UMB Financial (UMBF) Reports Earnings Tomorrow: What To Expect
Regional banking company UMB Financial (NASDAQ:UMBF) will be reporting earnings this Tuesday after market close. Here’s what to expect.
UMB Financial beat analysts’ revenue expectations last quarter, reporting revenues of $744.8 million, up 29.3% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ net interest income estimates.
Is UMB Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting UMB Financial’s revenue to grow 10.7% year on year, slowing from the 65.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. UMB Financial has a history of exceeding Wall Street’s expectations.
Looking at UMB Financial’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Hilltop Holdings reported revenues up 7.5%, topping estimates by 3.4%. OFG Bancorp traded up 4.2% following the results while Hilltop Holdings was also up 3%.
Read our full analysis of OFG Bancorp’s results here and Hilltop Holdings’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. UMB Financial’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $157.77 (compared to the current share price of $141.20).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.