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UMB (UMBF) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
In the largest acquisition in UMB Finanical's (UMBF) history, the bank will acquire Heartland Financial, increase total assets by more than 40% and expand its geographic footprint.
UMB Financial Corporation (NASDAQ:UMBF ) Q1 2024 Earnings Conference Call May 1, 2024 9:30 AM ET Company Participants Kay Gregory - Investor Relations Mariner Kemper - Chairman and CEO Ram Shankar - Chief Financial Officer Jim Rine - Chief Executive Officer, UMB Bank Tom Terry - Chief Credit Officer Conference Call Participants Timur Braziler - Wells Fargo Chris McGratty - KBW Jared Shaw - Barclays Terry McEvoy - Stephens, Inc. David Long - Raymond James Operator Ladies and gentlemen, thank you for standing by. Welcome to the UMB Financial Conference Call.
UMB Financial's (UMBF) first-quarter 2024 earnings reflect higher loan and deposit balances, as well as lower provisions. However, lower NII and a rise in expenses are near-term concerns.
While the top- and bottom-line numbers for UMB (UMBF) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Heartland Financial USA Inc. HTLF, +0.68% said Monday it agreed to be acquired by UMB Financial Corp. UMBF, -0.59% in an all-stock deal valued at about $2 billion. Heartland Financial stockholders will receive 0.55 shares of UMB common stock for each share that they own.
UMB Financial (UMBF) gains from growth in loan and deposit balance as well as solid liquidity. Yet, rising costs, lack of loan portfolio diversification and fierce competition are major woes.
UMB (UMBF) reported earnings 30 days ago. What's next for the stock?
UMB Financial (UMBF) is well-poised to gain from higher interest rates, solid loan and deposit balance and strong balance sheet position.
UMB Financial's (UMBF) Q4 earnings reflect higher non-interest income, an increase in loans and deposit balances as well as nil provisions. Lower NII and a rise in expenses act as undermining factors.