Swiss National Bank Purchases 49,220 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• The Swiss National Bank increased its stake in UMB Financial Corporation by 54.0%, acquiring an additional 49,220 shares, now totaling 140,320 shares valued at approximately $14.2 million.
• UMB Financial reported a strong quarterly performance with an EPS of $2.96, exceeding estimates, and a revenue growth of 76.7% year-over-year.
• The company declared a quarterly dividend of $0.40, representing a 1.4% dividend yield, with the payout ratio currently at 18.39%.

Swiss National Bank raised its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 54.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,320 shares of the bank's stock after acquiring an additional 49,220 shares during the period. Swiss National Bank owned approximately 0.18% of UMB Financial worth $14,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of UMBF. Wells Fargo & Company MN increased its position in UMB Financial by 16.4% during the fourth quarter. Wells Fargo & Company MN now owns 51,929 shares of the bank's stock valued at $5,861,000 after acquiring an additional 7,318 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of UMB Financial by 16.5% during the 4th quarter. Bank of Montreal Can now owns 6,270 shares of the bank's stock worth $708,000 after acquiring an additional 886 shares during the last quarter. Invesco Ltd. lifted its stake in shares of UMB Financial by 31.4% during the 4th quarter. Invesco Ltd. now owns 309,980 shares of the bank's stock worth $34,984,000 after acquiring an additional 74,038 shares during the last quarter. Mariner LLC lifted its position in shares of UMB Financial by 1.9% during the fourth quarter. Mariner LLC now owns 21,296 shares of the bank's stock worth $2,403,000 after purchasing an additional 393 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of UMB Financial during the fourth quarter worth $679,000. Institutional investors own 87.78% of the company's stock.

UMB Financial Trading Up 0.3%

UMBF opened at $117.06 on Friday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.33 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 12 month low of $82.00 and a 12 month high of $129.94. The stock has a fifty day moving average price of $106.22 and a 200-day moving average price of $103.61.

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

UMB Financial Announces Dividend

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

Analyst Ratings Changes

UMBF has been the subject of several research analyst reports. Piper Sandler lifted their target price on UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Raymond James Financial lifted their target price on UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Royal Bank Of Canada lifted their target price on UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Truist Financial lifted their target price on UMB Financial from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Barclays lifted their target price on UMB Financial from $140.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $132.11.

Insider Transactions at UMB Financial

In other news, CEO J Mariner Kemper sold 15,523 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $116.33, for a total value of $1,805,790.59. Following the completion of the sale, the chief executive officer owned 1,536,781 shares of the company's stock, valued at $178,773,733.73. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Brian Beaird sold 1,205 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $116.17, for a total value of $139,984.85. Following the completion of the sale, the insider directly owned 10,147 shares of the company's stock, valued at $1,178,776.99. The trade was a 10.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,140 shares of company stock valued at $2,496,771. Corporate insiders own 5.45% of the company's stock.

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.

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