UMB Financial Corporation (UMBF) Position Lowered by California Public Employees Retirement System
California Public Employees Retirement System lowered its position in shares of UMB Financial Corporation (NASDAQ:UMBF) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,539 shares of the bank’s stock after selling 1,100 shares during the period. California Public Employees Retirement System owned approximately 0.14% of UMB Financial Corporation worth $5,312,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Retirement Systems of Alabama increased its stake in shares of UMB Financial Corporation by 0.5% in the first quarter. Retirement Systems of Alabama now owns 56,588 shares of the bank’s stock worth $4,262,000 after buying an additional 266 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of UMB Financial Corporation by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the bank’s stock worth $836,000 after buying an additional 300 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of UMB Financial Corporation by 0.8% in the first quarter. Capstone Asset Management Co. now owns 3,833 shares of the bank’s stock worth $289,000 after buying an additional 30 shares in the last quarter. First National Bank of Omaha increased its stake in shares of UMB Financial Corporation by 11.9% in the first quarter. First National Bank of Omaha now owns 45,333 shares of the bank’s stock worth $3,414,000 after buying an additional 4,810 shares in the last quarter. Finally, Creative Planning increased its stake in shares of UMB Financial Corporation by 0.6% in the first quarter. Creative Planning now owns 10,194 shares of the bank’s stock worth $768,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.
Shares of UMB Financial Corporation (UMBF) traded up 0.65% during trading on Friday, hitting $70.19. The stock had a trading volume of 130,410 shares. The company’s 50 day moving average price is $73.55 and its 200 day moving average price is $74.55. UMB Financial Corporation has a 12 month low of $54.39 and a 12 month high of $81.55. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 20.28 and a beta of 0.86.
UMB Financial Corporation (NASDAQ:UMBF) last posted its earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.02. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The firm had revenue of $247.70 million for the quarter, compared to analyst estimates of $261.84 million. During the same period in the previous year, the company posted $0.76 EPS. UMB Financial Corporation’s revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that UMB Financial Corporation will post $3.65 earnings per share for the current fiscal year.
UMB Financial Corporation announced that its board has initiated a share repurchase plan on Tuesday, April 25th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
UMBF has been the subject of a number of analyst reports. Stephens restated a “hold” rating on shares of UMB Financial Corporation in a research report on Thursday, April 20th. FBR & Co reiterated a “hold” rating and set a $82.00 target price (up from $80.00) on shares of UMB Financial Corporation in a research report on Friday, April 21st. Zacks Investment Research lowered UMB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 29th. Finally, BidaskClub upgraded UMB Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. UMB Financial Corporation presently has an average rating of “Hold” and an average price target of $78.20.
In other UMB Financial Corporation news, insider Michael D. Hagedorn sold 5,966 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $74.08, for a total value of $441,961.28. Following the sale, the insider now owns 65,092 shares of the company’s stock, valued at approximately $4,822,015.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $1,623,672.00. Following the completion of the sale, the chairman now directly owns 186,373 shares in the company, valued at approximately $14,009,658.41. The disclosure for this sale can be found here. In the last three months, insiders have purchased 2,300 shares of company stock worth $162,044 and have sold 36,491 shares worth $2,729,550. 10.09% of the stock is currently owned by corporate insiders.
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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