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UMB Financial Corporation (UMBF) Q2 2026 Earnings Call July 29, 2026 9:30 AM EDT

Company Participants

Kay Gregory - Director of Investor Relations & Senior VP
J. Kemper - Chairman & CEO
Ram Shankar - Executive VP & CFO
James Rine - President & Vice Chairman

Conference Call Participants

Jon Arfstrom - RBC Capital Markets, Research Division
Christopher McGratty - Keefe, Bruyette, & Woods, Inc., Research Division
Casey Haire
Sun Young Lee - TD Cowen, Research Division
Adam Kroll - Piper Sandler & Co., Research Division
Brian Wilczynski - Morgan Stanley, Research Division

Presentation

Operator

Hello, and thank you for standing by. My name is Dennis, and I will be your conference operator today. At this time, I would like to welcome everyone to the UMB Financial Second Quarter 2026 Financial Results Conference Call. [Operator Instructions]

I would now like to turn the call over to Kay Gregory with Investor Relations. Please go ahead.

Kay Gregory
Director of Investor Relations & Senior VP

Good morning, and welcome to our second quarter 2026 call. Mariner Kemper, Chairman and CEO; and Ram Shankar, CFO, will share a few comments about our results, and then we'll open the call for questions from equity research analysts. Jim Rine, President of the holding company and CEO of UMB Bank, along with Tom Terry, Chief Credit Officer, will be available for the question-and-answer session.

Before we begin, let me remind you that today's presentation contains forward-looking statements, including the discussion of future financial and operating results as well as other opportunities management foresees. Forward-looking statements and any pro forma metrics are subject to assumptions, risks and uncertainties as outlined in our SEC filings and summarized in our presentation on Slide 48.

Actual results may differ from those set forth in forward-looking statements, which speak only as of today. We undertake no obligation to update

Key Takeaways UMB Financial beat Q2 earnings estimates on higher net interest income and revenue growth.UMBF expanded its net interest margin as favorable deposit repricing and loan growth boosted the results.UMB Financial improved efficiency and capital ratios despite higher expenses and credit loss provisions. UMB Financial Corp. (UMBF - Free Report) reported second-quarter 2026 adjusted operating earnings per share of $3.57, beating the Zacks Consensus Estimate of $3.08. The bottom line also increased from $2.96 in the year-ago quarter.

The company delivered a strong quarterly performance, supported by solid growth in net interest income (NII), higher non-interest income and continued loan growth. Improved efficiency and strong credit quality further supported the results.

Results include certain non-recurring items. After considering those, net income (GAAP basis) available to common shareholders for UMBF was $271.8 million in the second quarter, up 26.2% from the year-ago quarter.

UMB Financial’s Revenues & Expenses RiseQuarterly revenues were $786.9 million, rising 14.2% year over year. The metric beat the Zacks Consensus Estimate by 8.4%.

NII was $532.5 million, up 14% from the prior-year quarter.

On a fully-taxable-equivalent basis, the net interest margin was 3.32%, up 22 basis points year over year. The increase was primarily driven by favorable deposit repricing following lower short-term interest rates and growth in average loans and securities.

Non-interest income was $245.5 million, up 10.5% year over year. The increase was primarily driven by higher trust and securities processing income, other income, and brokerage income. These increases were partially offset by lower investment securities gains.

Non-interest expenses were $399.6 million, up 1.6% year over year. Second-quarter 2026 expenses included $1.7 million in total acquisition-related and other non-recurring costs. Operating non-interest expenses (adjusted basis) were $398 million, up 4.7% year over year.

The efficiency ratio declined to 48.4% from the prior-year quarter’s 53.4%. A decline in the efficiency ratio indicates an increase in profitability.

UMBF’s Loans & Deposit Balances RiseAverage loans for the second quarter were $40.6 billion, up 3.2% sequentially and 11.6% from the prior-year quarter. End-of-period loans stood at $41.1 billion as of June 30, 2026.

Average deposits remained flat sequentially and increased 3.5% year over year to $57.6 billion. Average interest-bearing deposits increased 3.9%, while non-interest-bearing demand deposit balances rose 2.1% from the prior-year quarter.

UMB Financial’s Credit Quality DeterioratesNet charge-offs totaled $15.9 million, or 0.16% of average loans, compared with $15.5 million, or 0.17%, in the year-ago quarter.

Total non-accrual and restructured loans were $127.5 million compared with $97 million in the year-ago quarter.

The provision for credit losses was $28 million in the second quarter of 2026, up from $21 million in the prior-year quarter.

UMBF’s Capital Ratios ImproveAs of June 30, 2026, the Tier 1 risk-based capital ratio was 12.02% compared with 11.24% as of June 30, 2025. The Tier 1 leverage ratio was 9.11% compared with 8.34% in the year-ago quarter. The total risk-based capital ratio was 13.80%, up from 13.46% a year ago.

In the second quarter of 2026, the company repurchased 38,158 common shares at a weighted average price of $132.10 for a total repurchase of $5 million.

UMB Financial’s Profitability Ratios ImproveReturn on average assets at the second-quarter end was 1.55% compared with the year-ago quarter’s 1.29%.

Return on average common equity was 14.16% compared with 12.72% in the year-ago quarter.

Our Take on UMBFUMB Financial posted robust second-quarter 2026 results, driven by strong NII growth, higher non-interest income, continued loan growth, the impacts of acquired Heartland Financial balances and improved operating efficiency. However, higher non-interest expenses and provision for credit losses were concerns. Going forward, continued balance sheet growth, disciplined expense management and prudent risk management will be the key to sustaining UMBF’s performance momentum. 

UMBF currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Performances of Other BanksFirst Horizon Corporation (FHN - Free Report) posted second-quarter 2026 earnings per share of 54 cents, surpassing the Zacks Consensus Estimate of 52 cents. This compares favorably with 45 cents in the year-ago quarter.

FHN’s results benefited from higher NII and non-interest income, along with a lower provision for credit losses. Higher loan and deposit balances also provided support. However, rising expenses and weaker capital ratios were headwinds.

M&T Bank Corporation (MTB - Free Report) reported second-quarter net operating earnings per share of $5.35, which beat the Zacks Consensus Estimate of $4.66. The bottom line compared favorably with earnings of $4.28 in the year-ago quarter.

MTB’s results were aided by higher NII and a rise in non-interest income on a year-over-year basis, along with loan growth. However, higher expenses acted as headwinds.

UMB Financial (UMBF - Free Report) came out with quarterly earnings of $3.57 per share, beating the Zacks Consensus Estimate of $3.08 per share. This compares to earnings of $2.96 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +15.91%. A quarter ago, it was expected that this bank holding company would post earnings of $2.82 per share when it actually produced earnings of $3.41, delivering a surprise of +20.92%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

UMB, which belongs to the Zacks Banks - Midwest industry, posted revenues of $786.86 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.41%. This compares to year-ago revenues of $689.21 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

UMB shares have added about 22.5% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for UMB?While UMB has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for UMB was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.16 on $738.71 million in revenues for the coming quarter and $12.76 on $2.97 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the broader Zacks Finance sector, Gladstone Capital (GLAD - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 4.

This real estate investment trust is expected to post quarterly earnings of $0.49 per share in its upcoming report, which represents a year-over-year change of -2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Gladstone Capital's revenues are expected to be $24.97 million, up 15.3% from the year-ago quarter.

KANSAS CITY, Mo.--(BUSINESS WIRE)--UMB Financial Corporation declares common and preferred dividends; Common dividend represents 16.3% increase to $0.50 per common share.

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What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: UMB Financial (UMBF - Free Report) Headquartered in Kansas City, MO, UMB Financial Corporation provides banking services and asset servicing in the United States. Its banking subsidiary — UMB Bank, National Association — offers banking, asset management, trust, credit card and cash-management services to commercial, retail, government and correspondent-bank customers.

UMBF is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 11.44; value investors should take notice.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.03 to $12.76 per share. UMBF boasts an average earnings surprise of +17.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, UMBF should be on investors' short list.

Investors choosing between iShares Morningstar Small Cap Value ETF (ISCV 0.01%) and iShares Russell 2000 Value ETF (IWN +0.18%) must weigh the former's significantly lower expense ratio against the latter's massive liquidity and higher recent total returns.

Both ISCV and IWN serve as tools for investors seeking exposure to undervalued small-cap companies. While they share a similar mission, they use different indexing strategies and sampling techniques to capture the performance of the smaller-company value segment, resulting in distinct risk and reward profiles.

Snapshot (cost & size)MetricIWNISCVIssueriSharesiSharesShare price (as of July 2, 2026)$221.33$78.79Expense ratio0.24%0.06%1-yr return (as of July 2, 2026)37.4%26.3%Dividend yield1.4%1.9%Beta1.010.98AUM$14.4 billion$685.2 millionBeta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.

ISCV is the more affordable option with an expense ratio of 0.06%, compared to 0.24% for the Russell-based fund. Additionally, the iShares Morningstar ETF provides a higher trailing-12-month dividend yield of 1.9% versus 1.4% for its counterpart.

Performance & risk comparisonMetricIWNISCVMax drawdown (5 yr)(26.7%)(25.3%)Growth of $1,000 over 5 years (total return)$1,472$1,493What's insideISCV targets companies within the Morningstar US Small Cap Broad Value Extended Index. Its sector allocation focuses on financial services at 23%, consumer cyclical at 15%, and industrials at 12%. The fund's largest positions include Host Hotels & Resorts REIT (HST 0.58%) at 0.51%, Best Buy (BBY +0.01%) at 0.49%, and Jazz Pharmaceuticals (JAZZ +0.29%) at 0.49%. ISCV holds 1,052 stocks and was launched in 2004. It has paid $1.45 per share over the trailing 12 months.

IWN seeks to replicate the Russell 2000 Value Index, which includes companies with lower price-to-book ratios and lower forecast growth values. Its portfolio tilts toward financial services at 24%, industrials at 12%, and technology at 12%. Its largest positions include Viasat (VSAT +0.89%) at 0.68%, Cytokinetics (CYTK 0.88%) at 0.66%, and Umb Financial (UMBF +0.42%) at 0.63%. IWN holds 1,406 stocks and was launched in 2000. It has paid $3.19 per share over the trailing 12 months.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsIWN and ISCV have pretty comparable five-year returns. IWN has a higher expense ratio, but it's nothing outrageous. Both are well-diversified, with over a thousand stocks each, and the weightings are spread so that no single position accounts for more than 1% of either portfolio.

One area of contrast is their size. IWN has more than $14 billion in assets under management, while ISCV doesn't even crack the billion-dollar level. This size differential has knock-on effects. For example, IWN has far higher average trading volume than the Morningstar ETF. Some investors may therefore prefer IWN for its higher liquidity, even though it has a lower dividend yield.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: UMB Financial (UMBF - Free Report) Headquartered in Kansas City, MO, UMB Financial Corporation provides banking services and asset servicing in the United States. Its banking subsidiary — UMB Bank, National Association — offers banking, asset management, trust, credit card and cash-management services to commercial, retail, government and correspondent-bank customers.

UMBF is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 11.42; value investors should take notice.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.03 to $12.76 per share. UMBF boasts an average earnings surprise of +17.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, UMBF should be on investors' short list.

Key Takeaways UMBF's arm integrates iCapital DLT to streamline onboarding, subscriptions and fund servicing workflows.The platform enables shared data exchange, reducing reconciliation across participants.Integration is expected to enhance scalability across UMBF's alternative investment servicing. UMB Financial Corporation’s (UMBF - Free Report) wholly-owned subsidiary, UMB Fund Services (“UMBFS”), a provider of fund administration and transfer agency services, has integrated iCapital’s distributed ledger technology (DLT) into its alternative investment servicing infrastructure.

The implementation expands iCapital’s blockchain-enabled network into UMBF’s operating model, enabling a shared data framework across onboarding, subscription processing and fund servicing workflows. The move is designed to improve operational efficiency, reduce manual touchpoints and support scalable operations across the alternative investment ecosystem.

How iCapital’s DLT Enhances UMB Financial OperationsiCapital’s DLT is designed to create a shared framework for the exchange of investor and fund data across participants in the fund lifecycle, including investors, fund managers and administrators. By standardizing data across workflows, the platform enables more coordinated processing across the ecosystem.

With this integration, UMBFS can streamline core operational processes such as investor onboarding, subscription workflows and ongoing fund servicing. The system minimizes reconciliation requirements across multiple counterparties and streamlines end-to-end fund servicing workflows.

The platform also enhances scalability across UMBFS’ alternative investment servicing operations, allowing it to support increasing transaction volumes while maintaining operational efficiency. This is expected to support more efficient interaction across fund participants and position UMBFS to accommodate future growth in alternative investment servicing demand.

Additionally, the integration aligns UMBF with broader industry efforts to modernize private fund infrastructure through blockchain-based systems, as financial institutions increasingly adopt standardized and connected data frameworks to support more efficient and integrated alternative investment operations.

By embedding DLT into its operating model, UMBFS enhances its position in the growing private markets ecosystem. The platform also increases client stickiness by integrating UMBFS more deeply into fund operational workflows, making it more difficult for clients to switch providers. This, in turn, supports more stable recurring fee income streams over time and reinforces UMBF's institutional fund services franchise.

UMBF’s Price Performance & Zacks RankOver the past three months, shares of UMBF have gained 22.7% compared with the industry’s 5.7% increase.

Image Source: Zacks Investment Research

UMB Financial currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Firms Enhancing Alternative Investment PlatformsSimilar to UMBF, other financial firms are upgrading their alternative investment platforms to streamline operations and improve client servicing.

In February 2026, Itaú Unibanco Holding S.A. (ITUB - Free Report) expanded its partnership with iCapital to enhance private markets offerings through fully digitized workflows across its international private banking units, including Banco Itaú International and Banco Itaú (Suisse) SA. The initiative improves operational efficiency, data management and the end-to-end customer experience, reinforcing ITUB’s ongoing digital transformation in private markets.

Earlier, in November 2025, Morgan Stanley (MS - Free Report) deployed iCapital’s DLT to streamline alternative investment onboarding and pre-trade processing across its wealth management platform. The system standardizes subscription workflows and reduces manual reconciliation, supporting MS’s push to enhance efficiency and scalability in its alternatives business.

These developments highlight a broader industry shift toward blockchain-enabled, integrated infrastructure across the alternative investment ecosystem.

NEW YORK & KANSAS CITY, Mo.--(BUSINESS WIRE)--iCapital1, the global fintech company shaping the future of investing, today announced an integrated partnership with UMB Fund Services (UMBFS), a subsidiary of UMB Financial Corporation (NASDAQ: UMBF) and a national leader in registered and alternative investment fund administration services, to further expand the deployment of its distributed ledger technology (DLT) into the operating layer of fund administration. This collaboration extends iCapit.

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at UMB Financial (UMBF - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. UMB Financial currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market? In order to see if UMBF is a promising momentum pick, let's examine some Momentum Style elements to see if this bank holding company holds up.

Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.

For UMBF, shares are up 4.19% over the past week while the Zacks Banks - Midwest industry is up 4.1% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 5.84% compares favorably with the industry's 5.5% performance as well.

Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of UMB Financial have increased 20.81% over the past quarter, and have gained 33.26% in the last year. In comparison, the S&P 500 has only moved 14.27% and 27.78%, respectively.

Investors should also take note of UMBF's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now UMBF is averaging 582,019 shares for the last 20 days..

Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with UMBF.

Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost UMBF's consensus estimate, increasing from $11.89 to $12.73 in the past 60 days. Looking at the next fiscal year, 6 estimates have moved upwards while there have been no downward revisions in the same time period.

Bottom LineGiven these factors, it shouldn't be surprising that UMBF is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep UMB Financial on your short list.

KANSAS CITY, Mo.--(BUSINESS WIRE)--UMB Financial Corporation (Nasdaq: UMBF), a financial services company, announced net income available to common shareholders for the first quarter of 2026 of $255.6 million, or $3.35 per diluted share, compared to $209.5 million, or $2.74 per diluted share, in the fourth quarter of 2025 (linked quarter) and $79.3 million, or $1.21 per diluted share, in the first quarter of 2025.

Net operating income available to common shareholders, a non-GAAP financial measure reconciled later in this release to net income available to common shareholders, the nearest comparable GAAP measure, was $259.8 million, or $3.41 per diluted share, for the first quarter of 2026, compared to $235.2 million, or $3.08 per diluted share, for the linked quarter and $168.9 million, or $2.58 per diluted share, for the first quarter of 2025. Operating pre-tax, pre-provision income (operating PTPP), a non-GAAP measure reconciled later in this release to the components of net income before taxes, the nearest comparable GAAP measure, was $363.8 million, or $4.76 per diluted share, for the first quarter of 2026, compared to $329.1 million, or $4.31 per diluted share, for the linked quarter, and $233.3 million, or $3.57 per diluted share, for the first quarter of 2025. These operating PTPP results represent an increase of 10.5% on a linked-quarter basis and an increase of 55.9% compared to the first quarter of 2025.

“Our first quarter results are a continuation of the strong business momentum we are seeing across our lines of businesses,” said Mariner Kemper, UMB Financial Corporation chairman and chief executive officer.

“With a year under our belt since the consummation of the Heartland Financial acquisition, we are pleased with the outcomes and benefits derived from the merger. During the first quarter, average loans increased at a 10.8% annualized rate compared to the fourth quarter of 2025, aided by strong gross loan production of $2.3 billion which increased loan balances by $1.4 billion to $40.1 billion at March 31, 2026. Notwithstanding the geopolitical headlines, our borrowers remain resolute to handle any impacts from high gasoline prices and supply costs, as loan demand and our pipeline remain healthy. Other headlines around the private credit industry appear to exaggerate exposures and risks at regional banks. Private credit funds have and will always continue to be part of the capital formation ecosystem, and we are proud to partner with a few of the strongest players by providing asset servicing solutions to their funds. Our limited lending exposure to the private credit industry (<1% of total loans) is to high-quality operators who have diversified holdings, strong credit structures and covenants, and low leverage, all underwritten to low loan-to-value metrics. The U.S. economy remains on sound footing but prolonged inflation, high interest rates, and the Middle East crisis have the potential to pose some risks; at UMB, we manage our balance sheet and businesses to weather all economic cycles, through underwriting discipline and prudent risk management practices. Such discipline is exemplified in our first quarter asset quality metrics, with net charge-offs averaging a modest 19 basis points of loans. Finally, our operating efficiency ratio improved to 47.6%, compared to 55.6% in the first quarter of 2025, while our operating return on average common equity improved to 13.9% from 12.5%.”

Mr. Kemper continued, “During the first quarter, we repurchased approximately 178,000 common shares totaling $19.9 million in capital returned to shareholders. At the April meeting, the Board of Directors increased the share repurchase authorization to two million shares, from one million shares previously.”

First Quarter 2026 earnings discussion

Note: The acquisition of Heartland Financial USA, Inc. (HTLF) closed on January 31, 2025; as such, financial results for the fiscal periods since that date include the impact from the acquired operations. Financial results in the first quarter of 2025 include only two months of impact of the acquired operations of HTLF.

Summary of quarterly financial results

UMB Financial Corporation

(unaudited, dollars in thousands, except per common share data)

Q1

Q4

Q1

2026

2025

2025

Net income (GAAP)

$

261,438

$

215,355

$

81,333

Net income available to common shareholders (GAAP)

255,625

209,543

79,320

Earnings per common share - diluted (GAAP)

3.35

2.74

1.21

Operating pre-tax, pre-provision income (Non-GAAP)(i)

363,781

329,075

233,293

Operating pre-tax, pre-provision earnings per common share - diluted (Non-GAAP)(i)

4.76

4.31

3.57

Operating pre-tax, pre-provision income - FTE (Non-GAAP)(i)

372,494

337,837

240,798

Operating pre-tax, pre-provision earnings per common share - FTE - diluted (Non-GAAP)(i)

4.88

4.42

3.68

Net operating income available to common shareholders (Non-GAAP)(i)

259,809

235,206

168,878

Operating earnings per common share - diluted (Non-GAAP)(i)

3.41

3.08

2.58

GAAP

Return on average assets

1.47

%

1.20

%

0.54

%

Return on average common equity

13.70

11.27

5.86

Efficiency ratio

48.38

55.50

65.19

Non-GAAP(i)

Operating return on average assets

1.50

%

1.34

%

1.14

%

Operating return on average common equity

13.93

12.65

12.47

Operating efficiency ratio

47.64

50.82

55.56

  (i) See reconciliation of Non-GAAP measures to their nearest comparable GAAP measures later in this release.

Summary of revenue

UMB Financial Corporation

(unaudited, dollars in thousands)

Q1

Q4

Q1

CQ vs.

CQ vs.

2026

2025

2025

LQ

PY

Net interest income

$

534,366

$

522,500

$

397,639

$

11,866

$

136,727

Noninterest income:

Trust and securities processing

94,667

92,428

79,781

2,239

14,886

Trading and investment banking

7,740

6,198

5,911

1,542

1,829

Service charges on deposit accounts

29,474

27,734

27,457

1,740

2,017

Insurance fees and commissions

255

236

178

19

77

Brokerage fees

21,089

20,495

18,102

594

2,987

Bankcard fees

28,878

29,052

26,293

(174

)

2,585

Investment securities gains (losses), net

3,046

2,157

(4,782

)

889

7,828

Other

19,644

20,069

13,258

(425

)

6,386

Total noninterest income

$

204,793

$

198,369

$

166,198

$

6,424

$

38,595

Total revenue

$

739,159

$

720,869

$

563,837

$

18,290

$

175,322

Net interest income (FTE)

$

543,079

$

531,262

$

405,144

Net interest margin (FTE)

3.38

%

3.29

%

2.96

%

Total noninterest income as a % of total revenue

27.7

27.5

29.5

Net interest income

First quarter 2026 net interest income totaled $534.4 million, an increase of $11.9 million, or 2.3%, from the linked quarter, driven primarily by decreased interest expense due to residual impacts of deposit repricing following the fourth-quarter reduction in short-term interest rates, as well as strong balance sheet growth as measured by a 2.7% increase in average loans and 2.6% increase in average noninterest-bearing demand deposit balances. These benefits were partially offset by the reduction in short-term interest rates, which impacted yields on loans and interest bearing due from bank balances, as well as two fewer days in the quarter. Average earning assets increased $980.2 million, or 1.5%, from the linked quarter, largely driven by increases of $1.0 billion in average loans and $404.9 million in average federal funds and resell agreements, partially offset by a decrease of $517.7 million in average interest bearing due from bank. Average interest-bearing liabilities increased $302.7 million, or 0.7%, from the linked quarter, primarily driven by an increase of $662.2 million, or 22.4%, in federal funds and repurchase agreements, partially offset by a decrease of $362.4 million, or 0.8%, in interest-bearing deposits. The linked-quarter increase in repurchase agreements was driven entirely by customer activity within the public funds and institutional banking segments. Net interest margin for the first quarter was 3.38%, an increase of nine basis points from the linked quarter, due to lower yields on interest-bearing deposits driven by mix shift and repricing of deposits following the reduction in short-term interest rates, partially offset by lower benefit from free funds in a lower interest rate environment. On a year-over-year basis, net interest income increased $136.7 million, or 34.4%, driven by an additional month of HTLF operations, higher purchase accounting accretion benefits, favorable repricing of deposits and loans in conjunction with lower short-term interest rates, and increases of $7.1 billion, or 21.9%, in average loans and $4.2 billion, or 26.2% in average securities. These increases were partially offset by a decrease of $2.6 billion, or 38.4% in average interest-bearing due from banks. Average deposits increased 14.5% compared to the first quarter of 2025, reflecting strong organic growth as well as the impact of acquired HTLF balances. Average interest-bearing deposits increased 15.2%, and noninterest-bearing demand deposit balances increased 12.5% compared to the first quarter of 2025. Average demand deposit balances comprised 26.2% of total deposits, compared to 25.6% in the linked quarter and 26.7% in the first quarter of 2025. Noninterest income

First quarter 2026 noninterest income increased $6.4 million, or 3.2%, on a linked-quarter basis, largely due to: Increases of $1.7 million in fund services income and $1.0 million in corporate trust income, partially offset by a decrease of $0.4 million in trust income, all recorded in trust and securities processing. Increase of $1.7 million in service charges on deposit accounts related to increased service charge income on interest-bearing checking accounts. Increase of $1.5 million in trading and investment banking due to increases in municipal trading activity. Increase of $0.9 million in investment securities gains primarily driven by a $3.0 million gain on the sale of a non-marketable security in the first quarter of 2026, coupled with increases of $4.3 million in valuation of the company's marketable securities. These increases are partially offset by a $5.9 million gain on the sale of a non-marketable security recognized in the fourth quarter of 2025. Compared to the prior year, noninterest income in the first quarter of 2026 increased $38.6 million, or 23.2%, primarily driven by: An increase of $14.9 million in trust and securities processing driven by increases of $8.8 million in fund services income, $3.4 million in trust income, and $2.6 million in corporate trust income. Increase of $7.8 million in investment securities gains primarily driven by a $3.0 million gain on the sale of a non-marketable security in the first quarter of 2026, coupled with decreased valuations in the company's non-marketable securities in the first quarter of 2025. Increase of $6.4 million in other income due to a $4.3 million increase in gains recorded for recoveries of loans previously charged off by HTLF, coupled with a $1.7 million increase in bank-owned life insurance income. Increases of $3.0 million in brokerage income due to higher 12b-1 fees and money market income, $2.6 million in bankcard income due to increased interchange income, and $2.0 million in service charges on deposit accounts driven by increased service charge income on interest-bearing checking accounts. Noninterest expense

Summary of noninterest expense

UMB Financial Corporation

(unaudited, dollars in thousands)

Q1

Q4

Q1

CQ vs.

CQ vs.

2026

2025

2025

LQ

PY

Salaries and employee benefits

$

219,681

$

228,605

$

221,398

$

(8,924

)

$

(1,717

)

Occupancy, net

19,075

19,933

16,069

(858

)

3,006

Equipment

13,320

14,978

16,948

(1,658

)

(3,628

)

Supplies and services

5,604

6,843

4,785

(1,239

)

819

Marketing and business development

13,792

15,246

7,998

(1,454

)

5,794

Processing fees

42,059

43,350

40,850

(1,291

)

1,209

Legal and consulting

9,087

23,614

28,606

(14,527

)

(19,519

)

Bankcard

11,841

12,570

12,795

(729

)

(954

)

Amortization of other intangible assets

23,460

25,454

17,482

(1,994

)

5,978

Regulatory fees

8,270

3,164

8,237

5,106

33

Other

14,694

31,803

9,619

(17,109

)

5,075

Total noninterest expense

$

380,883

$

425,560

$

384,787

$

(44,677

)

$

(3,904

)

GAAP noninterest expense for the first quarter of 2026 was $380.9 million, a decrease of $44.7 million, or 10.5%, from the linked quarter and $3.9 million, or 1.0% from the first quarter of 2025. First quarter 2026 expenses included $4.4 million in total acquisition-related and other nonrecurring costs, compared to $39.7 million in the linked quarter and $53.2 million in the first quarter of 2025. Operating noninterest expense, a non-GAAP financial measure reconciled later in this release to noninterest expense, the nearest comparable GAAP measure, was $375.4 million for the first quarter of 2026, a decrease of $16.4 million, or 4.2%, from the linked quarter and an increase of $44.8 million, or 13.6%, from the first quarter of 2025. The linked-quarter decrease in GAAP noninterest expense was driven by: A decrease of $17.1 million in other expense driven by fees for the termination of legacy HTLF contracts in the fourth quarter of 2025. A decrease of $14.5 million in legal and consulting expense primarily related to HTLF acquisition-related expenses. A decrease of $8.9 million in salaries and employee benefits expense driven by a $14.7 million decline in bonus and commission expense from increased company performance in the fourth quarter of 2025, a $7.4 million decrease in salaries and wage expense, and a $3.9 million decrease in deferred compensation expense. These decreases were partially offset by a seasonal increase of $17.3 million in payroll taxes, insurance, and 401(k) expense recognized in the first quarter. Decreases of $2.0 million in amortization of intangibles due to a decline in the amortization of the core deposit intangible, $1.7 million in equipment due to decreases in software expense, $1.5 million in marketing and business development driven by the timing of multiple advertising campaigns and decreased travel and entertainment expense, $1.3 million in processing fees driven by decreased software subscription costs, and $1.2 million in supplies and services due to lower computer hardware expense. These decreases were partially offset by a $5.1 million increase in regulatory fees driven by a larger reduction in the FDIC special assessment expense in the fourth quarter of 2025. The year-over-year decrease in GAAP noninterest expense was driven by: A decrease of $19.5 million in legal and consulting expense, which included $19.0 million of non-recurring transaction costs associated with the acquisition in the first quarter of 2025. This decrease was partially offset by the following increases: Increase of $6.0 million in amortization of intangibles related to the timing of the HTLF acquisition in the first quarter of 2025. An increase of $5.8 million driven by the timing of multiple advertising campaigns and increased travel and entertainment expense. Increase of $5.1 million in other expense driven by a $2.5 million increase in charitable contributions, $1.2 million increase in losses on the sale of other assets and expense related to other real estate owned, and $0.9 million increase in tax expense other than income tax. First quarter 2026 noninterest expense included $4.4 million in total acquisition-related and other nonrecurring costs, compared to $39.7 million in the linked quarter and $53.2 million in the first quarter of 2025. During the first quarter of 2026, this expense was composed primarily of $4.0 million in salaries and employee benefits. During the linked quarter, the $39.7 million in acquisition-related expense was primarily composed of $15.5 million in other expense for contract termination fees, $12.4 million in legal and consulting expense, $7.1 million in salaries and employee benefits, and $3.0 million in marketing expense. During the first quarter of 2025, acquisition-related expense was primarily composed of $33.3 million in salaries and employee benefits and $19.0 million in legal and consulting expense. Income taxes

The company’s effective tax rate was 21.1% for the quarter ended March 31, 2026, compared to 12.6% for the same period in 2025. The increase is mainly due to more favorable discrete tax items in 2025, including a benefit from remeasuring deferred tax assets after the HTLF acquisition increased the state marginal tax rate. Additionally, a smaller proportion of pre-tax income in 2026 was earned from tax-exempt municipal securities. Balance sheet

Average total assets for the first quarter of 2026 were $70.4 billion compared to $69.6 billion for the linked quarter and $60.0 billion for the same period in 2025. Summary of average loans and leases - QTD Average

  UMB Financial Corporation

(unaudited, dollars in thousands)

Q1

Q4

Q1

CQ vs.

CQ vs.

2026

2025

2025

LQ

PY

Commercial and industrial (i)

$

16,627,000

$

15,754,499

$

12,852,630

$

872,501

$

3,774,370

Specialty lending

534,979

542,857

522,583

(7,878

)

12,396

Commercial real estate

16,534,892

16,512,390

14,074,863

22,502

2,460,029

Consumer real estate

4,433,669

4,379,183

3,819,602

54,486

614,067

Consumer

247,090

242,129

264,467

4,961

(17,377

)

Credit cards

757,471

778,779

689,645

(21,308

)

67,826

Leases and other

248,109

134,235

85,907

113,874

162,202

Total loans

$

39,383,210

$

38,344,072

$

32,309,697

$

1,039,138

$

7,073,513

  (i) Commercial and industrial loans include all loans to Non-Depository Financial Institutions (NDFIs).

Average loans for the first quarter of 2026 increased $1.0 billion, or 2.7%, on a linked-quarter basis and $7.1 billion, or 21.9%, compared to the first quarter of 2025. These increases reflect continued organic momentum across legacy UMB geographies, as well as the impact of acquired HTLF balances. Summary of average securities - QTD Average

UMB Financial Corporation

(unaudited, dollars in thousands)

Q1

Q4

Q1

CQ vs.

CQ vs.

2026

2025

2025

LQ

PY

Securities available for sale:

U.S. Treasury

$

2,264,390

$

2,256,084

$

1,397,844

$

8,306

$

866,546

U.S. Agencies

54,459

77,151

133,852

(22,692

)

(79,393

)

Mortgage-backed

8,155,646

7,977,598

5,303,047

178,048

2,852,599

State and political subdivisions

2,446,129

2,466,226

2,084,441

(20,097

)

361,688

Corporates

158,088

196,425

317,378

(38,337

)

(159,290

)

Collateralized loan obligations

534,566

555,561

398,418

(20,995

)

136,148

Total securities available for sale

$

13,613,278

$

13,529,045

$

9,634,980

$

84,233

$

3,978,298

Securities held to maturity:

U.S. Treasury

$

38,255

$

38,251

$

—

$

4

$

38,255

U.S. Agencies

—

—

112,547

—

(112,547

)

Mortgage-backed

2,482,131

2,536,279

2,492,446

(54,148

)

(10,315

)

State and political subdivisions

3,177,060

3,137,793

3,022,878

39,267

154,182

Total securities held to maturity

$

5,697,446

$

5,712,323

$

5,627,871

$

(14,877

)

$

69,575

Trading securities

$

17,354

$

19,155

$

20,863

$

(1,801

)

$

(3,509

)

Other securities

697,129

710,772

586,866

(13,643

)

110,263

Total securities

$

20,025,207

$

19,971,295

$

15,870,580

$

53,912

$

4,154,627

Average total securities increased 0.3% on a linked-quarter basis and 26.2% compared to the first quarter of 2025. Summary of average deposits - QTD Average

UMB Financial Corporation

(unaudited, dollars in thousands)

Q1

Q4

Q1

CQ vs.

CQ vs.

2026

2025

2025

LQ

PY

Deposits:

Noninterest-bearing demand

$

15,103,339

$

14,720,416

$

13,428,205

$

382,923

$

1,675,134

Interest-bearing demand and savings

38,996,451

39,299,431

33,991,906

(302,980

)

5,004,545

Time deposits

3,474,321

3,533,753

2,864,408

(59,432

)

609,913

Total deposits

$

57,574,111

$

57,553,600

$

50,284,519

$

20,511

$

7,289,592

Noninterest bearing deposits as % of total

26.2

%

25.6

%

26.7

%

Average deposits remained flat on a linked-quarter basis and increased 14.5% compared to the first quarter of 2025. The increase compared to the first quarter of 2025 reflects the impact of acquired HTLF balances. Capital

Capital information

UMB Financial Corporation

(unaudited, dollars in thousands, except per share data)

March 31, 2026

December 31, 2025

March 31, 2025

Total equity

$

7,826,997

$

7,693,568

$

6,748,434

Total common equity

7,538,743

7,417,284

6,637,730

Accumulated other comprehensive loss, net

(331,350

)

(261,520

)

(492,698

)

Book value per common share

99.22

97.65

87.43

Tangible book value per common share (Non-GAAP)(i)

68.94

67.02

56.40

Regulatory capital:

Common equity Tier 1 capital

$

5,685,870

$

5,459,343

$

4,767,403

Tier 1 capital

5,979,936

5,753,409

4,878,108

Total capital

6,892,054

6,654,521

5,914,197

Regulatory capital ratios:

Common equity Tier 1 capital ratio

11.16

%

10.96

%

10.11

%

Tier 1 risk-based capital ratio

11.74

11.55

10.35

Total risk-based capital ratio

13.53

13.36

12.54

Tier 1 leverage ratio

8.73

8.54

8.47

  (i) See reconciliation of Non-GAAP measures to their nearest comparable GAAP measures later in this release.

In March 2026, the company repurchased 178,249 common shares at a weighted average price of $111.62 for a total repurchase of $19.9 million. At March 31, 2026, the regulatory capital ratios presented in the foregoing table exceeded all “well-capitalized” regulatory thresholds. Asset Quality

Credit quality

UMB Financial Corporation

(unaudited, dollars in thousands)

Q1

Q4

Q3

Q2

Q1

2026

2025

2025

2025

2025

Net charge-offs - total loans

$

18,929

$

12,654

$

18,383

$

15,462

$

35,872

Net loan charge-offs as a % of total average loans

0.19

%

0.13

%

0.20

%

0.17

%

0.45

%

Loans over 90 days past due

$

14,924

$

18,403

$

6,131

$

6,813

$

6,346

Loans over 90 days past due as a % of total loans

0.04

%

0.05

%

0.02

%

0.02

%

0.02

%

Nonaccrual and restructured loans

$

151,250

$

144,666

$

131,965

$

97,029

$

100,885

Nonaccrual and restructured loans as a % of total loans

0.38

%

0.37

%

0.35

%

0.26

%

0.28

%

Provision for credit losses

$

27,000

$

25,000

$

22,500

$

21,000

$

86,000

(i)

  (i) Provision in the first quarter of 2025 included $62.0 million for Day 1 provision expense to establish an allowance for credit losses on acquired HTLF loans that were designated as non-purchase credit deteriorated (non-PCD) at the close of the transaction.

Provision for credit losses for the first quarter increased $2.0 million from the linked quarter and decreased $59.0 million from the first quarter of 2025. Provision in the first quarter of 2025 includes $62.0 million for Day 1 provision expense, as described above. The remainder of the change in provision expense is driven by ongoing recalibrations of econometric loss models and general portfolio trends in the current periods as compared to the prior periods. Net charge-offs for the first quarter totaled $18.9 million, or 0.19% of average loans, compared to $12.7 million, or 0.13% of average loans in the linked quarter, and $35.9 million, or 0.45% of average loans for the first quarter of 2025. Conference Call

The company will host a conference call to discuss its first quarter 2026 earnings results on Wednesday, April 29, 2026, at 8:30 a.m. (CT).

Interested parties may access the call by dialing (toll-free) 888-596-4144 or (international) 646-968-2525 and requesting to join the UMB Financial call with access code 8227474. The live call may also be accessed by visiting investorrelations.umb.com or by using the following link:

UMB Financial 1Q 2026 Conference Call

A replay of the conference call may be heard through May 13, 2026, by calling (toll-free) 800-770-2030 or (international) 609-800-9909. The replay access code required for playback is 8227474. The call replay may also be accessed at investorrelations.umb.com.

Non-GAAP Financial Information

In this release, we provide information about net operating income available to common shareholders, operating earnings per share – diluted (operating EPS), operating return on average common equity (operating ROE), operating return on average assets (operating ROA), operating noninterest expense, operating efficiency ratio, operating pre-tax, pre-provision income (operating PTPP), operating pre-tax, pre-provision earnings per share – diluted (operating PTPP EPS), operating pre-tax, pre-provision income on a fully tax equivalent basis (operating PTPP-FTE), operating pre-tax, pre-provision FTE earnings per share – diluted (operating PTPP-FTE EPS), tangible common shareholders’ equity, and tangible book value per share, all of which are non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (GAAP) and should not be viewed in isolation from, or as a substitute for, GAAP results. The differences between the non-GAAP financial measures – net operating income available to common shareholders, operating EPS, operating ROE, operating ROA, operating noninterest expense, operating efficiency ratio, operating PTPP, operating PTPP EPS, operating PTPP-FTE, operating PTPP-FTE EPS, tangible common shareholders’ equity, and tangible book value per share – and the nearest comparable GAAP financial measures are reconciled later in this release. The company believes that these non-GAAP financial measures and the reconciliations may be useful to investors because they adjust for acquisition- and severance-related items, and the FDIC special assessment that management does not believe reflect the company’s fundamental operating performance.

Net operating income available to common shareholders for the relevant period is defined as GAAP net income available to common shareholders, adjusted to reflect the impact of excluding expenses related to Day 1 acquisition provision expense, acquisitions, severance expense, the FDIC special assessment, and the cumulative tax impact of these adjustments.

Operating EPS (diluted) is calculated as earnings per share as reported, adjusted to reflect, on a per share basis, the impact of excluding the non-GAAP adjustments described above for the relevant period. Operating ROE is calculated as net operating income available to common shareholders, divided by the company’s average total common shareholders’ equity for the relevant period. Operating ROA is calculated as net operating income available to common shareholders, divided by the company’s average assets for the relevant period. Operating noninterest expense for the relevant period is defined as GAAP noninterest expense, adjusted to reflect the pre-tax impact of non-GAAP adjustments described above. Operating efficiency ratio is calculated as the company’s operating noninterest expense, net of amortization of other intangibles, divided by the company’s total non-GAAP revenue (calculated as net interest income plus noninterest income, less gains on sales of securities available for sale, net).

Operating PTPP income for the relevant period is defined as GAAP net interest income plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions and severance, and the FDIC special assessment.

Operating PTPP-FTE for the relevant period is defined as GAAP net interest income on a fully tax equivalent basis plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions and severance, and the FDIC special assessment.

Tangible common shareholders’ equity for the relevant period is defined as GAAP common shareholders’ equity, net of intangible assets. Tangible book value per share is defined as tangible common shareholders’ equity divided by the company’s total common shares outstanding.

Forward-Looking Statements:

This press release contains, and our other communications may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “outlook,” “forecast,” “target,” “trend,” “plan,” “goal,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, results, or aspirations. All forward-looking statements are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Our actual future objectives, strategies, plans, prospects, performance, condition, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2025, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (SEC). In addition to such factors that have been disclosed previously: macroeconomic and adverse developments and uncertainties related to the collateral effects of the collapse of, and challenges for, domestic and international banks, including the impacts to the U.S. and global economies; sustained levels of high inflation and the potential for an economic recession on the heels of aggressive quantitative tightening by the Federal Reserve; and impacts related to or resulting from instability in the Middle East and Russia’s military action in Ukraine, such as the broader impacts to financial markets and the global macroeconomic and geopolitical environments, may also cause actual results or other future events, circumstances, or aspirations to differ from our forward-looking statements. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except to the extent required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K, or other applicable document that is filed or furnished with the SEC.

About UMB:

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Mo. UMB offers commercial banking, which includes comprehensive deposit, lending, investment and retirement plan services; personal banking, which includes comprehensive deposit, lending, wealth management and financial planning services; and institutional banking, which includes asset servicing, corporate trust solutions, investment banking and healthcare services. UMB operates branches throughout Missouri, Arizona, California, Colorado, Iowa, Kansas, Illinois, Minnesota, Nebraska, New Mexico, Oklahoma, Texas, Utah, and Wisconsin. As the company’s reach continues to grow, it also serves business clients nationwide and institutional clients in several countries. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn.

Consolidated Balance Sheets

UMB Financial Corporation

(unaudited, dollars in thousands)

March 31,

2026

2025

ASSETS

Loans

$

40,134,325

$

35,936,281

Allowance for credit losses on loans

(425,876

)

(368,922

)

Net loans

39,708,449

35,567,359

Loans held for sale

4,471

5,099

Securities:

Available for sale

13,660,886

10,895,659

Held to maturity, net of allowance for credit losses

5,699,881

5,712,764

Trading securities

24,205

35,461

Other securities

685,590

647,152

Total securities

20,070,562

17,291,036

Federal funds sold and resell agreements

1,524,669

636,069

Interest-bearing due from banks

5,655,290

9,811,867

Cash and due from banks

735,829

917,450

Premises and equipment, net

391,020

391,147

Accrued income

342,685

308,103

Goodwill

1,837,594

1,798,451

Other intangibles, net

463,409

557,186

Other assets

1,940,183

2,063,546

Total assets

$

72,674,161

$

69,347,313

LIABILITIES

Deposits:

Noninterest-bearing demand

$

17,041,696

$

18,431,854

Interest-bearing demand and savings

39,728,542

36,898,898

Time deposits under $250,000

1,823,536

1,871,388

Time deposits of $250,000 or more

1,386,982

1,319,038

Total deposits

59,980,756

58,521,178

Federal funds purchased and repurchase agreements

3,550,738

2,559,983

Long-term debt

477,164

654,380

Accrued expenses and taxes

309,932

352,143

Other liabilities

528,574

511,195

Total liabilities

64,847,164

62,598,879

SHAREHOLDERS' EQUITY

Series A Fixed-Rate Reset Non-Cumulative Perpetual Preferred stock

—

110,705

Series B Fixed-Rate Reset Non-Cumulative Perpetual Preferred stock

294,066

—

Common stock

78,666

78,666

Capital surplus

4,006,726

3,993,662

Retained earnings

3,958,611

3,224,866

Accumulated other comprehensive loss, net

(331,350

)

(492,698

)

Treasury stock

(179,722

)

(166,767

)

Total shareholders' equity

7,826,997

6,748,434

Total liabilities and shareholders' equity

$

72,674,161

$

69,347,313

Consolidated Statements of Income

UMB Financial Corporation

(unaudited, dollars in thousands except share and per share data)

Three Months Ended

March 31,

2026

2025

INTEREST INCOME

Loans

$

633,078

$

527,404

Securities:

Taxable interest

145,299

98,296

Tax-exempt interest

34,454

29,963

Total securities income

179,753

128,259

Federal funds and resell agreements

16,063

6,952

Interest-bearing due from banks

37,902

74,985

Trading securities

271

370

Total interest income

867,067

737,970

INTEREST EXPENSE

Deposits

292,373

303,406

Federal funds and repurchase agreements

29,698

25,790

Other

10,630

11,135

Total interest expense

332,701

340,331

Net interest income

534,366

397,639

Provision for credit losses

27,000

86,000

Net interest income after provision for credit losses

507,366

311,639

NONINTEREST INCOME

Trust and securities processing

94,667

79,781

Trading and investment banking

7,740

5,911

Service charges on deposit accounts

29,474

27,457

Insurance fees and commissions

255

178

Brokerage fees

21,089

18,102

Bankcard fees

28,878

26,293

Investment securities gains (losses), net

3,046

(4,782

)

Other

19,644

13,258

Total noninterest income

204,793

166,198

NONINTEREST EXPENSE

Salaries and employee benefits

219,681

221,398

Occupancy, net

19,075

16,069

Equipment

13,320

16,948

Supplies and services

5,604

4,785

Marketing and business development

13,792

7,998

Processing fees

42,059

40,850

Legal and consulting

9,087

28,606

Bankcard

11,841

12,795

Amortization of other intangible assets

23,460

17,482

Regulatory fees

8,270

8,237

Other

14,694

9,619

Total noninterest expense

380,883

384,787

Income before income taxes

331,276

93,050

Income tax expense

69,838

11,717

NET INCOME

261,438

81,333

Less: Preferred dividends

5,813

2,013

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS

$

255,625

$

79,320

PER SHARE DATA

Net income per common share – basic

$

3.36

$

1.22

Net income per common share – diluted

3.35

1.21

Dividends per common share

0.43

0.40

Weighted average common shares outstanding – basic

76,032,620

65,063,262

Weighted average common shares outstanding – diluted

76,399,233

65,496,058

Consolidated Statements of Comprehensive Income

UMB Financial Corporation

(unaudited, dollars in thousands)

Three Months Ended

March 31,

2026

2025

Net income

$

261,438

$

81,333

Other comprehensive (loss) income, before tax:

Unrealized gains and losses on debt securities:

Change in unrealized holding gains and losses, net

(85,472

)

76,235

Less: Reclassification adjustment for net gains included in net income

(403

)

(390

)

Amortization of net unrealized loss on securities transferred from available-for-sale to held-to-maturity

7,088

8,290

Change in unrealized gains and losses on debt securities

(78,787

)

84,135

Unrealized gains and losses on derivative hedges:

Change in unrealized gains and losses on derivative hedges, net

(16,053

)

22,646

Less: Reclassification adjustment for net gains included in net income

(797

)

(24

)

Change in unrealized gains and losses on derivative hedges

(16,850

)

22,622

Other comprehensive (loss) income, before tax

(95,637

)

106,757

Income tax benefit (expense)

25,807

(26,405

)

Other comprehensive (loss) income

(69,830

)

80,352

Comprehensive income

$

191,608

$

161,685

Consolidated Statements of Shareholders' Equity

  UMB Financial Corporation

(unaudited, dollars in thousands except per share data)

Preferred

Stock

Common

Stock

Capital

Surplus

Retained

Earnings

Accumulated

Other

Comprehensive

(Loss) Income

Treasury

Stock

Total

Balance - January 1, 2025

$

—

$

55,057

$

1,145,638

$

3,174,948

$

(573,050

)

$

(336,052

)

$

3,466,541

Total comprehensive income

—

—

—

81,333

80,352

—

161,685

Cash dividends declared:

Preferred dividends Series A ($175.00 per share)

—

—

—

(2,013

)

—

—

(2,013

)

Common dividends ($0.40 per share)

—

—

—

(29,402

)

—

—

(29,402

)

Purchase of treasury stock

—

—

—

—

—

(15,434

)

(15,434

)

Issuances of equity awards, net of forfeitures

—

—

(15,595

)

—

—

16,395

800

Recognition of equity-based compensation

—

—

32,419

—

—

—

32,419

Sale of treasury stock

—

—

116

—

—

60

176

Exercise of stock options

—

—

126

—

—

179

305

Common stock issuance costs

—

—

67,056

—

—

168,085

235,141

Stock issuance for acquisition, net of issuance costs

110,705

23,609

2,763,902

—

—

—

2,898,216

Balance - March 31, 2025

$

110,705

$

78,666

$

3,993,662

$

3,224,866

$

(492,698

)

$

(166,767

)

$

6,748,434

Balance - January 1, 2026

$

294,066

$

78,666

$

4,011,047

$

3,736,413

$

(261,520

)

$

(165,104

)

$

7,693,568

Total comprehensive income

—

—

—

261,438

(69,830

)

—

191,608

Cash dividends declared:

Preferred dividends Series B ($193.75 per share)

—

—

—

(5,813

)

—

—

(5,813

)

Common dividends ($0.43 per share)

—

—

—

(33,427

)

—

—

(33,427

)

Purchase of treasury stock

—

—

—

—

—

(32,814

)

(32,814

)

Issuances of equity awards, net of forfeitures

—

—

(16,311

)

—

—

17,810

1,499

Recognition of equity-based compensation

—

—

11,924

—

—

—

11,924

Sale of treasury stock

—

—

83

—

—

86

169

Exercise of stock options

—

—

(17

)

—

—

300

283

Balance - March 31, 2026

$

294,066

$

78,666

$

4,006,726

$

3,958,611

$

(331,350

)

$

(179,722

)

$

7,826,997

Average Balances / Yields and Rates

UMB Financial Corporation

(tax - equivalent basis)

(unaudited, dollars in thousands)

Three Months Ended March 31,

2026

2025

Average

Average

Average

Average

Balance

Yield/Rate

Balance

Yield/Rate

Assets

Loans, net of unearned interest

$

39,383,210

6.52

%

$

32,309,697

6.62

%

Securities:

Taxable

15,654,218

3.76

11,728,148

3.40

Tax-exempt

4,353,635

4.01

4,121,569

3.68

Total securities

20,007,853

3.82

15,849,717

3.47

Federal funds and resell agreements

1,539,874

4.23

555,805

5.07

Interest-bearing due from banks

4,192,804

3.67

6,808,680

4.47

Trading securities

17,354

6.59

20,863

7.56

Total earning assets

65,141,095

5.45

55,544,762

5.44

Allowance for credit losses

(417,768

)

(320,371

)

Other assets

5,704,489

4,752,484

Total assets

$

70,427,816

$

59,976,875

Liabilities and Shareholders' Equity

Interest-bearing deposits

$

42,470,772

2.79

%

$

36,856,314

3.34

%

Federal funds and repurchase agreements

3,623,410

3.32

2,692,907

3.88

Borrowed funds

475,518

9.07

570,427

7.92

Total interest-bearing liabilities

46,569,700

2.90

40,119,648

3.44

Noninterest-bearing demand deposits

15,103,339

13,428,205

Other liabilities

894,926

861,375

Shareholders' equity

7,859,851

5,567,647

Total liabilities and shareholders' equity

$

70,427,816

$

59,976,875

Net interest spread

2.55

%

2.00

%

Net interest margin

3.38

2.96

Business Segment Information

UMB Financial Corporation

(unaudited, dollars in thousands)

Three Months Ended March 31, 2026

Commercial

Banking

Institutional

Banking

Personal

Banking

Total

Net interest income

$

365,342

$

77,287

$

91,737

$

534,366

Provision for credit losses

23,777

497

2,726

27,000

Noninterest income

46,289

121,829

36,675

204,793

Noninterest expense

165,452

112,931

102,500

380,883

Income before taxes

222,402

85,688

23,186

331,276

Income tax expense

46,886

18,064

4,888

69,838

Net income

$

175,516

$

67,624

$

18,298

$

261,438

Three Months Ended March 31, 2025

Commercial

Banking

Institutional

Banking

Personal

Banking

Total

Net interest income

$

273,916

$

61,159

$

62,564

$

397,639

Provision for credit losses

66,751

435

18,814

86,000

Noninterest income

37,218

103,797

25,183

166,198

Noninterest expense

173,011

107,268

104,508

384,787

Income (loss) before taxes

71,372

57,253

(35,575

)

93,050

Income tax expense (benefit)

8,987

7,210

(4,480

)

11,717

Net income (loss)

$

62,385

$

50,043

$

(31,095

)

$

81,333

  The company has strategically aligned its operations into the following three reportable segments: Commercial Banking, Institutional Banking, and Personal Banking. Senior executive officers regularly evaluate business segment financial results produced by the company’s internal reporting system in deciding how to allocate resources and assess performance for individual business segments. The company’s reportable segments include certain corporate overhead, technology and service costs that are allocated based on methodologies that are applied consistently between periods. For comparability purposes, amounts in all periods are based on methodologies in effect at March 31, 2026.

Non-GAAP Financial Measures

Net operating income available to common shareholders Non-GAAP reconciliations:

UMB Financial Corporation

(unaudited, dollars in thousands except per share data)

Three Months Ended March 31,

2026

2025

Net income available to common shareholders (GAAP)

$

255,625

$

79,320

Adjustments:

Day 1 acquisition provision expense

—

62,037

Acquisition expense

4,354

53,169

Severance expense

2,036

445

FDIC special assessment

(885

)

629

Tax-impact of adjustments (i)

(1,321

)

(26,722

)

Total Non-GAAP adjustments (net of tax)

4,184

89,558

Net operating income (Non-GAAP)

$

259,809

$

168,878

Earnings per common share - diluted (GAAP)

$

3.35

$

1.21

Day 1 acquisition provision expense

—

0.95

Acquisition expense

0.06

0.81

Severance expense

0.03

0.01

FDIC special assessment

(0.01

)

0.01

Tax-impact of adjustments (i)

(0.02

)

(0.41

)

Operating earnings per common share - diluted (Non-GAAP)

$

3.41

$

2.58

GAAP

Return on average assets

1.47

%

0.54

%

Return on average common equity

13.70

5.86

Non-GAAP

Operating return on average assets

1.50

%

1.14

%

Operating return on average common equity

13.93

12.47

  (i) Calculated using the company’s marginal tax rate of 24.0%. Certain merger-related expenses are non-deductible.

Operating noninterest expense and operating efficiency ratio Non-GAAP reconciliations:

UMB Financial Corporation

(unaudited, dollars in thousands)

Three Months Ended March 31,

2026

2025

Noninterest expense

$

380,883

$

384,787

Adjustments to arrive at operating noninterest expense (pre-tax):

Acquisition expense

4,354

53,169

Severance expense

2,036

445

FDIC special assessment

(885

)

629

Total Non-GAAP adjustments (pre-tax)

5,505

54,243

Operating noninterest expense (Non-GAAP)

$

375,378

$

330,544

Noninterest expense

$

380,883

$

384,787

Less: Amortization of other intangibles

23,460

17,482

Noninterest expense, net of amortization of other intangibles (Non-GAAP) (numerator A)

$

357,423

$

367,305

Operating noninterest expense

$

375,378

$

330,544

Less: Amortization of other intangibles

23,460

17,482

Operating expense, net of amortization of other intangibles (Non-GAAP) (numerator B)

$

351,918

$

313,062

Net interest income

$

534,366

$

397,639

Noninterest income

204,793

166,198

Less: Gains on sales of securities available for sale, net

403

390

Total Non-GAAP Revenue (denominator A)

$

738,756

$

563,447

Efficiency ratio (numerator A/denominator A)

48.38

%

65.19

%

Operating efficiency ratio (Non-GAAP) (numerator B/denominator A)

47.64

55.56

Operating pre-tax, pre-provision income non-GAAP reconciliations:

UMB Financial Corporation

(unaudited, dollars in thousands except per share data)

Three Months Ended March 31,

2026

2025

Net interest income (GAAP)

$

534,366

$

397,639

Noninterest income (GAAP)

204,793

166,198

Noninterest expense (GAAP)

380,883

384,787

Adjustments to arrive at operating noninterest expense:

Acquisition expense

4,354

53,169

Severance expense

2,036

445

FDIC special assessment

(885

)

629

Total Non-GAAP adjustments

5,505

54,243

Operating noninterest expense (Non-GAAP)

375,378

330,544

Operating pre-tax, pre-provision income (Non-GAAP)

$

363,781

$

233,293

Net interest income earnings per common share - diluted (GAAP)

$

6.99

$

6.07

Noninterest income (GAAP)

2.68

2.54

Noninterest expense (GAAP)

4.99

5.87

Acquisition expense

0.06

0.81

Severance expense

0.03

0.01

FDIC special assessment

(0.01

)

0.01

Operating pre-tax, pre-provision earnings per common share - diluted (Non-GAAP)

$

4.76

$

3.57

Operating pre-tax, pre-provision income - FTE Non-GAAP reconciliations:

UMB Financial Corporation

(unaudited, dollars in thousands except per share data)

Three Months Ended March 31,

2026

2025

Net interest income (GAAP)

$

534,366

$

397,639

Adjustments to arrive at net interest income - FTE:

Tax equivalent interest

8,713

7,505

Net interest income - FTE (Non-GAAP)

543,079

405,144

Noninterest income (GAAP)

204,793

166,198

Noninterest expense (GAAP)

380,883

384,787

Adjustments to arrive at operating noninterest expense:

Acquisition expense

4,354

53,169

Severance expense

2,036

445

FDIC special assessment

(885

)

629

Total Non-GAAP adjustments

5,505

54,243

Operating noninterest expense (Non-GAAP)

375,378

330,544

Operating pre-tax, pre-provision income - FTE (Non-GAAP)

$

372,494

$

240,798

Net interest income earnings per common share - diluted (GAAP)

$

6.99

$

6.07

Tax equivalent interest

0.12

0.11

Net interest income - FTE (Non-GAAP)

7.11

6.18

Noninterest income (GAAP)

2.68

2.54

Noninterest expense (GAAP)

4.99

5.87

Acquisition expense

0.06

0.81

Severance expense

0.03

0.01

FDIC special assessment

(0.01

)

0.01

Operating pre-tax, pre-provision income - FTE earnings per common share - diluted (Non-GAAP)

$

4.88

$

3.68

Tangible book value non-GAAP reconciliations:

UMB Financial Corporation

(unaudited, dollars in thousands except share and per share data)

As of March 31,

2026

2025

Total common shareholders' equity (GAAP)

$

7,538,743

$

6,637,730

Less: Intangible assets

Goodwill

1,837,594

1,798,451

Other intangibles, net

463,409

557,186

Total intangibles, net

2,301,003

2,355,637

Total tangible common shareholders' equity (Non-GAAP)

$

5,237,740

$

4,282,093

Total common shares outstanding

75,977,250

75,917,456

Ratio of total common shareholders' equity (book value) per share

$

99.22

$

87.43

Ratio of total tangible common shareholders' equity (tangible book value) per share (Non-GAAP)

68.94

56.40

UMB Financial (UMBF - Free Report) came out with quarterly earnings of $3.41 per share, beating the Zacks Consensus Estimate of $2.82 per share. This compares to earnings of $2.58 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +20.85%. A quarter ago, it was expected that this bank holding company would post earnings of $2.71 per share when it actually produced earnings of $3.08, delivering a surprise of +13.65%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

UMB, which belongs to the Zacks Banks - Midwest industry, posted revenues of $747.87 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 5.90%. This compares to year-ago revenues of $571.34 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

UMB shares have added about 7.9% since the beginning of the year versus the S&P 500's gain of 4.8%.

What's Next for UMB?While UMB has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for UMB was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.98 on $716.87 million in revenues for the coming quarter and $12.05 on $2.9 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

MetLife (MET - Free Report) , another stock in the broader Zacks Finance sector, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.

This insurer is expected to post quarterly earnings of $2.22 per share in its upcoming report, which represents a year-over-year change of +13.3%. The consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level.

MetLife's revenues are expected to be $19.2 billion, up 2% from the year-ago quarter.

UMB Financial remains a "Buy" as Heartland acquisition synergies and disciplined cost management drive accelerated earnings growth. Q1 adjusted EPS of $3.41 beat consensus by $0.59, with strong loan growth, improving deposit mix, and robust credit quality underpinning performance. UMBF's conservative underwriting limits private credit risk, while its securities portfolio reinvestment and capital strength support further margin expansion.

UMB Financial Corporation (UMBF) Q1 2026 Earnings Call Transcript

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

inTest (INTT - Free Report) : This company, which is an independent designer, manufacturer and marketer of ATE interface solutions and temperature management products, has seen the Zacks Consensus Estimate for its current year earnings increasing 81.8% over the last 60 days.

EOG Resources (EOG - Free Report) : This company, which is primarily engaged in the exploration and production of crude oil, natural gas liquids (NGLs) and natural gas, has seen the Zacks Consensus Estimate for its current year earnings increasing 63.3% over the last 60 days.

Universal Insurance Holdings (UVE - Free Report) : This company, which is a vertically integrated property and casualty insurer focused on personal residential homeowners coverage, has seen the Zacks Consensus Estimate for its currentyear earnings increasing 18.8% over the last 60 days.

Liquidia Corporation (LQDA - Free Report) : This biopharmaceutical company, which develops, manufactures and commercializes products for unmet patient needs principally in the United States, has seen the Zacks Consensus Estimate for its current year earnings increasing 12.9% over the last 60 day.

UMB Financial (UMBF - Free Report) : This company, which provides banking services and asset servicing in the United States, has seen the Zacks Consensus Estimate for its current year earnings increasing 5.6% over the last 60 days.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

UMB Financial (UMBF - Free Report) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for UMB is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for UMB imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for UMBThis bank holding company is expected to earn $12.77 per share for the fiscal year ending December 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for UMB. Over the past three months, the Zacks Consensus Estimate for the company has increased 6.7%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of UMB to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

From a technical perspective, UMB Financial Corporation (UMBF - Free Report) is looking like an interesting pick, as it just reached a key level of support. UMBF's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving averages being the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

There are three stages to a golden cross. First, there must be a downtrend in a stock's price that eventually bottoms out. Then, the stock's shorter moving average crosses over its longer moving average, triggering a positive trend reversal. The third stage is when a stock continues the upward momentum to higher prices.

A golden cross is the opposite of a death cross, another technical event that indicates bearish price movement may be on the horizon.

UMBF could be on the verge of a breakout after moving 11.6% higher over the last four weeks. Plus, the company is currently a #1 (Strong Buy) on the Zacks Rank.

Once investors consider UMBF's positive earnings outlook for the current quarter, the bullish case only solidifies. No earnings estimate has gone lower in the past two months compared to 4 revisions higher, and the Zacks Consensus Estimate has increased as well.

Investors may want to watch UMBF for more gains in the near future given the company's key technical level and positive earnings estimate revisions.

A month has gone by since the last earnings report for UMB Financial (UMBF - Free Report) . Shares have added about 6.1% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is UMB due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for UMB Financial Corporation before we dive into how investors and analysts have reacted as of late.

UMB Financial Q1 Earnings Beat on Y/Y Rise in NII, Expenses FallUMB Financial reported first-quarter 2026 operating earnings per share of $3.41, beating the Zacks Consensus Estimate of $2.82. The bottom line also increased from $2.58 in the year-ago quarter. 

The company delivered a strong quarterly performance, supported by solid growth in net interest income, higher non-interest income and continued loan growth. Lower non-interest expenses and improved efficiency further supported results.

Net income (GAAP basis) available to common shareholders for UMBF was $255.6 million in the first quarter, soaring 222.3% from the year-ago quarter.

Revenues Rise, Expenses FallQuarterly revenues were $747.9 million, rising 30.9% year over year.

The metric beat the Zacks Consensus Estimate by 5.9%.

NII was $534.4 million, up 34.4% from the prior-year quarter and 2.3% sequentially.

On a fully-taxable-equivalent basis, the net interest margin was 3.38%, up 42 basis points year over year and nine basis points sequentially. The increase was primarily led by lower yields on interest-bearing deposits due to mix shift and repricing of deposits following the reduction in short-term interest rates.

Non-interest income was $204.8 million, up 23.2% year over year. The increase was primarily driven by higher trust and securities processing income, investment securities gains, other income, brokerage income, bankcard income and service charges on deposit accounts.

Non-interest expenses were $380.9 million, down 1% year over year. First-quarter 2026 expenses included $4.4 million in total acquisition-related and other non-recurring costs. Operating non-interest expenses (adjusted basis) were $375.4 million, up 13.6% year over year.

The efficiency ratio improved to 48.4% from the prior-year quarter’s 65.2%. A decline in the efficiency ratio indicates an increase in profitability.

Loans & Deposit Balances RiseAverage loans for the first quarter were $39.4 billion, up 2.7% sequentially and 21.9% from the prior-year quarter. End-of-period loans stood at $40.1 billion as of March 31, 2026.

Average deposits remained flat sequentially and increased 14.5% year over year to $57.6 billion. The increase from the first quarter of 2025 reflected the impacts of acquired HTLF balances.

Credit Quality: Mixed BagNet charge-offs totaled $18.9 million, or 0.19% of average loans, compared with $35.9 million, or 0.45%, in the year-ago quarter.

Total non-accrual and restructured loans were $151.3 million compared with $100.9 million in the year-ago quarter.

The provision for credit losses was $27 million in the first quarter of 2026, down from $86 million in the prior-year quarter.

Capital Ratios ImproveAs of March 31, 2026, the Tier 1 risk-based capital ratio was 11.74% compared with 10.35% as of March 31, 2025. The Tier 1 leverage ratio was 8.73% compared with 8.47% in the year-ago quarter. The total risk-based capital ratio was 13.53%, up from 12.54% a year ago.

In March 2026, the company repurchased 178,249 common shares at a weighted average price of $111.62 for a total repurchase of $19.9 million.

The board also increased the share repurchase authorization to 2 million shares from one million shares previously.

Profitability Ratios ImproveReturn on average assets at the first-quarter end was 1.47% compared with the year-ago quarter’s 0.54%.

Return on average common equity was 13.70% compared with 5.86% in the year-ago quarter.

2026 OutlookThe effective tax rate is expected to be 20-22%. 

Management expects positive operating leverage for 2026, even as contractual purchase accounting accretion declines versus the current run rate.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.

VGM ScoresAt this time, UMB has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for value investors.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise UMB has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry PlayerUMB belongs to the Zacks Banks - Midwest industry. Another stock from the same industry, Commerce Bancshares (CBSH - Free Report) , has gained 1.4% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

Commerce reported revenues of $475.69 million in the last reported quarter, representing a year-over-year change of +11.1%. EPS of $0.96 for the same period compares with $0.98 a year ago.

For the current quarter, Commerce is expected to post earnings of $1.02 per share, indicating a change of -10.5% from the year-ago quarter. The Zacks Consensus Estimate has changed +1.3% over the last 30 days.

Commerce has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.

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Stock to Watch: UMB Financial (UMBF - Free Report) Headquartered in Kansas City, MO, UMB Financial Corporation provides banking services and asset servicing in the United States. Its banking subsidiary — UMB Bank, National Association — offers banking, asset management, trust, credit card and cash-management services to commercial, retail, government and correspondent-bank customers.

UMBF is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 10.33; value investors should take notice.

For fiscal 2026, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.81 to $12.77 per share. UMBF boasts an average earnings surprise of +17.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, UMBF should be on investors' short list.