New York State Teachers Retirement System Sells 8,800 Shares of UMB Financial Co. (NASDAQ:UMBF)

New York State Teachers Retirement System lowered its holdings in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 12.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,712 shares of the bank's stock after selling 8,800 shares during the period. New York State Teachers Retirement System owned about 0.12% of UMB Financial worth $6,276,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of UMB Financial during the third quarter worth $26,000. 1620 Investment Advisors Inc. bought a new position in UMB Financial in the second quarter valued at about $128,000. Heritage Family Offices LLP bought a new position in UMB Financial in the third quarter valued at about $203,000. CWM LLC boosted its stake in shares of UMB Financial by 7.1% during the second quarter. CWM LLC now owns 1,941 shares of the bank's stock valued at $162,000 after purchasing an additional 129 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in shares of UMB Financial during the third quarter worth about $233,000. Institutional investors and hedge funds own 87.78% of the company's stock.

Wall Street Analyst Weigh In

UMBF has been the topic of a number of research reports. Barclays boosted their target price on shares of UMB Financial from $118.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Piper Sandler boosted their target price on shares of UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Citigroup started coverage on UMB Financial in a report on Thursday, October 10th. They set a "buy" rating and a $127.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on UMB Financial from $107.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.00.

UMB Financial Stock Up 2.5 %

Shares of NASDAQ UMBF traded up $2.75 during midday trading on Tuesday, hitting $110.71. 293,540 shares of the stock traded hands, compared to its average volume of 361,351. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. UMB Financial Co. has a one year low of $65.48 and a one year high of $113.56. The company has a market cap of $5.40 billion, a PE ratio of 13.50 and a beta of 0.78. The business has a 50 day moving average price of $105.24 and a two-hundred day moving average price of $93.51.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $2.20 by $0.05. The firm had revenue of $716.44 million during the quarter, compared to the consensus estimate of $398.83 million. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. During the same period in the prior year, the business posted $2.02 earnings per share. On average, equities analysts predict that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a $0.40 dividend. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. UMB Financial's dividend payout ratio is presently 19.50%.

Insider Activity

In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the sale, the director now directly owns 3,211 shares of the company's stock, valued at approximately $329,127.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other UMB Financial news, Director Kris A. Robbins sold 5,000 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.50, for a total value of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares in the company, valued at $329,127.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of UMB Financial stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total value of $2,473,983.00. Following the sale, the chief executive officer now owns 1,600,904 shares in the company, valued at $162,988,036.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,449 shares of company stock worth $5,724,799 over the last quarter. Insiders own 8.85% of the company's stock.

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.