Umb Financial Stock Price, News & Analysis

UMB Financial Corporation (Nasdaq: UMBF) reported strong second-quarter 2022 results with a net income of $137.6 million, or $2.83 per diluted share, up from $106.0 million in Q1 2022. Operating pre-tax, pre-provision income rose 56.7% to $187.1 million. Average loans increased 8.9% year-over-year, while average deposits grew 13.7%. The net interest margin expanded to 2.60%. A pre-tax gain of $66.2 million from selling Visa shares bolstered results, though net charge-offs rose due to a significant write-down on a commercial relationship. The company declared a $0.37 dividend payable on October 3, 2022.

UMB Financial Corporation (Nasdaq: UMBF) will release its second quarter 2022 earnings results on July 26, 2022. An investor conference call is scheduled for July 27, 2022 at 9:30 a.m. (CT) to discuss these results. Interested investors can join the call at the provided toll-free number or access it online. A replay will be available until August 10, 2022. UMB Financial offers diverse financial services, including commercial and personal banking, and operates in multiple states.

UMB Financial Corporation (Nasdaq: UMBF) announced an agreement to acquire the health savings account (HSA) business of Old National Bank (Nasdaq: ONB). The deal involves approximately $500 million in client assets, enhancing UMB's direct-to-employer business with around 157,000 accounts across more than 3,000 employer groups. The transaction is part of UMB's strategy for growth in the HSA sector, aiming to leverage synergies from the experienced team transitioning from Old National. The acquisition is pending regulatory approval and expected to close in Q4 2022.

Intain Inc has launched a verification agent module for its Intain Admin platform, enhancing automated loan processing capabilities using artificial intelligence. This upgrade aims to reduce errors, cut costs, and expedite administration in structured finance. UMB Financial Corporation is the first to implement this module, improving efficiency in loan attribute validation. Intain's innovation supports better transaction servicing for financial institutions, potentially boosting their position in the market for verified loan pools. The introduction of blockchain technology aims to attract more institutional investors to the private structured credit market.

UMB Bank has donated $400,000 to CHES, Inc. to enhance credit scores for underserved communities via the rent-reporting platform Esusu. This partnership aims to assist clients in improving their credit ratings by reporting up to 24 months of on-time rent payments to major credit bureaus like Equifax and Transunion. CHES has been active in the Kansas City area since 2010, providing financial empowerment programs that help low-to-moderate income households achieve financial sustainability and readiness for homeownership.

UMB Financial Corporation (Nasdaq: UMBF) reported a strong financial performance for Q1 2022, achieving a GAAP net income of $106.0 million, or $2.17 per diluted share, marking a robust increase from $78.5 million in Q4 2021. Average loans and deposits increased by 19.1% and 21.5% respectively on an annualized basis. The company saw a 10.9% rise in pre-tax, pre-provision income (PTPP-FTE) compared to Q4 2021. Credit quality remained steady with net charge-offs at 0.20% of average loans. A $0.37 per share quarterly dividend was declared, demonstrating a return of capital to shareholders.

UMB Financial Corporation (NASDAQ: UMBF) will announce its first quarter 2022 earnings after market hours on April 26, 2022. An investor conference call to discuss the results is scheduled for April 27, 2022, at 8:30 a.m. (CT). Interested parties can access the call by dialing 844-200-6205 (toll-free) or 929-526-1599 (international). A replay will be available until May 11, 2022, by calling 866-813-9403. UMB Financial provides a range of financial services across several states, focusing on commercial and personal banking.

The board of directors of Molson Coors Beverage Company (NYSE: TAP) has nominated Leroy J. Williams, Jr. as an independent director for election at the Annual Meeting on May 18, 2022. Williams, CEO of CyberTekIQ, LLC, brings extensive experience from cybersecurity to business development. His past roles include Global Chief Information Officer at Ball Corporation and various cabinet positions in Colorado. His election is expected to enhance the board's strategic guidance as the company continues its growth trajectory.

UMB Financial Corporation reported a Q4 2021 net income of $78.5 million, or $1.61 per diluted share, a decline from $94.5 million in Q3 2021 and $156.3 million in Q4 2020. Net operating income was $78.9 million, down from $95.1 million linked quarter. Average loans increased 5.7% and average deposits grew 26.7% year-over-year. However, noninterest income dropped 48% year-over-year due to reduced investment securities gains. The bank declared a dividend of $0.37 per share, payable April 1, 2022, signifying ongoing shareholder returns amidst fluctuating earnings.