UMB Financial Co. (NASDAQ:UMBF) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 19.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,322 shares of the bank's stock after selling 4,605 shares during the period. State of New Jersey Common Pension Fund D's holdings in UMB Financial were worth $2,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new position in shares of UMB Financial during the 2nd quarter worth approximately $3,808,000. Vanguard Group Inc. boosted its holdings in shares of UMB Financial by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 4,705,385 shares of the bank's stock worth $409,321,000 after purchasing an additional 394,578 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of UMB Financial by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,689,895 shares of the bank's stock valued at $140,968,000 after buying an additional 100,000 shares during the period. Interval Partners LP purchased a new stake in shares of UMB Financial during the 2nd quarter valued at approximately $3,286,000. Finally, Quest Partners LLC raised its position in shares of UMB Financial by 144.1% during the 2nd 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. 87.78% of the stock is currently owned by institutional investors and hedge funds.

UMB Financial Stock Down 1.1 %

Shares of NASDAQ UMBF opened at $121.49 on Friday. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 15.19 and a beta of 0.78. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.11. UMB Financial Co. has a 52-week low of $69.96 and a 52-week high of $128.73. The business's 50 day moving average is $108.82 and its two-hundred day moving average is $95.84.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.05. UMB Financial had a return on equity of 13.80% and a net margin of 14.44%. The company had revenue of $716.44 million for the quarter, compared to analyst estimates of $398.83 million. During the same quarter in the previous year, the company earned $2.02 earnings per share. Research analysts predict that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from UMB Financial's previous quarterly dividend of $0.39. UMB Financial's dividend payout ratio is currently 19.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UMBF. Wells Fargo & Company lifted their price target on shares of UMB Financial from $107.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Citigroup began coverage on shares of UMB Financial in a research report on Thursday, October 10th. They set a "buy" rating and a $127.00 price target on the stock. Barclays lifted their price target on shares of UMB Financial from $118.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, Piper Sandler lifted their price target on shares of UMB Financial from $102.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Two equities 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $115.00.

Insider Transactions at UMB Financial

In related news, Director Kris A. Robbins sold 5,000 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.50, for a total transaction of $512,500.00. Following the completion of the transaction, the director now owns 3,211 shares in the company, valued at approximately $329,127.50. The trade was a 60.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO J Mariner Kemper sold 24,300 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the transaction, the chief executive officer now owns 1,600,904 shares of the company's stock, valued at approximately $162,988,036.24. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,449 shares of company stock valued at $5,724,799. 8.85% of the stock is currently owned by company insiders.

About UMB Financial

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.