Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Position in UMB Financial Co. (NASDAQ:UMBF) (2024)

Posted by ABMN Staff on Feb 25th, 2024

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in UMB Financial Co. (NASDAQ:UMBF – Free Report) by 58.1% in the third quarter, HoldingsChannel.com reports. The fund owned 8,843 shares of the bank’s stock after selling 12,261 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in UMB Financial were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS Group AG raised its stake in UMB Financial by 198.1% in the 3rd quarter. UBS Group AG now owns 60,911 shares of the bank’s stock worth $3,780,000 after acquiring an additional 40,479 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of UMB Financial during the 3rd quarter valued at about $1,213,000. Charles Schwab Investment Management Inc. raised its stake in shares of UMB Financial by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 511,015 shares of the bank’s stock valued at $31,708,000 after buying an additional 8,315 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of UMB Financial during the 3rd quarter valued at about $215,000. Finally, Swiss National Bank raised its stake in shares of UMB Financial by 1.0% during the 3rd quarter. Swiss National Bank now owns 101,300 shares of the bank’s stock valued at $6,286,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

UMB Financial Trading Up 0.4 %

UMBF stock opened at $80.75 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.12. UMB Financial Co. has a 12-month low of $50.68 and a 12-month high of $92.07. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 11.25 and a beta of 0.84. The business’s 50-day moving average is $81.57 and its 200 day moving average is $71.70.

UMB Financial (NASDAQ:UMBF – Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The bank reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.53. UMB Financial had a return on equity of 13.75% and a net margin of 14.70%. The company had revenue of $370.80 million for the quarter, compared to analysts’ expectations of $360.69 million. During the same period in the previous year, the firm posted $2.06 EPS. UMB Financial’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts anticipate that UMB Financial Co. will post 7.29 EPS for the current fiscal year.

UMB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, March 8th. UMB Financial’s dividend payout ratio (DPR) is 21.73%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UMBF. Raymond James lifted their price objective on UMB Financial from $80.00 to $102.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Piper Sandler lifted their price objective on UMB Financial from $87.50 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, StockNews.com upgraded UMB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.80.

View Our Latest Stock Report on UMB Financial

Insiders Place Their Bets

In other news, insider Robert Brian Beaird sold 895 shares of UMB Financial stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $83.80, for a total transaction of $75,001.00. Following the sale, the insider now owns 5,827 shares of the company’s stock, valued at approximately $488,302.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other UMB Financial news, insider Shannon Andresen Johnson sold 1,036 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $75.83, for a total value of $78,559.88. Following the completion of the transaction, the insider now owns 16,202 shares in the company, valued at $1,228,597.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Brian Beaird sold 895 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $83.80, for a total transaction of $75,001.00. Following the transaction, the insider now owns 5,827 shares of the company’s stock, valued at approximately $488,302.60. The disclosure for this sale can be found here. Insiders have sold 8,503 shares of company stock valued at $685,569 in the last ninety days. 9.77% of the stock is currently owned by corporate insiders.

UMB Financial Profile

(Free Report)

UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. 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 disbursem*nt, lockbox service, and remote deposit capture service.

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