Public Employees Retirement System of Ohio increased its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 13.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,835 shares of the bank’s stock after buying an additional 1,281 shares during the period. Public Employees Retirement System of Ohio’s holdings in UMB Financial Corporation were worth $816,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Tyers Asset Management LLC increased its position in shares of UMB Financial Corporation by 11.1% in the first quarter. Tyers Asset Management LLC now owns 1,440 shares of the bank’s stock valued at $108,000 after buying an additional 144 shares in the last quarter. Invictus RG acquired a new position in shares of UMB Financial Corporation during the first quarter valued at about $111,000. PNC Financial Services Group Inc. increased its position in shares of UMB Financial Corporation by 21.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,890 shares of the bank’s stock valued at $143,000 after buying an additional 330 shares in the last quarter. Elkfork Partners LLC increased its position in shares of UMB Financial Corporation by 11.1% in the first quarter. Elkfork Partners LLC now owns 1,980 shares of the bank’s stock valued at $149,000 after buying an additional 198 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its position in shares of UMB Financial Corporation by 11.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,520 shares of the bank’s stock valued at $190,000 after buying an additional 252 shares in the last quarter. 82.01% of the stock is owned by institutional investors.
Shares of UMB Financial Corporation (UMBF) opened at 66.36 on Friday. UMB Financial Corporation has a 52 week low of $57.31 and a 52 week high of $81.55. The firm has a market capitalization of $3.32 billion, a P/E ratio of 19.17 and a beta of 0.86. The firm’s 50-day moving average is $71.70 and its 200 day moving average is $73.98.
UMB Financial Corporation (NASDAQ:UMBF) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by $0.02. UMB Financial Corporation had a net margin of 16.59% and a return on equity of 8.81%. The business had revenue of $247.70 million during the quarter, compared to the consensus estimate of $261.84 million. During the same period last year, the business posted $0.76 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that UMB Financial Corporation will post $3.65 EPS for the current fiscal year.
UMB Financial Corporation announced that its board has initiated a share repurchase program on Tuesday, April 25th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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A number of research firms have weighed in on UMBF. FBR & Co upped their target price on UMB Financial Corporation from $80.00 to $82.00 and gave the stock a “mkt perform” rating in a research report on Thursday, April 27th. BidaskClub upgraded UMB Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, July 7th. Finally, Stephens set a $71.00 target price on UMB Financial Corporation and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $78.20.
In other news, insider Michael D. Hagedorn sold 3,125 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $74.54, for a total value of $232,937.50. Following the completion of the sale, the insider now owns 66,743 shares in the company, valued at $4,975,023.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman J Mariner Kemper sold 21,600 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $75.17, for a total transaction of $1,623,672.00. Following the completion of the sale, the chairman now owns 186,373 shares of the company’s stock, valued at approximately $14,009,658.41. The disclosure for this sale can be found here. Insiders sold 27,225 shares of company stock worth $2,043,235 over the last ninety days. Insiders own 10.09% of the company’s stock.
UMB Financial Corporation Company Profile
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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