Zurich Insurance Group Ltd FI Purchases 46,471 Shares of 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 lifted its stake in UMB Financial Corporation (NASDAQ:UMBF - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 approximately 0.61% of UMB Financial worth $46,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Stifel Financial Corp acquired a new stake in UMB Financial during the fourth quarter worth $219,000. BNP Paribas Financial Markets boosted its stake in UMB Financial by 70.8% during the fourth quarter. BNP Paribas Financial Markets now owns 38,462 shares of the bank's stock worth $4,341,000 after buying an additional 15,949 shares in the last quarter. Cetera Investment Advisers acquired a new stake in UMB Financial during the fourth quarter worth $238,000. EP Wealth Advisors LLC boosted its stake in UMB Financial by 5.8% during the fourth quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank's stock worth $266,000 after buying an additional 130 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in UMB Financial by 16.4% during the fourth quarter. Deutsche Bank AG now owns 88,320 shares of the bank's stock worth $9,968,000 after buying an additional 12,423 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company's stock.

UMB Financial Price Performance

Shares of NASDAQ UMBF traded down $1.08 during midday trading on Friday, reaching $120.60. 323,188 shares of the company traded hands, compared to its average volume of 487,201. The firm has a market cap of $9.16 billion, a PE ratio of 13.86, a PEG ratio of 1.37 and a beta of 0.77. The stock's 50-day simple moving average is $112.89 and its 200-day simple moving average is $104.93. UMB Financial Corporation has a 12 month low of $82.00 and a 12 month high of $129.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.77.

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

UMB Financial Dividend Announcement

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

UMBF has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of UMB Financial from $135.00 to $148.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their price target on shares of UMB Financial from $115.00 to $122.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Truist Financial lifted their price target on shares of UMB Financial from $130.00 to $144.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Wells Fargo & Company lifted 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 note on Friday, August 1st. Finally, Raymond James Financial lifted their price objective on UMB Financial from $135.00 to $138.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $133.89.

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.