Zurcher Kantonalbank Zurich Cantonalbank increased its stake in UMB Financial Co. shares (NASDAQ: UMBF – Get a rating) by 9.3% in the 1st quarter, Holdings Channel.com reports. The fund held 6,303 shares of the bank after buying an additional 538 shares during the period. Zurcher Kantonalbank Zurcher Kantonalbank’s holdings in UMB Financial were worth $612,000 at the end of the last quarter.
A number of other big investors have also recently changed their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in UMB Financial stock in Q4, valued at approximately $179,610,000. UMB Bank NA MO increased its position in UMB Financial by 21.5% during the 4th quarter. UMB Bank NA MO now owns 5,957,224 shares of the bank valued at $632,121,000 after purchasing an additional 1,055,926 shares during the period. Millennium Management LLC increased its stake in UMB Financial by 192.7% during the 4th quarter. Millennium Management LLC now owns 392,069 shares of the bank worth $41,602,000 after purchasing an additional 258,108 shares in the last quarter. Boston Trust Walden Corp increased its position in UMB Financial shares by 34.5% in the first quarter. Boston Trust Walden Corp now owns 822,596 shares of the bank worth $79,924,000 after purchasing an additional 211,067 shares during the period. Finally, State Street Corp increased its position in UMB Financial by 8.4% during the fourth quarter. State Street Corp now owns 2,046,696 shares of the bank valued at $217,853,000 after acquiring an additional 157,980 shares in the last quarter. 87.26% of the shares are held by institutional investors and hedge funds.
Shares of NASDAQ: UMBF opened at $85.96 on Thursday. The company has a debt ratio of 0.10, a quick ratio of 0.69 and a current ratio of 0.69. UMB Financial Co. has a 52-week low of $81.57 and a 52-week high of $112.24. The company’s 50-day simple moving average is $88.49 and its two-hundred-day simple moving average is $96.21. The company has a market capitalization of $4.16 billion, a P/E ratio of 11.45 and a beta of 0.92.
UMB Financial (NASDAQ: UMBF – Get a rating) last reported results on Tuesday, April 26. The bank reported earnings per share (EPS) of $2.17 for the quarter, beating analyst consensus estimates of $1.65 by $0.52. UMB Financial achieved a return on equity of 12.16% and a net margin of 26.95%. The company posted revenue of $340.43 million for the quarter, compared to $332.57 million expected by analysts. During the same period last year, the company achieved EPS of $1.91. On average, stock analysts expect UMB Financial Co. to post earnings per share of 8.21 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Friday, June 10 received a dividend of $0.37 per share. This represents an annualized dividend of $1.48 and a dividend yield of 1.72%. The ex-dividend date was Thursday, June 9. UMB Financial’s dividend payout ratio is currently 19.71%.
Several brokerages have recently commented on the UMBF. Raymond James cut his price target on UMB Financial from $113.00 to $108.00 and gave the stock an “outperform” rating in a Thursday, July 7 research report. StockNews.com upgraded UMB Financial’s shares from a “sell” rating to a “hold” rating in a Sunday May 1 research report. Finally, Wells Fargo & Company lowered its price target on UMB Financial shares from $110.00 to $100.00 in a Thursday, April 28 research report.
About UMB Financial (Get a rating)
UMB Financial Corporation operates as a bank holding company for UMB bank which provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit cards; commercial real estate financing; letter of credit; loan syndication and advisory service; various business solutions, including asset-based lending, accounts receivable financing, mezzanine debt and minority equity investments; and cash management service, such as deposit service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic funds transfer and automated payment, controlled disbursement, vault service and input service remote filing.
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