Louisiana State Employees Retirement System Sells 200 Shares of UMB Financial Co. (NASDAQ:UMBF)

Louisiana State Employees Retirement System decreased its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,400 shares of the bank’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in UMB Financial were worth $1,034,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new position in shares of UMB Financial during the 2nd quarter worth about $1,502,000. 1620 Investment Advisors Inc. bought a new position in UMB Financial in the 2nd quarter worth approximately $128,000. AlphaMark Advisors LLC acquired a new position in shares of UMB Financial during the second quarter worth approximately $321,000. Wedge Capital Management L L P NC acquired a new position in shares of UMB Financial during the second quarter worth approximately $3,808,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of UMB Financial by 37.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,553 shares of the bank’s stock valued at $380,000 after acquiring an additional 1,246 shares during the period. 87.78% of the stock is currently owned by institutional investors.

UMB Financial Stock Performance

NASDAQ UMBF opened at $102.55 on Wednesday. UMB Financial Co. has a twelve month low of $57.91 and a twelve month high of $105.72. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.12. The stock has a market cap of $5.00 billion, a P/E ratio of 13.62 and a beta of 0.80. The company’s 50-day simple moving average is $91.71 and its 200 day simple moving average is $85.35.

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

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.52%. UMB Financial’s payout ratio is presently 20.72%.

Wall Street Analysts Forecast Growth

UMBF has been the topic of a number of research reports. Barclays boosted their target price on shares of UMB Financial from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Piper Sandler upped their price objective 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. Wells Fargo & Company lifted their target price on UMB Financial from $90.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods upgraded UMB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $93.00 to $98.00 in a research note on Friday, May 31st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.33.

Insider Activity

In related news, CEO J Mariner Kemper sold 2,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.39, for a total transaction of $162,780.00. Following the completion of the sale, the chief executive officer now owns 1,698,104 shares in the company, valued at approximately $138,208,684.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other UMB Financial news, Director Tamara Peterman bought 396 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $99.56 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO J Mariner Kemper sold 2,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $81.39, for a total value of $162,780.00. Following the completion of the sale, the chief executive officer now owns 1,698,104 shares of the company’s stock, valued at $138,208,684.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,846 shares of company stock worth $2,785,719. Corporate insiders own 8.85% of the company’s stock.

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.