State of New Jersey Common Pension Fund D Has $2.03 Million Holdings in UMB Financial Co. (NASDAQ:UMBF)

State of New Jersey Common Pension Fund D decreased its position in shares of UMB Financial Co. (NASDAQ:UMBF) by 19.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,322 shares of the bank’s stock after selling 4,605 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in UMB Financial were worth $2,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of UMBF. V Square Quantitative Management LLC bought a new stake in UMB Financial during the 3rd quarter worth approximately $26,000. Covestor Ltd grew its holdings in UMB Financial by 31.0% during the third quarter. Covestor Ltd now owns 431 shares of the bank’s stock worth $45,000 after buying an additional 102 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in UMB Financial in the 2nd quarter valued at $128,000. CWM LLC boosted its holdings in UMB Financial by 7.1% during the 2nd quarter. CWM LLC now owns 1,941 shares of the bank’s stock worth $162,000 after acquiring an additional 129 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in shares of UMB Financial in the third quarter valued at about $203,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on UMBF. Citigroup assumed coverage on shares of UMB Financial in a research report on Thursday, October 10th. They issued a “buy” rating and a $127.00 price objective for the company. Barclays increased their price target on UMB Financial from $118.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price objective on UMB Financial from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company lifted their target price on UMB Financial from $107.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Insiders Place Their Bets

In other news, Director Greg M. Graves purchased 258 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $109.29 per share, with a total value of $28,196.82. Following the completion of the acquisition, the director now owns 36,244 shares in the company, valued at $3,961,106.76. This represents a 0.72 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO J Mariner Kemper sold 24,300 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $101.81, for a total transaction of $2,473,983.00. Following the transaction, the chief executive officer now directly owns 1,600,904 shares of the company’s stock, valued at approximately $162,988,036.24. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,449 shares of company stock worth $5,724,799 over the last 90 days. Corporate insiders own 8.85% of the company’s stock.

UMB Financial Stock Down 1.1 %

Shares of NASDAQ UMBF opened at $121.49 on Friday. The business’s fifty day moving average price is $108.82 and its 200-day moving average price is $95.84. UMB Financial Co. has a one year low of $69.96 and a one year high of $128.73. The stock has a market capitalization of $5.93 billion, a PE ratio of 15.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76.

UMB Financial (NASDAQ:UMBF) last issued its earnings results on Tuesday, October 29th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.05. UMB Financial had a net margin of 14.44% and a return on equity of 13.80%. The firm had revenue of $716.44 million during the quarter, compared to analyst estimates of $398.83 million. During the same quarter last year, the business earned $2.02 earnings per share. On average, equities research analysts anticipate that UMB Financial Co. will post 9.33 EPS for the current year.

UMB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.40 per share. This is a boost from UMB Financial’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. UMB Financial’s payout ratio is presently 20.00%.

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.