Zurcher Kantonalbank Zurich Cantonalbank Buys 7,164 Shares of UMB Financial Corporation (NASDAQ:UMBF)

Key Points

• Zurcher Kantonalbank increased its stake in UMB Financial Corporation by 61.5%, acquiring an additional 7,164 shares, bringing its total to 18,809 shares valued at approximately $1.9 million.
• Analysts have raised their price targets for UMB Financial, with Piper Sandler increasing its target from $135 to $148 and Barclays setting a new target of $150, reflecting positive sentiment around the stock.
• UMB Financial recently announced a quarterly dividend of $0.40, set to be paid on October 1st, representing an annualized yield of 1.5% and a payout ratio of 18.39%.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 61.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,809 shares of the bank's stock after buying an additional 7,164 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in UMB Financial were worth $1,902,000 at the end of the most recent reporting period.

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

UMB Financial Stock Performance

Shares of NASDAQ UMBF traded down $0.96 during midday trading on Wednesday, reaching $110.30. The company's stock had a trading volume of 202,804 shares, compared to its average volume of 670,086. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $8.38 billion, a P/E ratio of 12.68, a PEG ratio of 1.26 and a beta of 0.77. The firm has a 50 day moving average price of $105.01 and a 200-day moving average price of $103.90. UMB Financial Corporation has a 12-month low of $82.00 and a 12-month high of $129.94.

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

UMB Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Raymond James Financial raised their price objective on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. Wall Street Zen cut UMB Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Royal Bank Of Canada raised their price objective on UMB Financial from $115.00 to $122.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Truist Financial lifted their price target on UMB Financial from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, UMB Financial has a consensus rating of "Moderate Buy" and an average target price of $132.11.

Insider Activity

In other UMB Financial news, CEO J Mariner Kemper sold 5,412 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 288,945 shares in the company, valued at $29,417,490.45. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Greg M. Graves purchased 261 shares of the business's stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $107.58 per share, with a total value of $28,078.38. Following the completion of the transaction, the director owned 37,800 shares of the company's stock, valued at approximately $4,066,524. This trade represents a 0.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.