officer now directly owns 1,738,604 shares of the company’s stock, valued at approximately $148,268,149.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,277 shares of company stock valued at $2,264,661. Insiders own 8.85% of the company’s stock.

Analysts Set New Price Targets

UMBF has been the topic of a number of recent research reports. StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a report on Saturday, March 16th. Barclays started coverage on UMB Financial in a research report on Friday, March 8th. They issued an “equal weight” rating and a $91.00 target price for the company. Wells Fargo & Company raised their target price on UMB Financial from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Raymond James raised their target price on UMB Financial from $80.00 to $102.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. Finally, Piper Sandler raised their target price on UMB Financial from $87.50 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, UMB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

UMB Financial Price Performance

UMBF opened at $83.17 on Monday. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 11.58 and a beta of 0.83. UMB Financial Co. has a 1 year low of $50.68 and a 1 year high of $87.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $81.92 and a 200 day moving average price of $77.72.

UMB Financial (NASDAQ:UMBF) last released its quarterly earnings data on Wednesday, January 31st. The bank reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.53. The firm had revenue of $370.80 million during the quarter, compared to analysts’ expectations of $360.69 million. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $2.06 earnings per share. Analysts forecast that UMB Financial Co. will post 7.41 EPS for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.56 dividend on an annualized basis and a yield of 1.88%. UMB Financial’s payout ratio is 21.73%.

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.