An increase in NII & Fee income, along with rising loans & deposits, supports UMBF's Q3 2024 results. Higher costs & provisions are headwinds.
While the top- and bottom-line numbers for UMB (UMBF) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
UMB Financial (UMBF) came out with quarterly earnings of $2.25 per share, beating the Zacks Consensus Estimate of $2.16 per share. This compares to earnings of $2.02 per share a year ago.
Shares of Missouri-based UMB Financial have recovered most of their lost ground over the past 12 months. This bank has typically excelled on asset quality, meaningfully outperforming the industry in terms of net charge-offs. The deal to acquire Heartland Financial looks solid from UMB's perspective, pointing to strong EPS growth ahead.
Does UMB Financial (UMBF) have what it takes to be a top stock pick for momentum investors? Let's find out.
UMBF's diversified fee income sources and inorganic growth efforts, along with the Fed's potential rate cut, make the stock a lucrative pick.
UMB (UMBF) reported earnings 30 days ago. What's next for the stock?
UMB Financial (UMBF) is well poised to benefit from strength in its balance sheet position. Rising costs and intense competition remain concerns.
UMB (UMBF) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
UMB Financial stock rallied 3% after strong Q2 results, up 47% for the year, as it has weathered the downturn in CRE loan quality exceptionally well. Deposit growth has been strong and despite higher deposit costs, its focus on institutional clients should generate further growth. Loan quality has been stellar, with low delinquencies and its conservative lending model blunting CRE risk, making UMB well-positioned for potential credit losses.
UMB Financial Corporation (NASDAQ:UMBF ) Q2 2024 Earnings Conference Call July 31, 2024 9:30 AM ET Company Participants Kay Gregory - Investor Relations Mariner Kemper - President & Chief Executive Officer Ram Shankar - Chief Financial Officer Jim Rine - Chief Executive Officer, UMB Bank Tom Terry - Chief Credit Officer Conference Call Participants Jared Shaw - Barclays Chris McGratty - KBW Nathan Race - Piper Sandler John Rodis - Janney Timur Braziler - Wells Fargo Operator Good morning. Thank you for attending today's UMB Financial Second Quarter 2024 Financial Results Call.
UMB Financial's (UMBF) second-quarter 2024 earnings benefit from a rise in loan and deposit balances, along with higher fee income. However, an increase in costs and provisions acts as headwinds.