Zurich Insurance Group Ltd FI Sells 43,486 Shares of UMB Financial Co. (NASDAQ:UMBF)

Zurich Insurance Group Ltd FI lessened its stake in shares of UMB Financial Co. (NASDAQ:UMBF - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 418,228 shares of the bank's stock after selling 43,486 shares during the quarter. Zurich Insurance Group Ltd FI owned approximately 0.86% of UMB Financial worth $47,201,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Covestor Ltd raised its holdings in shares of UMB Financial by 28.8% during the fourth quarter. Covestor Ltd now owns 555 shares of the bank's stock valued at $63,000 after purchasing an additional 124 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of UMB Financial during the fourth quarter worth about $96,000. Steward Partners Investment Advisory LLC bought a new stake in UMB Financial in the 4th quarter worth about $103,000. R Squared Ltd bought a new stake in UMB Financial in the 4th quarter worth about $117,000. Finally, HighTower Advisors LLC bought a new stake in UMB Financial in the 4th quarter worth about $201,000. Institutional investors own 87.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on UMBF shares. Wall Street Zen downgraded shares of UMB Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Morgan Stanley lowered their target price 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. Wells Fargo & Company increased their target price on shares of UMB Financial from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Bank of America began coverage on shares of UMB Financial in a research report on Wednesday, April 16th. They set a "buy" rating and a $105.00 price objective on the stock. Finally, Piper Sandler restated an "overweight" rating and set a $137.00 price objective (up previously from $132.00) on shares of UMB Financial in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, UMB Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.33.

UMB Financial Trading Down 0.6%

UMB Financial stock traded down $0.63 during trading hours on Friday, reaching $101.50. The stock had a trading volume of 633,990 shares, compared to its average volume of 518,064. The stock has a market cap of $7.71 billion, a PE ratio of 11.29 and a beta of 0.72. UMB Financial Co. has a 52 week low of $78.56 and a 52 week high of $129.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. The company has a fifty day simple moving average of $98.10 and a 200-day simple moving average of $109.62.

UMB Financial (NASDAQ:UMBF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.37. The business had revenue of $563.84 million for the quarter, compared to analyst estimates of $555.79 million. UMB Financial had a net margin of 15.76% and a return on equity of 13.73%. The company's revenue was up 41.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 EPS. Analysts forecast that UMB Financial Co. will post 9.66 EPS for the current fiscal year.

UMB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 10th. UMB Financial's payout ratio is 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.