California Public Employees Retirement System Has $4.73 Million Position in UMB Financial Corporation (UMBF)
California Public Employees Retirement System reduced its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 10.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,139 shares of the bank’s stock after selling 7,400 shares during the quarter. California Public Employees Retirement System owned approximately 0.13% of UMB Financial Corporation worth $4,727,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Invictus RG purchased a new stake in shares of UMB Financial Corporation during the 1st quarter worth $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of UMB Financial Corporation by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,604 shares of the bank’s stock worth $120,000 after purchasing an additional 130 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of UMB Financial Corporation by 21.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,890 shares of the bank’s stock worth $143,000 after purchasing an additional 330 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of UMB Financial Corporation by 53.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,463 shares of the bank’s stock worth $184,000 after purchasing an additional 863 shares during the last quarter. Finally, Pitcairn Co. purchased a new stake in shares of UMB Financial Corporation during the 2nd quarter worth $201,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.
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In other UMB Financial Corporation news, Director Timothy R. Murphy purchased 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was bought at an average cost of $67.50 per share, with a total value of $101,250.00. Following the acquisition, the director now directly owns 4,049 shares of the company’s stock, valued at $273,307.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.09% of the stock is owned by insiders.
Shares of UMB Financial Corporation (NASDAQ UMBF) opened at 75.35 on Friday. UMB Financial Corporation has a 1-year low of $59.70 and a 1-year high of $81.55. The firm has a 50-day moving average price of $71.04 and a 200-day moving average price of $71.91. The stock has a market capitalization of $3.77 billion, a PE ratio of 21.77 and a beta of 0.89.
UMB Financial Corporation (NASDAQ:UMBF) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). The business had revenue of $247.70 million for the quarter, compared to analysts’ expectations of $261.84 million. UMB Financial Corporation had a return on equity of 8.81% and a net margin of 16.59%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. On average, equities research analysts forecast that UMB Financial Corporation will post $3.60 earnings per share for the current year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Thursday, September 7th. UMB Financial Corporation’s dividend payout ratio (DPR) is 29.39%.
A number of equities research analysts recently weighed in on UMBF shares. Zacks Investment Research upgraded UMB Financial Corporation from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Thursday, October 5th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $74.00 price target on shares of UMB Financial Corporation in a research note on Friday, October 6th. UBS AG upgraded UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 10th. Raymond James Financial, Inc. upgraded UMB Financial Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 10th. Finally, BidaskClub cut UMB Financial Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Two investment 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 stock presently has a consensus rating of “Hold” and a consensus target price of $77.20.
UMB Financial Corporation 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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