Teachers Retirement System of The State of Kentucky Has $660,000 Stake in UMB Financial Corporation (UMBF)
Teachers Retirement System of The State of Kentucky lessened its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,820 shares of the bank’s stock after selling 700 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in UMB Financial Corporation were worth $660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. M&T Bank Corp purchased a new position in shares of UMB Financial Corporation during the 2nd quarter worth $215,000. Vanguard Group Inc. boosted its stake in shares of UMB Financial Corporation by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,175,014 shares of the bank’s stock worth $312,541,000 after acquiring an additional 80,269 shares during the last quarter. Northern Trust Corp boosted its stake in shares of UMB Financial Corporation by 1.6% during the 2nd quarter. Northern Trust Corp now owns 1,255,306 shares of the bank’s stock worth $93,972,000 after acquiring an additional 19,397 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of UMB Financial Corporation by 10.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 25,386 shares of the bank’s stock worth $1,900,000 after acquiring an additional 2,315 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of UMB Financial Corporation by 4.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,701 shares of the bank’s stock worth $876,000 after acquiring an additional 497 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.
In related news, Director Timothy R. Murphy acquired 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were acquired at an average cost of $67.50 per share, with a total value of $101,250.00. Following the completion of the acquisition, the director now directly owns 4,049 shares in the company, valued at approximately $273,307.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 10.09% of the company’s stock.
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UMBF has been the topic of several analyst reports. Zacks Investment Research upgraded shares of UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Thursday, October 5th. BidaskClub upgraded shares of UMB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Stephens set a $71.00 price target on shares of UMB Financial Corporation and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Piper Jaffray Companies set a $74.00 target price on shares of UMB Financial Corporation and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, Raymond James Financial, Inc. upgraded shares of UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $77.20.
UMB Financial Corporation (NASDAQ UMBF) opened at 73.97 on Monday. The company’s 50 day moving average is $70.28 and its 200-day moving average is $71.87. UMB Financial Corporation has a 1-year low of $59.70 and a 1-year high of $81.55. The stock has a market cap of $3.70 billion, a PE ratio of 21.37 and a beta of 0.89.
UMB Financial Corporation (NASDAQ:UMBF) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). The firm had revenue of $247.70 million for the quarter, compared to analyst estimates of $261.84 million. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. Equities research analysts forecast that UMB Financial Corporation will post $3.60 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, September 7th. UMB Financial Corporation’s payout ratio is 29.39%.
About UMB Financial Corporation
UMB Financial Corporation is a diversified financial holding company. The Company supplies banking services, institutional investment management, asset servicing and payment solutions to its customers in the United States and around the globe. The Company’s segments include Bank, which provides a range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, Internet banking and automated teller machine network; Institutional Investment Management, which provides equity and fixed income investment strategies in the intermediary and institutional markets, and Asset Servicing, which provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts.
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