California State Teachers Retirement System Boosts Holdings in UMB Financial Corporation $UMBF

California State Teachers Retirement System lifted its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 13,612.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,954,437 shares of the bank’s stock after purchasing an additional 11,867,259 shares during the period. California State Teachers Retirement System owned about 0.16% of UMB Financial worth $1,706,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of UMB Financial during the second quarter valued at approximately $1,458,386,000. Alliancebernstein L.P. boosted its stake in shares of UMB Financial by 636.7% in the second quarter. Alliancebernstein L.P. now owns 1,488,618 shares of the bank’s stock worth $156,543,000 after acquiring an additional 1,286,543 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of UMB Financial in the second quarter worth approximately $129,153,000. Wellington Management Group LLP boosted its stake in shares of UMB Financial by 32.0% in the third quarter. Wellington Management Group LLP now owns 3,098,798 shares of the bank’s stock worth $366,743,000 after acquiring an additional 751,525 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of UMB Financial during the fourth quarter worth approximately $85,885,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on UMBF. Barclays reiterated an “overweight” rating and issued a $175.00 target price (up from $170.00) on shares of UMB Financial in a research report on Monday, August 3rd. Wells Fargo & Company set a $160.00 price objective on shares of UMB Financial and gave the company an “equal weight” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of UMB Financial in a report on Friday, July 24th. Raymond James Financial started coverage on shares of UMB Financial in a research note on Thursday, August 27th. They issued an “outperform” rating and a $165.00 target price on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $181.00 target price (up from $161.00) on shares of UMB Financial in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $168.92.

Insider Activity

In other news, CEO J. Kemper sold 15,062 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $148.55, for a total transaction of $2,237,460.10. Following the completion of the transaction, the chief executive officer directly owned 1,491,138 shares of the company’s stock, valued at approximately $221,508,549.90. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Phillip Mason sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $147.00, for a total transaction of $117,600.00. Following the transaction, the insider owned 8,894 shares of the company’s stock, valued at $1,307,418. This trade represents a 8.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,544 shares of company stock worth $3,775,862 over the last three months. Company insiders own 5.33% of the company’s stock.

UMB Financial Stock Up 0.1%

Shares of NASDAQ:UMBF opened at $139.49 on Friday. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.68 and a beta of 0.77. UMB Financial Corporation has a 12-month low of $68.92 and a 12-month high of $144.36. The business has a 50-day moving average price of $144.68 and a 200 day moving average price of $131.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $3.57 EPS for the quarter, topping the consensus estimate of $3.12 by $0.45. UMB Financial had a net margin of 21.64% and a return on equity of 13.41%. The firm had revenue of $778.00 million for the quarter, compared to analyst estimates of $727.63 million. During the same period in the prior year, the business posted $2.96 EPS. Sell-side analysts expect that UMB Financial Corporation will post 13.54 EPS for the current year.

UMB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from UMB Financial’s previous quarterly dividend of $0.43. UMB Financial’s payout ratio is presently 16.65%.

UMB Financial Company Profile

UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Missouri. Its principal subsidiary, UMB Bank, provides banking and financial services to individuals, businesses, institutions and government entities.

The company offers commercial and personal banking products, including deposit accounts, lending, treasury management, wealth management and investment services. UMB also provides institutional banking, fund administration, securities custody, corporate trust and payment solutions through its specialized financial services businesses.

Founded in 1913, UMB serves customers through banking locations and business operations across portions of the Midwest and Western United States, as well as through nationwide institutional and payment-services platforms.