- Average deposits reached $55.65 billion, showing an 11% increase quarter-over-quarter, but missed the estimate of $57.93 billion.
- Provision for credit losses was $21.0 million, up 49% year-over-year, and below the estimated $28.3 million.
- Net interest income was reported at $467.0 million, surpassing the estimate of $449.9 million.
- The adjusted operating EPS was $2.96, improving from $2.16 year-over-year, and above the estimate of $2.37.
- The efficiency ratio stood at 53.4%.
- Total revenue grew significantly by 77% year-over-year to $689.2 million, exceeding the estimate of $637.3 million.
- Net charge-offs amounted to $15.5 million, up from $2.86 million year-over-year, but lower than the estimated $20 million.
- The net charge-offs ratio was 0.17%, compared to 0.05% year-over-year, and below the estimate of 0.21%.
- Return on average equity remained steady at 12.7% year-over-year, outperforming the estimated 10.8%.
- The net interest margin expanded by 14 basis points sequentially to 3.10%, supported by Heartland’s granular core deposit base.
- Market sentiment includes 8 buy ratings, 3 hold ratings, and no sell ratings.
A look at Umb Financial Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
UMB Financial Corporation, a multi-bank holding company providing a range of financial services to individuals and businesses across several states, shows a promising long-term outlook according to the Smartkarma Smart Scores. With high scores in Value, Resilience, and Momentum, UMB Financial appears to be well-positioned for steady growth and stability. The company’s strong value score indicates that it may be undervalued in the market, presenting an opportunity for investors looking for potential long-term gains.
Additionally, UMB Financial’s solid scores in Resilience and Momentum suggest that it has the ability to weather economic uncertainties and maintain its positive performance trajectory. While the Growth and Dividend scores are average, the overall outlook for UMB Financial seems positive, making it an intriguing option for investors seeking a balanced investment opportunity in the financial sector.
Summary: UMB Financial Corporation is a multi-bank holding company providing comprehensive banking, asset management, health spending solutions, and related financial services nationwide. Its banking subsidiaries operate across various states, including Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, and Arizona.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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