Zurich Insurance Group Ltd FI Buys 46,471 Shares of UMB Financial Corporation $UMBF

Zurich Insurance Group Ltd FI boosted its stake in shares of UMB Financial Corporation (NASDAQ:UMBF) by 11.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464,699 shares of the bank’s stock after buying an additional 46,471 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in UMB Financial were worth $46,981,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in UMBF. Vanguard Group Inc. raised its position in UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank’s stock valued at $741,342,000 after purchasing an additional 2,570,283 shares in the last quarter. Earnest Partners LLC purchased a new stake in UMB Financial during the first quarter worth $144,351,000. Dimensional Fund Advisors LP boosted its position in UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank’s stock valued at $273,029,000 after acquiring an additional 1,185,671 shares in the last quarter. Nuveen LLC purchased a new position in shares of UMB Financial in the 1st quarter valued at $51,324,000. Finally, Wellington Management Group LLP raised its position in shares of UMB Financial by 19.1% in the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank’s stock worth $243,359,000 after acquiring an additional 385,830 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on UMBF. Truist Financial raised their price objective on UMB Financial from $130.00 to $144.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler lifted their price target on shares of UMB Financial from $135.00 to $148.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Barclays increased their price objective on UMB Financial from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Royal Bank Of Canada raised their price target on UMB Financial from $115.00 to $122.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company lifted their target price on shares of UMB Financial from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.89.

UMB Financial Trading Up 0.9%

Shares of NASDAQ:UMBF opened at $125.59 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a 52-week low of $82.00 and a 52-week high of $129.94. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.42 and a beta of 0.77. The business has a 50-day moving average price of $111.96 and a 200-day moving average price of $104.54.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.61. UMB Financial had a net margin of 15.42% and a return on equity of 12.27%. The company had revenue of $689.21 million for the quarter, compared to the consensus estimate of $638.25 million. During the same quarter in the prior year, the company earned $2.16 EPS. UMB Financial’s quarterly revenue was up 76.7% on a year-over-year basis. Equities analysts predict that UMB Financial Corporation will post 9.66 EPS for the current year.

UMB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. UMB Financial’s dividend payout ratio is presently 18.39%.

Insider Activity at UMB Financial

In related news, insider Phillip James Mason sold 750 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $120.97, for a total transaction of $90,727.50. Following the sale, the insider owned 8,815 shares in the company, valued at approximately $1,066,350.55. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shannon Andresen Johnson sold 1,367 shares of UMB Financial stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $120.58, for a total transaction of $164,832.86. Following the completion of the transaction, the insider directly owned 34,124 shares of the company’s stock, valued at $4,114,671.92. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 678 shares of company stock valued at $75,948 and sold 20,845 shares valued at $2,440,666. Insiders own 5.45% of the company’s stock.

UMB Financial Profile

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.