Powszechne Towarzystwo Emerytalne Allianz Polska S.A. Purchases New Shares in UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• Powszechne Towarzystwo Emerytalne Allianz Polska S.A. acquired a new position in UMB Financial Corporation during Q1, purchasing 170,440 shares valued at approximately $17.23 million, making it the firm's 5th largest holding.
• Analysts are mixed on UMB Financial, with ratings ranging from "buy" and "strong buy" to a "sell," yielding an average price target of $132.11.
• UMB Financial reported strong Q2 earnings, posting $2.96 earnings per share, significantly beating estimates, with a revenue increase of 76.7% year-over-year.

Powszechne Towarzystwo Emerytalne Allianz Polska S.A. purchased a new position in UMB Financial Corporation (NASDAQ:UMBF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 170,440 shares of the bank's stock, valued at approximately $17,231,000. UMB Financial comprises approximately 7.8% of Powszechne Towarzystwo Emerytalne Allianz Polska S.A.'s investment portfolio, making the stock its 5th biggest position. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. owned about 0.22% of UMB Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SummerHaven Investment Management LLC raised its holdings in UMB Financial by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 9,145 shares of the bank's stock valued at $925,000 after acquiring an additional 122 shares during the last quarter. Covestor Ltd boosted its position in shares of UMB Financial by 28.8% during the 4th quarter. Covestor Ltd now owns 555 shares of the bank's stock worth $63,000 after purchasing an additional 124 shares during the period. EP Wealth Advisors LLC lifted its holdings in UMB Financial by 5.8% during the 4th quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock worth $266,000 after buying an additional 130 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in UMB Financial by 4.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 3,784 shares of the bank's stock worth $383,000 after buying an additional 150 shares in the last quarter. Finally, Heritage Family Offices LLP lifted its holdings in UMB Financial by 7.6% during the 1st quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank's stock worth $224,000 after buying an additional 156 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO J Mariner Kemper sold 5,412 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $101.81, for a total value of $550,995.72. Following the completion of the sale, the chief executive officer directly owned 288,945 shares of the company's stock, valued at $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg M. Graves purchased 261 shares of UMB Financial stock in a transaction dated Friday, August 1st. The stock was bought at an average cost of $107.58 per share, with a total value of $28,078.38. Following the completion of the transaction, the director directly owned 37,800 shares of the company's stock, valued at $4,066,524. This represents a 0.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Raymond James Financial increased their target price on shares of UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Truist Financial raised their price objective on shares of UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Piper Sandler lifted their target price on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Finally, Bank of America started coverage on shares of UMB Financial in a report on Wednesday, April 16th. They issued 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, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.11.

UMB Financial Price Performance

UMBF traded down $1.26 on Wednesday, reaching $110.00. The company had a trading volume of 462,912 shares, compared to its average volume of 672,000. The company has a fifty day moving average of $105.01 and a 200-day moving average of $103.90. The company has a market capitalization of $8.35 billion, a P/E ratio of 12.64, a PEG ratio of 1.26 and a beta of 0.77. 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 one year low of $82.00 and a one year high of $129.94.

UMB Financial (NASDAQ:UMBF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $638.25 million. During the same quarter last year, the firm posted $2.16 EPS. The business's revenue for the quarter was up 76.7% on a year-over-year basis. As a group, equities research analysts anticipate that UMB Financial Corporation will post 9.66 earnings per share for the current year.

UMB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio (DPR) is presently 18.39%.

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.