UMB Financial CorporationUMBF
▼ NegativeCapitalrelevance
Shares fell 3.3% since Q2 beat despite earnings beat, with credit quality deterioration and flat margin outlook.
Impact on stocks 1
Financials
UMB Financial CorporationUMB Financial Corporation's shares have fallen 3.3% since its second-quarter earnings report, underperforming the S&P 500, but the company beat expectations with adjusted operating earnings per share of $3.57 versus the consensus estimate of $3.08. Net income available to common shareholders rose 26.2% year over year to $271.8 million, driven by a 14% increase in net interest income and a 10.5% rise in non-interest income. The company also reported strong loan growth, with average loans up 11.6% year over year to $40.6 billion, and improved capital ratios. However, credit quality deteriorated, with non-accrual and restructured loans rising to $127.5 million from $97 million a year ago. Management expects core net interest margin to remain relatively flat in the third quarter and operating noninterest expense to be approximately $390 million. Estimates have trended upward over the past month, and the stock carries a Zacks Rank #3 (Hold).
UMB Financial CorporationShares fell 3.3% since Q2 beat despite earnings beat, with credit quality deterioration and flat margin outlook.