Allianz Asset Management GmbH Acquires Shares of 53,938 UMB Financial Corporation $UMBF

Key Points

• Allianz Asset Management GmbH acquired 53,938 shares of UMB Financial Corporation valued at approximately $5,672,000, representing roughly 0.07% ownership of the company.
• UMB Financial recently reported strong quarterly earnings, exceeding analysts' expectations with $2.96 EPS and revenue of $689.21 million, which is a 76.7% increase compared to the same period last year.
• The company declared a quarterly dividend of $0.40 per share, yielding 1.4%, and has a dividend payout ratio of 18.39% as of the last reporting period.

Allianz Asset Management GmbH acquired a new stake in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 53,938 shares of the bank's stock, valued at approximately $5,672,000. Allianz Asset Management GmbH owned about 0.07% of UMB Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group raised its stake in shares of UMB Financial by 4,840.0% in the first quarter. Brooklyn Investment Group now owns 247 shares of the bank's stock worth $25,000 after buying an additional 242 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of UMB Financial in the first quarter valued at $27,000. McIlrath & Eck LLC bought a new position in UMB Financial during the first quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of UMB Financial in the 1st quarter valued at about $35,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of UMB Financial by 143.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 362 shares of the bank's stock valued at $37,000 after purchasing an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company's stock.

UMB Financial Price Performance

UMB Financial stock opened at $111.40 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $118.79 and a 200 day moving average price of $108.58. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94. The stock has a market cap of $8.46 billion, a P/E ratio of 12.80, a PEG ratio of 1.14 and a beta of 0.73.

UMB Financial (NASDAQ:UMBF - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $0.61. The business had revenue of $689.21 million during the quarter, compared to analysts' expectations of $638.25 million. UMB Financial had a return on equity of 12.27% and a net margin of 15.42%.The company's revenue was up 76.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS. Sell-side analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Wednesday, September 10th. UMB Financial's dividend payout ratio (DPR) is presently 18.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on UMBF shares. Wells Fargo & Company lifted their price target on shares of UMB Financial from $125.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of UMB Financial in a research note on Wednesday, October 8th. Truist Financial upped their price target on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Raymond James Financial boosted their price objective on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Barclays set a $155.00 price target on shares of UMB Financial and gave the company an "overweight" rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $138.00.

Insider Buying and Selling

In related news, insider Shannon Andresen Johnson sold 1,367 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total transaction of $164,832.86. Following the transaction, the insider owned 34,124 shares of the company's stock, valued at $4,114,671.92. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stacy H. King sold 1,500 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $118.88, for a total transaction of $178,320.00. Following the completion of the sale, the insider owned 9,472 shares of the company's stock, valued at $1,126,031.36. This trade represents a 13.67% 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 worth $75,948 and sold 20,845 shares worth $2,440,666. 5.45% of the stock is currently owned by company insiders.

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.

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