UMB Financial Posts $278.1M Third-Quarter Net Income
UMBF sits 29% above its 52-week low of $103.38.
Summary
UMB Financial reported third-quarter net income of $278.1 million, up from $271.8 million in the second quarter, with earnings per share of $3.56. The sequential gain extends the momentum from Q2, when net income rose 26% year over year on wider margins and strong loan growth. The headline gives only the bottom line and the per-share figure, with no revenue, margin, or credit detail, so the quality of the beat is not yet clear. Watch for the full release and any 10-Q filing for the net interest margin and provision lines that determine whether this is a clean quarter.
At the time of this announcement, UMBF was trading at $133.80 on NASDAQ in the Finance sector, with a market capitalization of approximately $10.2B. The 52-week trading range was $103.38 to $153.32. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.