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 lifted its holdings in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 61.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,809 shares of the bank's stock after purchasing an additional 7,164 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in UMB Financial were worth $1,902,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Integrated Investment Consultants LLC bought a new position in shares of UMB Financial during the first quarter worth approximately $481,000. Knights of Columbus Asset Advisors LLC increased its holdings in shares of UMB Financial by 2.7% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 20,812 shares of the bank's stock worth $2,104,000 after purchasing an additional 549 shares during the period. Caliber Wealth Management LLC KS bought a new position in shares of UMB Financial during the first quarter worth approximately $780,000. Neo Ivy Capital Management bought a new position in shares of UMB Financial during the first quarter worth approximately $42,000. Finally, Cetera Investment Advisers increased its holdings in shares of UMB Financial by 88.1% during the first quarter. Cetera Investment Advisers now owns 3,963 shares of the bank's stock worth $401,000 after purchasing an additional 1,856 shares during the period. 87.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on UMBF. Piper Sandler raised their target price on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a report on Thursday. Barclays reiterated an "overweight" rating and set a $150.00 price target (up previously from $140.00) on shares of UMB Financial in a research report on Thursday. Raymond James Financial increased their price target on shares of UMB Financial from $135.00 to $138.00 and gave the stock a "strong-buy" rating in a research report on Thursday. Wells Fargo & Company increased their price target on shares of UMB Financial from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Wall Street Zen lowered shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $132.11.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $108.39 on Friday. UMB Financial Corporation has a fifty-two week low of $82.00 and a fifty-two week high of $129.94. 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 firm has a market capitalization of $8.23 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.44 and a beta of 0.77. The company's 50 day moving average price is $104.71 and its two-hundred day moving average price is $104.15.

UMB Financial (NASDAQ:UMBF - Get Free Report) last issued its earnings results on Tuesday, July 29th. The bank reported $2.96 earnings per share for the quarter, beating 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 firm had revenue of $689.21 million for the quarter, compared to analyst estimates of $638.25 million. During the same quarter last year, the business posted $2.16 earnings per share. The company's quarterly revenue was up 76.7% on a year-over-year basis. On average, equities analysts forecast that UMB Financial Corporation will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO J Mariner Kemper sold 5,412 shares of UMB Financial stock in a transaction 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 transaction, the chief executive officer owned 288,945 shares in the company, valued at approximately $29,417,490.45. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.45% of the stock is owned by corporate insiders.

About UMB Financial

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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