Assenagon Asset Management S.A. Has $2.50 Million Stock Holdings in UMB Financial Co. (NASDAQ:UMBF)

Assenagon Asset Management S.A. increased its holdings in shares of UMB Financial Co. (NASDAQ:UMBF) by 93.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 24,705 shares of the bank’s stock after purchasing an additional 11,916 shares during the period. Assenagon Asset Management S.A.’s holdings in UMB Financial were worth $2,498,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Truist Financial Corp lifted its holdings in shares of UMB Financial by 0.4% during the 4th quarter. Truist Financial Corp now owns 19,565 shares of the bank’s stock worth $2,208,000 after acquiring an additional 83 shares during the period. Covestor Ltd raised its position in UMB Financial by 28.8% in the 4th quarter. Covestor Ltd now owns 555 shares of the bank’s stock worth $63,000 after purchasing an additional 124 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in UMB Financial by 5.8% in the fourth quarter. EP Wealth Advisors LLC now owns 2,361 shares of the bank’s stock valued at $266,000 after acquiring an additional 130 shares during the last quarter. Heritage Family Offices LLP boosted its stake in UMB Financial by 7.6% in the first quarter. Heritage Family Offices LLP now owns 2,215 shares of the bank’s stock valued at $224,000 after acquiring an additional 156 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in UMB Financial by 0.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,144 shares of the bank’s stock worth $3,063,000 after buying an additional 202 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UMB Financial

In other news, CEO J Mariner Kemper sold 5,412 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $101.81, for a total value of $550,995.72. Following the transaction, the chief executive officer now owns 288,945 shares in the company, valued at $29,417,490.45. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.45% of the stock is currently owned by corporate insiders.

UMB Financial Stock Performance

Shares of UMB Financial stock opened at $100.73 on Tuesday. The company’s 50 day moving average price is $99.56 and its two-hundred day moving average price is $107.39. The firm has a market capitalization of $7.65 billion, a P/E ratio of 11.20 and a beta of 0.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75. UMB Financial Co. has a fifty-two week low of $79.25 and a fifty-two week high of $129.94.

UMB Financial (NASDAQ:UMBF) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.37. The company 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%. UMB Financial’s revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.47 earnings per share. On average, equities analysts forecast that UMB Financial Co. will post 9.66 earnings per share for the current fiscal year.

UMB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.59%. UMB Financial’s dividend payout ratio is currently 20.13%.

Analyst Ratings Changes

UMBF has been the topic of several research analyst reports. Wall Street Zen downgraded UMB Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Piper Sandler set a $135.00 target price on shares of UMB Financial and gave the company an “overweight” rating in a research note on Friday. Truist Financial initiated coverage on shares of UMB Financial in a research report on Tuesday, May 13th. They set a “buy” rating and a $120.00 price objective for the company. Royal Bank of Canada lowered their price objective on UMB Financial from $128.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 1st. Finally, Bank of America started coverage on UMB Financial in a research report on Wednesday, April 16th. They set a “buy” rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.88.

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.