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

Assenagon Asset Management S.A. boosted its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 93.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,705 shares of the bank's stock after acquiring an additional 11,916 shares during the quarter. Assenagon Asset Management S.A.'s holdings in UMB Financial were worth $2,498,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in UMBF. Dynamic Technology Lab Private Ltd bought a new stake in shares of UMB Financial in the 4th quarter valued at about $2,190,000. US Bancorp DE raised its stake in UMB Financial by 46.9% in the fourth quarter. US Bancorp DE now owns 13,105 shares of the bank's stock valued at $1,479,000 after buying an additional 4,182 shares during the period. Northern Trust Corp lifted its position in shares of UMB Financial by 16.2% in the fourth quarter. Northern Trust Corp now owns 637,072 shares of the bank's stock valued at $71,900,000 after buying an additional 88,705 shares during the last quarter. Inceptionr LLC acquired a new position in shares of UMB Financial in the fourth quarter valued at $305,000. Finally, Vontobel Holding Ltd. raised its position in shares of UMB Financial by 107.8% in the fourth quarter. Vontobel Holding Ltd. now owns 5,545 shares of the bank's stock valued at $626,000 after purchasing an additional 2,877 shares during the period. Institutional investors and hedge funds own 87.78% of the company's stock.

Insider Buying and Selling at UMB Financial

In related news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total transaction of $550,995.72. Following the completion of the transaction, the chief executive officer now directly owns 288,945 shares in the company, valued at $29,417,490.45. This represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.45% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on UMBF. 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 report on Thursday, March 13th. Wall Street Zen lowered UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Barclays reduced their price target on UMB Financial from $139.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Truist Financial initiated coverage on UMB Financial in a report on Tuesday, May 13th. They issued a "buy" rating and a $120.00 price objective on the stock. Finally, Bank of America initiated coverage on UMB Financial in a report on Wednesday, April 16th. They set a "buy" rating and a $105.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $122.88.

UMB Financial Price Performance

NASDAQ UMBF traded up $1.07 during midday trading on Wednesday, hitting $99.79. The company had a trading volume of 73,524 shares, compared to its average volume of 526,344. The firm has a 50-day moving average price of $99.93 and a 200-day moving average price of $107.16. The company has a market capitalization of $7.58 billion, a PE ratio of 12.52, a P/E/G ratio of 1.17 and a beta of 0.75. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. UMB Financial Corporation has a twelve month low of $79.50 and a twelve month high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million during the quarter, compared to the consensus estimate of $555.79 million. UMB Financial had a return on equity of 12.09% and a net margin of 13.64%. UMB Financial's revenue for the quarter was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. As a group, analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 annualized dividend and a yield of 1.60%. UMB Financial's dividend payout ratio is currently 20.13%.

UMB Financial Company 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.