Zurich Insurance Group Ltd FI Increases Stock Holdings in UMB Financial Corporation $UMBF

Key Points

• Zurich Insurance Group Ltd FI increased its stake in UMB Financial Corporation by 11.1%, owning approximately 0.61% of the company, which is valued at $46.98 million.
• Hedge funds have significantly increased their positions in UMB Financial, with Brooklyn Investment Group raising its stake by 4,840% in the first quarter, highlighting strong institutional interest.
• UMB Financial announced a quarterly dividend of $0.40 per share, which will be paid on October 1st, representing a dividend yield of 1.3%.

Zurich Insurance Group Ltd FI increased its position in shares of UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,699 shares of the bank's stock after acquiring an additional 46,471 shares during the period. Zurich Insurance Group Ltd FI owned about 0.61% of UMB Financial worth $46,981,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of UMBF. Vanguard Group Inc. lifted its stake in UMB Financial by 54.0% during the 1st quarter. Vanguard Group Inc. now owns 7,332,764 shares of the bank's stock worth $741,342,000 after acquiring an additional 2,570,283 shares in the last quarter. Earnest Partners LLC acquired a new position in UMB Financial during the 1st quarter worth about $144,351,000. Dimensional Fund Advisors LP lifted its stake in UMB Financial by 78.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,700,678 shares of the bank's stock worth $273,029,000 after acquiring an additional 1,185,671 shares in the last quarter. Nuveen LLC acquired a new position in UMB Financial during the 1st quarter worth about $51,324,000. Finally, Wellington Management Group LLP increased its holdings in UMB Financial by 19.1% during the 1st quarter. Wellington Management Group LLP now owns 2,407,115 shares of the bank's stock worth $243,359,000 after purchasing an additional 385,830 shares during the period. Institutional investors and hedge funds own 87.78% of the company's stock.

Insider Activity

In related news, insider Shannon Andresen Johnson sold 1,367 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $120.58, for a total transaction of $164,832.86. Following the transaction, the insider owned 34,124 shares in the company, valued at $4,114,671.92. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Phillip James Mason sold 750 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $120.97, for a total value of $90,727.50. Following the transaction, the insider owned 8,815 shares in the company, valued at $1,066,350.55. This represents a 7.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 678 shares of company stock worth $75,948 and have sold 20,845 shares worth $2,440,666. 5.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price objective on UMB Financial from $135.00 to $148.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Wells Fargo & Company lifted their price objective on UMB Financial from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Barclays lifted their price objective on UMB Financial from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted 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 objective on UMB Financial from $130.00 to $144.00 and gave the company a "buy" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, UMB Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.89.

UMB Financial Stock Down 0.9%

Shares of NASDAQ UMBF traded down $1.08 during midday trading on Friday, hitting $120.60. 323,188 shares of the company's stock were exchanged, compared to its average volume of 647,487. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.77 and a quick ratio of 0.77. UMB Financial Corporation has a twelve month low of $82.00 and a twelve month high of $129.94. The company has a market cap of $9.16 billion, a PE ratio of 13.86, a P/E/G ratio of 1.39 and a beta of 0.77. The firm's fifty day simple moving average is $112.70 and its 200-day simple moving average is $104.84.

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, topping the consensus estimate of $2.35 by $0.61. The business had revenue of $689.21 million for 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 quarterly revenue was up 76.7% on a year-over-year basis. During the same quarter last year, the company earned $2.16 EPS. Research analysts predict that UMB Financial Corporation will post 9.66 EPS for the current fiscal year.

UMB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, September 10th. UMB Financial's dividend payout ratio (DPR) is currently 18.39%.

UMB Financial 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.