State of New Jersey Common Pension Fund D Cuts Holdings in UMB Financial Co. (NASDAQ:UMBF)

State of New Jersey Common Pension Fund D lowered its position in UMB Financial Co. (NASDAQ:UMBF) by 32.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,927 shares of the bank’s stock after selling 11,454 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in UMB Financial were worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in UMBF. ClariVest Asset Management LLC lifted its stake in shares of UMB Financial by 161.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 15,888 shares of the bank’s stock valued at $1,325,000 after purchasing an additional 9,821 shares in the last quarter. Texas Permanent School Fund Corp increased its position in UMB Financial by 11.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 42,495 shares of the bank’s stock worth $3,545,000 after purchasing an additional 4,269 shares in the last quarter. Quest Partners LLC raised its holdings in UMB Financial by 144.1% in the second quarter. Quest Partners LLC now owns 17,784 shares of the bank’s stock valued at $1,484,000 after buying an additional 10,498 shares during the period. Great Lakes Advisors LLC lifted its position in UMB Financial by 0.4% during the second quarter. Great Lakes Advisors LLC now owns 58,892 shares of the bank’s stock valued at $4,913,000 after buying an additional 210 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in UMB Financial by 2.3% during the second quarter. Arizona State Retirement System now owns 12,962 shares of the bank’s stock worth $1,081,000 after buying an additional 291 shares during the period. Hedge funds and other institutional investors own 87.78% of the company’s stock.

UMB Financial Stock Down 1.9 %

Shares of NASDAQ UMBF opened at $106.75 on Friday. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 14.18 and a beta of 0.78. UMB Financial Co. has a 1 year low of $57.91 and a 1 year high of $109.42. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $99.08 and its 200-day simple moving average is $88.12.

UMB Financial (NASDAQ:UMBF) last released its earnings results on Tuesday, July 30th. The bank reported $2.16 EPS for the quarter, beating the consensus estimate of $2.01 by $0.15. The company had revenue of $390.03 million during the quarter, compared to analysts’ expectations of $384.96 million. UMB Financial had a return on equity of 14.23% and a net margin of 14.55%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 EPS. As a group, equities analysts anticipate that UMB Financial Co. will post 8.98 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.46%. UMB Financial’s dividend payout ratio (DPR) is presently 20.72%.

Insider Activity

In related news, CEO J Mariner Kemper sold 8,450 shares of UMB Financial stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $83.33, for a total value of $704,138.50. Following the completion of the transaction, the chief executive officer now directly owns 1,681,904 shares in the company, valued at $140,153,060.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other UMB Financial news, Director Tamara Peterman bought 396 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $99.56 per share, with a total value of $39,425.76. Following the completion of the acquisition, the director now owns 7,407 shares of the company’s stock, valued at $737,440.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Mariner Kemper sold 8,450 shares of UMB Financial stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $83.33, for a total transaction of $704,138.50. Following the completion of the transaction, the chief executive officer now directly owns 1,681,904 shares of the company’s stock, valued at $140,153,060.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,846 shares of company stock worth $3,135,439. 8.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UMBF. Keefe, Bruyette & Woods upgraded shares of UMB Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $93.00 to $98.00 in a report on Friday, May 31st. Wells Fargo & Company raised their price objective on UMB Financial from $90.00 to $107.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler upped their target price on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Barclays raised their target price on UMB Financial from $100.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.33.

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.