Assenagon Asset Management S.A. Buys 11,916 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Assenagon Asset Management S.A. increased its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 93.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,705 shares of the bank's stock after buying an additional 11,916 shares during the period. Assenagon Asset Management S.A.'s holdings in UMB Financial were worth $2,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its stake in shares of UMB Financial by 442.0% during the 1st quarter. Rothschild Investment LLC now owns 271 shares of the bank's stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Versant Capital Management Inc grew its holdings in UMB Financial by 703.2% during the first quarter. Versant Capital Management Inc now owns 498 shares of the bank's stock worth $50,000 after purchasing an additional 436 shares during the period. Covestor Ltd increased its position in UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after buying an additional 124 shares during the last quarter. Marquette Asset Management LLC acquired a new position in UMB Financial during the first quarter worth approximately $82,000. Finally, GAMMA Investing LLC raised its stake in UMB Financial by 121.9% in the first quarter. GAMMA Investing LLC now owns 921 shares of the bank's stock valued at $93,000 after buying an additional 506 shares during the period. 87.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

UMBF has been the topic of a number of recent analyst reports. Bank of America assumed coverage on UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price on the stock. Wall Street Zen cut shares of UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Royal Bank Of Canada decreased their price objective on UMB Financial from $128.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company boosted their target price on shares of UMB Financial from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley lowered their price target on shares of UMB Financial from $156.00 to $146.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.88.

Insider Activity at UMB Financial

In related news, CEO J Mariner Kemper sold 5,412 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total transaction of $550,995.72. Following the sale, the chief executive officer now owns 288,945 shares in the company, valued at $29,417,490.45. The trade was a 1.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.45% of the stock is currently owned by insiders.

UMB Financial Price Performance

Shares of UMBF stock traded up $1.43 during trading hours on Friday, reaching $100.92. The company's stock had a trading volume of 805,532 shares, compared to its average volume of 530,859. UMB Financial Corporation has a fifty-two week low of $79.50 and a fifty-two week high of $129.94. The firm's 50 day simple moving average is $100.26 and its 200-day simple moving average is $106.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.16 and a beta of 0.75.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.37. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. The business had revenue of $563.84 million during the quarter, compared to the consensus estimate of $555.79 million. During the same period in the prior year, the company earned $2.47 EPS. UMB Financial's revenue for the quarter was up 41.4% on a year-over-year basis. Sell-side analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.59%. UMB Financial's payout ratio is currently 20.13%.

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.