Retirement Systems of Alabama Purchases 1,225 Shares of UMB Financial Corp (UMBF)

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Retirement Systems of Alabama raised its position in UMB Financial Corp (NASDAQ:UMBF) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,265 shares of the bank’s stock after acquiring an additional 1,225 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of UMB Financial worth $4,131,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in UMB Financial by 2.7% in the second quarter. Arizona State Retirement System now owns 30,583 shares of the bank’s stock valued at $2,331,000 after acquiring an additional 798 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in UMB Financial by 13.1% in the third quarter. Xact Kapitalforvaltning AB now owns 6,930 shares of the bank’s stock valued at $491,000 after acquiring an additional 800 shares during the period. Meadow Creek Investment Management LLC lifted its holdings in UMB Financial by 16.1% in the second quarter. Meadow Creek Investment Management LLC now owns 6,272 shares of the bank’s stock valued at $478,000 after acquiring an additional 868 shares during the period. Mutual of America Capital Management LLC lifted its holdings in UMB Financial by 1.2% in the second quarter. Mutual of America Capital Management LLC now owns 86,696 shares of the bank’s stock valued at $6,609,000 after acquiring an additional 1,009 shares during the period. Finally, Glen Harbor Capital Management LLC lifted its holdings in UMB Financial by 16.1% in the second quarter. Glen Harbor Capital Management LLC now owns 7,616 shares of the bank’s stock valued at $581,000 after acquiring an additional 1,054 shares during the period. 86.98% of the stock is currently owned by institutional investors.

Shares of UMBF opened at $65.19 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.76 and a beta of 0.89. UMB Financial Corp has a 52 week low of $57.00 and a 52 week high of $82.14.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The business had revenue of $251.38 million during the quarter, compared to analysts’ expectations of $260.02 million. UMB Financial had a return on equity of 10.22% and a net margin of 25.52%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, research analysts anticipate that UMB Financial Corp will post 4.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be given a $0.30 dividend. This is a boost from UMB Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, December 7th. This represents a $1.20 dividend on an annualized basis and a yield of 1.84%. UMB Financial’s dividend payout ratio is presently 30.93%.

A number of research firms have weighed in on UMBF. Zacks Investment Research raised UMB Financial from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Raymond James set a $69.00 target price on UMB Financial and gave the company a “buy” rating in a report on Thursday, October 25th. BidaskClub downgraded UMB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Stephens reissued a “hold” rating and issued a $80.00 target price on shares of UMB Financial in a report on Wednesday, October 24th. Finally, Wells Fargo & Co set a $70.00 target price on UMB Financial and gave the company a “hold” rating in a report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $77.00.

In other UMB Financial news, EVP Dana H. Abraham sold 4,196 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $76.18, for a total value of $319,651.28. Following the completion of the sale, the executive vice president now owns 15,141 shares in the company, valued at $1,153,441.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider J Walker Brian sold 500 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $75.75, for a total value of $37,875.00. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,363 shares of company stock valued at $97,997 and sold 36,221 shares valued at $2,702,312. Corporate insiders own 10.26% of the company’s stock.

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UMB Financial Company Profile

UMB Financial Corporation, a bank holding company, provides various banking and other financial services. It operates through two segments, Bank and Asset Servicing. The Bank segment offers a range of banking services to commercial, retail, government, and correspondent bank customers through its branches, call center, Internet banking, and ATM network.

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Institutional Ownership by Quarter for UMB Financial (NASDAQ:UMBF)

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