UMB Financial Corporation $UMBF Shares Bought by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lifted its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 13.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,478 shares of the bank’s stock after buying an additional 1,955 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in UMB Financial were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group grew its position in UMB Financial by 4,840.0% in the first quarter. Brooklyn Investment Group now owns 247 shares of the bank’s stock worth $25,000 after acquiring an additional 242 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in UMB Financial in the first quarter valued at $27,000. McIlrath & Eck LLC acquired a new position in shares of UMB Financial in the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of UMB Financial during the 1st quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of UMB Financial by 143.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank’s stock worth $37,000 after purchasing an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Insider Activity at UMB Financial

In related news, insider Shannon Andresen Johnson sold 1,367 shares of the company’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 transaction of $164,832.86. Following the sale, the insider directly owned 34,124 shares in the company, valued at approximately $4,114,671.92. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg M. Graves bought 264 shares of UMB Financial stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $106.41 per share, for a total transaction of $28,092.24. Following the acquisition, 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 disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 683 shares of company stock worth $75,961 and have sold 4,377 shares worth $505,414. Company insiders own 5.45% of the company’s stock.

UMB Financial Trading Up 0.3%

Shares of UMBF stock opened at $104.37 on Friday. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. The company has a 50 day moving average price of $113.63 and a 200 day moving average price of $110.60. The stock has a market capitalization of $7.93 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.77 and a current ratio of 0.75.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, October 28th. The bank reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.22. UMB Financial had a net margin of 16.01% and a return on equity of 12.15%. The company had revenue of $678.34 million for the quarter, compared to analyst estimates of $661.60 million. During the same period in the prior year, the business earned $2.25 EPS. The firm’s quarterly revenue was up 67.0% on a year-over-year basis. Equities research analysts predict that UMB Financial Corporation will post 9.66 EPS 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. Investors of record on Wednesday, December 10th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.40. UMB Financial’s payout ratio is presently 19.48%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of UMB Financial from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Hovde Group started coverage on shares of UMB Financial in a research note on Monday, October 6th. They issued an “outperform” rating on the stock. Truist Financial upped their price objective on shares of UMB Financial from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Morgan Stanley increased their price objective on shares of UMB Financial from $120.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of UMB Financial in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.20.

UMB Financial 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.