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Posted by Defense World Staff on Apr 21st, 2026

Studio City Ih (NYSE:MSC – Get Free Report) and Manchester United (NYSE:MANU – Get Free Report) are both consumer discretionary companies, but which is the better stock? We will compare the two companies based on the strength of their profitability, valuation, analyst recommendations, earnings, institutional ownership, risk and dividends.

Institutional and Insider Ownership 23.3% of Manchester United shares are held by institutional investors. 54.9% of Studio City Ih shares are held by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock is poised for long-term growth.

Profitability This table compares Studio City Ih and Manchester United’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Studio City Ih -8.51% -9.60% -1.99% Manchester United -1.39% -4.85% -0.56% Risk and Volatility Studio City Ih has a beta of 0.07, meaning that its share price is 93% less volatile than the S&P 500. Comparatively, Manchester United has a beta of 0.58, meaning that its share price is 42% less volatile than the S&P 500.

Analyst Ratings This is a summary of current ratings and target prices for Studio City Ih and Manchester United, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Studio City Ih 1 0 0 0 1.00 Manchester United 1 0 0 0 1.00 Valuation and Earnings This table compares Studio City Ih and Manchester United”s top-line revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Studio City Ih $694.57 million 0.80 -$64.30 million ($0.31) -8.47 Manchester United $862.42 million 3.57 -$42.74 million ($0.07) -255.19 Manchester United has higher revenue and earnings than Studio City Ih. Manchester United is trading at a lower price-to-earnings ratio than Studio City Ih, indicating that it is currently the more affordable of the two stocks.

Summary Manchester United beats Studio City Ih on 9 of the 11 factors compared between the two stocks.

About Studio City Ih (Get Free Report)

Studio City International Holdings Limited operates an entertainment resort in Macau. It operates Studio City Casino, comprising gaming tables, including tables for VIP rolling chip operations and gaming machines; and resort, which offers various non-gaming attractions, including figure-8 ferris wheel, night club and karaoke venue, live performance arena, and an outdoor and indoor water park, as well as hotel rooms and various food and beverage establishments, and retail space. The company was formerly known as Cyber One Agents Limited and changed its name to Studio City International Holdings Limited in January 2012. The company was founded in 2000 and is based in Central, Hong Kong. Studio City International Holdings Limited is a subsidiary of MCO Cotai Investments Limited.

About Manchester United (Get Free Report)

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. It operates Manchester United Football Club, a professional football club. The company develops marketing and sponsorship relationships with international and regional companies to leverage its brand. It also markets and sells sports apparel, training and leisure wear, and other clothing; and other licensed products, such as coffee mugs and bed spreads featuring the Manchester United brand and trademarks, as well as distributes these products through Manchester United branded retail centers and e-commerce platforms, and through the company’s partners’ wholesale distribution channels. In addition, the company distributes live football content directly, as well as through commercial partners; broadcasts television rights relating to the Premier League, Union of European Football Associations club competitions, and other competitions; and delivers Manchester United programming through MUTV television channel to territories worldwide. Further, it operates Old Trafford, a sports venue with 74,240 seats, as well as invests in properties. The company was formerly known as Manchester United Ltd. changed its name to Manchester United plc in August 2012. Manchester United plc was founded in 1878 and is headquartered in Manchester, the United Kingdom.

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Vancouver, British Columbia--(Newsfile Corp. - May 7, 2026) - Manhattan Uranium Discovery Corp., formerly "Aero Energy Limited" (TSXV: MANU) (OTC Pink: AAUGF) (FSE: J5B) ("Manhattan") Urano Energy Corp. (CSE: UE) (OTCQB: UECXF) ("Urano") and Pegasus Resources Inc.  (TSXV: PEGA) ("Pegasus") are pleased to announce the successful completion of their previously announced business combinations, pursuant to which Manhattan has acquired all of the common shares of each of Urano and Pegasus by way of separate court approved plans of arrangement (the "Urano Arrangement" and the "Pegasus Arrangement", respectively, and together the "Arrangements"). The combined entity (the "Combined Company") shall continue under the name Manhattan Uranium Discovery Corp. and shall trade on the TSX Venture Exchange ("TSX-V") under the ticker symbol "MANU".

Strategic Rationale for the Transactions

Creation of a Leading North American Pure-Play Uranium Platform: Consolidates 15 past-producing uranium mines across 25 underexplored U.S. properties totaling 25,099 acres in the prolific Colorado Plateau region, complemented by high-grade exploration upside in Canada's world-class Athabasca Basin.Elite Uranium Team: Brings together a world-class management, technical, and capital markets team with decades of proven uranium discovery, development, and production success from senior leadership roles at EnCore Energy, NexGen Energy, Alpha Minerals, Union Carbide, and General Atomics.Expanded Historical Resource Base for Accelerated Growth: Consolidates a significant portfolio of historical uranium resources across multiple U.S. projects, positioning the Combined Company to accelerate exploration and development towards production.Positioned for the American Nuclear Renaissance: Features a high-quality portfolio of assets in premier U.S. jurisdictions, positioned to capitalize on surging domestic uranium demand and the growing national focus on energy security, with uranium now officially designated a critical mineral by the United States Geological Survey.Enhanced Capital Markets Profile and Liquidity: Significantly strengthens the Combined Company's market visibility and peer-group standing driving greater investor interest, share momentum, and potential inclusion in uranium-focused indices and ETFs.William Sheriff, Incoming Chairman and Director of Manhattan, stated: "By bringing together complementary teams and assets, the successful closing of the Urano and Pegasus acquisitions creates a significantly stronger platform with greater scale and visibility for Manhattan Uranium Discovery Corp. This combination expands our collective impact - allowing us to align our technical expertise, prioritize the most compelling catalysts, and advance our consolidated portfolio with greater focus and discipline as uranium becomes increasingly strategic to North American energy security."

Galen McNamara, Chief Executive Officer and Director of Manhattan, stated: "With the successful closing of the Urano and Pegasus acquisitions, Manhattan Uranium Discovery Corp. is now one of North America's most compelling pure-play uranium platforms. Our board and management team bring decades of uranium discovery success, project advancement, and public-market execution. That experience is critical as uranium re-emerges as a strategic priority for North American energy security. By consolidating 15 past-producing mines, a strong historical resource base, and high-grade Athabasca Basin potential, we are positioned to build meaningful scale, focus capital on the highest-impact catalysts, and deliver value at this pivotal time for the sector."

Figure 1: Project Locations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/285891_0a4b6900342b7844_001full.jpg

Figure 2: Colorado Plateau Project Locations

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https://images.newsfilecorp.com/files/8126/285891_0a4b6900342b7844_002full.jpg

Board of Directors of the Combined Company

The Combined Company's board of directors will be comprised of William Sheriff as Chairman, Galen McNamara, John Hamrick, Grace Marosits, and Garrett Ainsworth.

Securities Issued Under the Arrangements

Urano

Under the terms of the Urano Arrangement, each Urano shareholder received 0.2 Manhattan common shares (the "Manhattan Shares") for each common share of Urano held, representing an aggregate issuance of 40,415,959 Manhattan Shares to each of the former Urano shareholders. Unexercised Urano warrants will now entitle the holder to acquire 0.2 Manhattan Shares for each Urano common share previously provided for at an exercise price adjusted in accordance with such exchange ratio. Unexercised Urano stock options will be exchanged for replacement options to acquire 0.2 Manhattan Shares for each Urano common share previously provided for at an exercise price adjusted in accordance with such exchange ratio. All other terms and conditions of the Urano warrants and Urano stock options will be the same, provided the Manhattan replacement options will be governed by the terms of Manhattan's stock option plan. Based on the outstanding Urano warrants as of the effective time of the Urano Arrangement, an aggregate of approximately 1,487,315 Manhattan Shares are issuable upon the exercise of pre-existing Urano warrants.

Pegasus

Under the terms of the Pegasus Arrangement, each Pegasus shareholder received 0.133 Manhattan common shares for each common share of Pegasus held, representing an aggregate issuance of 5,305,584 common Manhattan Shares to each of the former Pegasus shareholders. Unexercised Pegasus warrants will now entitle the holder to acquire 0.133 Manhattan Shares for each Pegasus common share previously provided for at an exercise price adjusted in accordance with such exchange ratio. Unexercised Pegasus stock options will be exchanged for replacement options to acquire 0.133 Manhattan Shares for each Pegasus common share previously provided for at an exercise price adjusted in accordance with such exchange ratio. All other terms and conditions of the Pegasus warrants and Pegasus stock options will be the same, provided the Manhattan replacement options will be governed by the terms of Manhattan's stock option plan. Based on the outstanding Pegasus warrants as of the effective time of the Pegasus Arrangement, an aggregate of approximately 1,442,020 Manhattan Shares are issuable upon the exercise of pre-existing Pegasus warrants.

Subscription Receipt Financing

Concurrent with the completion of the Urano Arrangement and the satisfaction of the escrow release conditions in connection with Manhattan's previously announced subscription receipt financing (the "Subscription Receipt Financing"), the 26,249,999 subscription receipts issued pursuant thereto automatically converted into units of Manhattan, resulting in the issuance of an aggregate of 26,249,999 common shares of Manhattan, and warrants entitling the holders to acquire an additional 26,249,999 common shares of Manhattan at an exercise price of $0.60 until March 31, 2028.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

Additional Information for Registered Urano and Pegasus Shareholders

Registered shareholders of Urano and Pegasus will receive shares of Manhattan to which they are entitled upon delivery to Computershare Trust Company of Canada ("Computershare") of their respective and/or as applicable a copy of the Direct Registration System advice(s) and completed letters of transmittal together with other required documents. Shareholders are encouraged to contact Computershare at 1-800-564-6253 or [email protected] for further information concerning the exchange process. The vast majority of shareholders of Urano and Pegasus are non-registered shareholders. Non-registered shareholders do not need to deposit share certificates or letters of transmittal. In addition, holders of warrants and options of Urano or Pegasus do not need to tender their certificates representing such securities and their current certificates will now entitle the holder to acquire Manhattan shares on the applicable terms described above.

Each of the Urano Arrangement and the Pegasus Arrangement was completed on an arm's length basis. Further information about the Arrangements is set forth in the materials prepared by Urano and Pegasus in respect of the special meetings of the shareholders of Urano and Pegasus which were mailed to the Urano and Pegasus shareholders and filed under Urano and Pegasus' profiles on SEDAR+ at www.sedarplus.ca.

Urano is expected to be de-listed from the Canadian Securities Exchange on or about May 8, 2026. Pegasus is expected to be de-listed from the TSXV on or about May 11, 2026. Manhattan also intends to submit an application to the applicable securities regulators to have Urano and Pegasus cease to be reporting issuers and terminate their public reporting obligations.

Upon the closing of the Arrangements, Eventus Capital Corp. was issued 250,000 units of Manhattan (the "Advisory Units") as partial consideration for financial advisory services provided to Manhattan, respectively, in connection with the Arrangements. The Advisory Units were issued at a deemed price of $0.40 per unit. Each Advisory Unit is comprised of one Manhattan Share and one Manhattan share purchase warrant with each whole warrant exercisable to acquire one Manhattan Share at an exercise price of $0.60 for a period of 24 months from issuance.

Early Warning Disclosure

Prior to the Arrangements, Manhattan held nil common shares of Urano and Pegasus. Following the completion of the Arrangements, Manhattan holds all of the issued and outstanding shares of Urano and Pegasus. An early warning report will be filed by Manhattan under Urano and Pegasus' respective SEDAR+ profiles at www.sedarplus.ca in accordance with applicable securities laws. A copy of the early warning report in respect of the acquisition of Urano and Pegasus may also be requested from Manhattan by mail at Suite 918, 1030 West Georgia Street, Vancouver, British Columbia V6E 2Y3.

Advisors and Counsel

Eventus Capital Corp. acted as exclusive financial advisor to Manhattan. Forooghian + Company Law Corporation acted as Canadian legal advisor to Manhattan. Morton Law LLP acted as Canadian legal advisor to Urano and Pegasus.

Legal Update

Further to the news release dated March 2, 2026, Manhattan is also pleased to advise that the civil action commenced against Manhattan in the State of Nevada pro-se by William Matlack in connection with historical transactions involving certain mineral claims located in Lander County, Nevada has been fully dismissed without any payment or settlement by Manhattan.

Bridge Loans

Further to the prior news release dated March 2, 2026, the bridge loans of $1,000,000 and $80,000 to Urano and Pegasus, respectively, shall remain in place as secured intercompany loans.

Stock Option Grant

Manhattan also announces that it has granted an aggregate of 6,200,000 incentive stock options (the "Options") to certain directors, officers and consultants of Manhattan pursuant to the Manhattan's stock option plan, which vest over a six month period, with each Option exercisable at a price of $0.40 to acquire one common share of Manhattan until May 7, 2031.

About Manhattan

Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: AAUGF) (FSE: J5B) is a newly formed North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin.

Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance.

For more information about Manhattan, please visit: www.manhattanuranium.com

About Urano

Urano is a mineral exploration company which holds numerous advanced conventional uranium projects hosting historic resources and mining lode claims in the Colorado Plateau, a region with a rich history of uranium and vanadium mining. As the need and support for domestic uranium and nuclear energy in the United States advances, Urano is well positioned to complete the necessary work to advance permitting for key projects.

For more information about Urano, please visit: www.uranoenergy.com.

About Pegasus

Pegasus Resources Inc. is a Canadian uranium exploration company focused on advancing high-potential projects in the United States. Pegasus' flagship asset, the Jupiter Uranium Project in Utah, is a drill-ready property positioned for resource expansion. With a commitment to strengthening domestic uranium supply, Pegasus is strategically developing its portfolio to capitalize on the growing demand for nuclear energy.

For more information about Pegasus, please visit: www.pegasusresourcesinc.com.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

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X: https://x.com/manhattanurLinkedIn: https://www.linkedin.com/company/manhattanuranium/Cautionary Statement Regarding Forward-Looking Information

Certain information contained herein may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities legislation, that involve known and unknown risks, assumptions, uncertainties and other factors. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements may be identified by words like "anticipates", "estimates", "expects", "indicates", "forecast", "intends", "may", "believes", "could", "should", "would", "plans", "proposed", "potential", "will", "target", "approximate", "continue", "might", "possible", "predicts", "projects" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include but are not limited to: statements regarding the combined entity continuing under the name Manhattan Uranium Discovery Corp.; the trading of the common shares of Manhattan on the TSX Venture Exchange under the ticker symbol "MANU"; the anticipated benefits of the Arrangements, including increased scale, visibility, liquidity and access to capital; the Combined Company's ability to advance its portfolio, prioritize exploration and development activities, and accelerate progress toward potential production; expectations regarding uranium market conditions, including growing demand and the role of nuclear energy in North American energy security; the receipt by registered shareholders of Urano and Pegasus of Manhattan common shares upon satisfaction of applicable conditions, including the delivery of required documentation; the termination of any reporting obligations and de-listing of Urano and Pegasus; the issuance of any common shares or warrants of Manhattan, and the entitlement of holders of warrants and options of Urano and Pegasus to acquire Manhattan common shares in accordance with the adjusted terms thereof.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the public health crises; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.

Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Manhattan undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296564

Source: Manhattan Uranium Discovery Corp.

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MANCHESTER, England--(BUSINESS WIRE)--Manchester United plc (NYSE: MANU), announces that it will report results for the third quarter fiscal 2026 period ended 31 March 2026 via press release on 27 May 2026 at 7:00 AM EST.

About Manchester United

Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 148-year football heritage we have won 69 trophies, enabling us to develop what we believe is one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers, per latest available survey data from 2019. Our large, passionate, and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club.

More News From Manchester United plc

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MANCHESTER, England--(BUSINESS WIRE)--Manchester United is delighted to announce that Michael Carrick will continue as Head Coach of the men’s first-team, having signed a new contract which will run to 2028.

Carrick returned to United as Head Coach in January and was awarded the Premier League Manager of the Month award after victories against Manchester City and Arsenal in his first two games in charge. He has overseen qualification into next season’s UEFA Champions League with 11 wins from 16 games, accumulating the highest points tally in the Premier League since his arrival.

One of United’s most successful and decorated players, Carrick played 464 games for the club, winning five Premier League titles, the FA Cup, two League Cups, the UEFA Champions League, the UEFA Europa League and the FIFA Club World Cup.

Michael Carrick, head coach, said: “From the moment that I arrived here 20 years ago, I felt the magic of Manchester United.

“Carrying the responsibility of leading our special football club fills me with immense pride.

“Throughout the past five months this group of players have shown they can reach the standards of resilience, togetherness and determination that we demand here.

“Now it’s time to move forward together, with ambition and a clear sense of purpose. Manchester United and our incredible supporters deserve to be challenging for the biggest honours again.”

Jason Wilcox, Manchester United Director of Football, said: “Michael has thoroughly earned the opportunity to continue leading our men’s team. In the time he has been doing the role, we have seen positive results on the pitch, but more than that, an approach which aligns with the club’s values, traditions and history.

“Michael’s achievements in leading the club back to the Champions League should not be understated. He has forged a strong bond with the players and can be proud of the winning culture at Carrington and in the dressing room, which we are continuing to build.”

ABOUT MANCHESTER UNITED

Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 146-year heritage we have won 69 major trophies, enabling us to develop the world’s leading sports brand and a global community of 1.1 billion fans and followers. Our large, passionate community provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, new media & mobile, broadcasting and match day.

Vancouver, British Columbia--(Newsfile Corp. - June 4, 2026) - Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) ("Manhattan") and Fortune Bay Corp. (TSXV: FOR) (FSE: 5QN) (OTCQB: FTBYF) ("Fortune Bay") are pleased to announce that priority drill targets have been selected for the upcoming exploration program at the Murmac and Strike Uranium Projects ("Murmac" and "Strike", and collectively, the "Murmac and Strike Projects" or the "Projects"), located near Uranium City in northern Saskatchewan.

The upcoming program is expected to consist of approximately 5,000 metres of drilling to test up to 25 priority targets across the Projects. The targets include both follow-up opportunities near previous uranium results and first-pass tests of newly defined targets along more than 60 kilometres of prospective electromagnetic conductor packages on the northern margin of the Athabasca Basin.

The program is being funded by Manhattan pursuant to an option agreement (see Fortune Bay's press release dated December 18, 2023 and Manhattan's press release dated December 11, 2025), with Fortune Bay acting as operator.

Program Highlights

Large-scale drill program planned: Approximately 5,000 metres of drilling is planned to test up to 25 priority targets across Murmac and Strike.

Multiple discovery opportunities: The program is designed to test a broad pipeline of targets across multiple conductive corridors, providing exposure to several potential discovery areas in a single campaign.

Targets selected using multiple discovery criteria: Targets were selected based on integrated geological, geophysical and geochemical datasets, with an emphasis on areas where favourable structure, graphitic host rocks, uranium anomalism and alteration coincide.

Extensive prospective conductor packages: Murmac and Strike collectively host approximately 63 kilometres of prospective electromagnetic conductor packages, providing a large target inventory for basement-hosted uranium exploration.

Murmac high-grade uranium results: Previous drilling at Murmac returned 8.40 metres grading 0.30% U₃O₈, including 1.20 metres grading 1.79% U₃O₈, with individual assays up to 13.80% U₃O₈ over 0.10 metres in drill hole M24-0171.

Strike high-grade uranium results: At Strike, Fortune Bay's maiden drill program intersected anomalous uranium in three of nine shallow drill holes, including a maximum individual assay of 0.43% U₃O₈. Historical small-scale production from the Tena Zone reportedly included grades of 0.6% to 3.5% U₃O₈, and confirmatory surface rock sampling returned assays including 3.51% U₃O₈ and 1.75% U₃O₈2.

Drilling expected shortly: Mobilization is being planned, with drilling expected to commence in June 2026.

"The global energy landscape is undergoing a fundamental shift, and uranium sits at the centre of it," said William Sheriff, Chairman of Manhattan. "The Athabasca Basin remains one of the world's premier uranium regions, and having built and sold one of the largest domestic uranium resource bases in U.S. history, I know firsthand how exploration success in the right geological setting can create significant value."

"The Murmac and Strike drill program represents a significant catalyst for Manhattan Uranium," said Galen McNamara, CEO of Manhattan. "The Athabasca Basin has a well-established track record of delivering world-class uranium discoveries, and we believe our projects share the key geological characteristics that have defined the Basin's most significant finds. With a fully funded 25-hole program set to commence in June, we look forward to reporting results as drilling advances."

Murmac and Strike Projects Overview

The Murmac and Strike Projects comprise mineral claims totalling approximately 19,877 hectares within 25 kilometres of Uranium City, Saskatchewan, on the northern margin of the Athabasca Basin. The Projects benefit from established infrastructure, including existing roads, an active hydro-powerline, nearby facilities, and an airport at Uranium City.

The Projects are prospective for high-grade, basement-hosted uranium deposits associated with graphitic electromagnetic conductor corridors, structural reactivation, alteration and uranium-bearing mineralizing systems. Murmac and Strike collectively host approximately 63 kilometres of prospective electromagnetic conductor packages, which were not systematically targeted or drill tested during historical exploration efforts.

Exploration completed by Manhattan and Fortune Bay has included compilation of historical exploration data, modern airborne electromagnetic and magnetic surveying, ground gravity surveying, prospecting, radon-in-water surveying, and diamond drilling. This work has confirmed favourable host rocks, prospective structures, uranium mineralization, and multiple target areas warranting follow-up drilling.

The upcoming program is designed to systematically test priority targets where multiple exploration criteria coincide, including favourable graphitic conductors, interpreted structures, uranium mineralization or anomalism, alteration, and supportive historical exploration results.

Figure 1: Location of the Murmac and Strike Uranium Projects.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/300086_14da9f3034924817_001full.jpg

Murmac Previous Exploration Highlights

At Murmac, previous drilling has confirmed shallow uranium mineralization associated with structured graphitic rocks, the typical host rocks for basement-hosted high-grade Athabasca Basin uranium deposits.

Drill hole M24-017, completed at Howland Lake North, intersected 8.40 metres grading 0.30% U₃O₈, including 1.20 metres grading 1.79% U₃O₈, with individual assays up to 13.80% U₃O₈ over 0.10 metres and 4.54% U₃O₈ over 0.10 metres. This high-grade mineralization was intersected at approximately 64 metres below surface within favourable structured graphitic rocks. Drilling at Murmac has intersected elevated uranium (> 100 ppm) associated with graphitic rocks and hydrothermal alteration in 12 of 31 previous holes across the entire length of the targeted conductors, indicating the presence of a large-scale uranium mineralizing system1.

Figure 2: Murmac previous results and drill targets. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/300086_14da9f3034924817_002full.jpg

Strike Previous Exploration Highlights

At Strike, previous exploration has confirmed uranium potential at surface, in historical workings and through drilling.

Historical small-scale mining at the Tena Zone reportedly produced over 1,000 tons in the 1950s at grades of 0.6% to 3.5% U₃O₈. Confirmatory surface sampling by Fortune Bay returned high-grade uranium assays, including 3.51% U₃O₈ and 1.75% U₃O₈, confirming the presence of high-grade uranium mineralization at surface2.

Fortune Bay's maiden drill program at Strike also confirmed basement-hosted uranium mineralization. Analytical results confirmed anomalous uranium in three of nine shallow drill holes, including a maximum individual assay of 0.43% U₃O₈. Uranium mineralization was associated with enriched pathfinder elements commonly associated with high-grade, unconformity-related uranium deposits in the Athabasca Basin2.

The upcoming program will follow up near previous Strike results and test additional priority targets along prospective conductor corridors and structural trends.

Figure 3: Strike previous results and drill targets.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/300086_14da9f3034924817_003full.jpg

Option Agreement

The Projects are subject to an option agreement dated December 15, 2023, as amended on November 13, 2025, under which Manhattan has the right to acquire up to a 70% interest in Murmac and Strike by funding an aggregate of C$6 million in exploration expenditures, making cash payments of an aggregate of C$1.35 million, and issuing an aggregate of C$2.15 million in common shares. Fortune Bay is the operator during the option period and is entitled to charge a 10% management fee on exploration expenditures.

Technical Disclosure

Drill results refer to drill core and surface grab samples submitted to the Saskatchewan Research Council ("SRC") Geoanalytical Laboratories (ISO/IEC 17025:2005 accredited) for uranium assay and multi-element characterization. Sample preparation for all samples included drying, jaw crushing to 60% passing -2 mm, and pulverizing to 90% passing -106 microns. Multi-element characterization was carried out by partial digestion (HNO3:HCl), using ICP-OES and ICP-MS analytical methods. For selected samples U3O8 weight % was determined separately through partial digest (HCl:HNO3) and ICP-OES (ISO/IEC 17025 accredited method).

Further details regarding the historical exploration/drilling and exploration results noted in this news release can be found within the Saskatchewan Mineral Assessment Database (SMAD) and the Saskatchewan Mineral Deposit Index (SMDI). Fortune Bay has verified several of these occurrences through field prospecting and sampling, however there is a risk that any future confirmation work and exploration may produce results that substantially differ from the unverified historical results. Historical drill hole locations, captured from georeferenced assessment report maps, are subject to uncertainty (considered accurate to +/-50 metres). Manhattan considers these unverified historical results relevant to assess the mineralization and economic potential of the Projects. The historical information referenced derives from SMAD references 74N07-0011, 74N07-0173, 74N07-0277, 74N11-SE-0016 and 74N11-0052.

Chilean Properties

Manhattan also announces that it has terminated the purchase and sale agreement dated December 9, 2025 with Batik Resources Ltd. to sell 100% of the issued and outstanding shares of RIO Explorations SpA (which directly holds the Dorado and Cordillera gold projects in Chile's Atacama Region).

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO and Director of Manhattan, who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. McNamara is not independent of Manhattan.

About Manhattan

Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) is a newly consolidated North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin.

Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance.

For more information about Manhattan, please visit: www.manhattanuranium.com.

About Fortune Bay

Fortune Bay Corp. (TSXV: FOR) (FSE: 5QN) (OTCQB: FTBYF) is a Canadian mineral exploration and development company with assets in Canada and Mexico. Fortune Bay's primary focus is advancing the Goldfields Gold Project in Saskatchewan, Canada. Fortune Bay also holds the Poma Rosa Gold-Copper Project in Chiapas, Mexico, as well as an optioned uranium project portfolio in the Athabasca Basin of Saskatchewan. Fortune Bay continues to evaluate and advance its portfolio in a disciplined manner while maintaining a strong technical foundation and prudent capital management. For more information, please visit www.fortunebaycorp.com or contact [email protected].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Follow us on social media for the latest updates:

X: https://x.com/manhattanurLinkedIn: https://www.linkedin.com/company/manhattanuranium/On behalf of the Board of Directors of Manhattan
Galen McNamara
CEO & Director
1 (604) 288-8046
[email protected]

References

https://fortunebaycorp.com/news/post/aero-energy-and-fortune-bay-confirm-shallow-high-grade-uranium-up-to-13.80-u3o8-from-drilling-at-murmacSaskatchewan Mineral Assessment Database Files 74N07-0011, 74N07-0173, 74N07-0277, 74N11-SE-0016 and 74N11-0052. (https://www.saskatchewan.ca/business/agriculture-natural-resources-and-industry/mineral-exploration-and-mining/saskatchewan-geological-survey/saskatchewan-mineral-assessment-database-smad)FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "may", "will", "expect", "intend", "believe", "anticipate", "estimate", "target", "plan", "potential", "could" or similar terminology. Forward-looking statements in this release include, without limitation the results from work performed to date; the estimation of mineral resources; the realization of mineral resource estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of each of Manhattan's and Fortune Bay's mineral properties and project portfolios, including but not limited to the proposed drilling program referenced herein, including the timing, scope and execution thereof and remaining approvals; exploration expenditures, costs and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; current geopolitical developments, including but not limited to U.S. government policy; environmental risks; the timing and possible outcome of pending regulatory matters, including but not limited to the payment of bonds in connection with the proposed programs and plans referenced herein; the realization of the expected economics of mineral properties; future growth potential of mineral properties; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.

Forward-looking statements are based on respective management's current beliefs, expectations and assumptions, including, without limitation: that historical information is reliable; that future exploration activities will proceed as currently anticipated; that permits, equipment, personnel and contractors will be available on commercially reasonable terms; and that current commodity prices, labour availability, cost and regulatory frameworks will remain consistent with respective management's expectations. Although respective management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: the risk that historical data may prove to be inaccurate or unverifiable; that exploration results may not support further work or drilling; that exploration activities may be delayed, restricted or not carried out as planned; that permits may be delayed or revoked; the absence of adverse conditions at mineral properties; the price of uranium and other metals remaining at levels that render mineral properties economic; each of Manhattan's and Fortune Bay's ability to continue raising necessary capital to finance operations; and the ability to realize on any mineral resource and reserve estimates; each of Manhattan's and Fortune Bay's ability to complete its planned exploration programs; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the business objectives of each of Manhattan and Fortune Bay; whether economic mineralization can be defined and, if it can be permitted for development; the uncertainty that any mineralization encountered on adjacent properties continues on to any of Manhattan's and Fortune Bay's properties; the uncertainty that geological and/or geophysical and/or any trends, interpretations, or conclusions related to adjacent properties have relevance to any of Manhattan's and Fortune Bay's properties; the uncertainty that the exploration season can be extended; changes in project parameters as plans to continue to be refined; the consequences and implications of the historical mining activities on the environment and whether such affects the potential exploration and/or development of any mining operation on any of Manhattan's and Fortune Bay's properties; the implications of claims from First Nations, Tribes, Tribal Councils or Tribal Governments and land claims settlements on any of Manhattan's and Fortune Bay's projects; accidents, labour disputes and other risks of the mining industry, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; future prices of metals; possible variations of mineral grade or recovery rates; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; title to properties; operational, technical and geological risks inherent in mineral exploration; changes in capital markets, economic conditions, regulatory developments and stakeholder relations; the other risks set out in each of Manhattan's and Fortune Bay's public disclosure record under its profile on SEDAR+ (www.sedarplus.ca) and respective management's ability to anticipate and manage the foregoing risks and uncertainties.

Each of Manhattan and Fortune Bay provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Each of Manhattan and Fortune Bay does not undertake to update any forward-looking statements, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300086

Source: Manhattan Uranium Discovery Corp.

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Posted by Defense World Staff on Apr 2nd, 2026

Empire State Realty OP, L.P. (NYSE:ESBA – Get Free Report)’s stock price shot up 2.2% on Wednesday . The company traded as high as $5.50 and last traded at $5.1490. 8,143 shares changed hands during trading, a decline of 16% from the average session volume of 9,643 shares. The stock had previously closed at $5.04.

Empire State Realty OP Stock Up 2.2% The stock’s fifty day simple moving average is $5.80 and its two-hundred day simple moving average is $6.56.

Empire State Realty OP Announces Dividend The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, March 13th.

Institutional Investors Weigh In On Empire State Realty OP Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Empire State Realty OP by 7,049.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,502,442 shares of the company’s stock worth $15,765,000 after purchasing an additional 2,467,442 shares during the period. Susquehanna International Group LLP grew its holdings in shares of Empire State Realty OP by 16.5% during the 3rd quarter. Susquehanna International Group LLP now owns 112,754 shares of the company’s stock worth $839,000 after purchasing an additional 15,972 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Empire State Realty OP during the 4th quarter worth about $535,000. Mercer Global Advisors Inc. ADV increased its position in Empire State Realty OP by 31.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,000 shares of the company’s stock worth $244,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Bard Associates Inc. acquired a new stake in Empire State Realty OP during the 4th quarter worth approximately $181,000.

About Empire State Realty OP (Get Free Report)

Empire State Realty OP is the operating partnership affiliated with Empire State Realty Trust, a real estate investment trust focused on ownership, operation and redevelopment of office and retail properties. Through its portfolio, the company generates income primarily by leasing space in landmark and Class A office buildings, managing tenant relationships and overseeing property operations, maintenance and marketing efforts.

The partnership’s flagship asset is the iconic Empire State Building in New York City, a 102‐story office tower and major tourist attraction.

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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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What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most 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 A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure 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.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

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 #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.

Expanded footprint and advanced automation to support Electro Dépôt’s growth in France

PARIS, France, April 15, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, today announced the renewal and expansion of its long-standing partnership with Electro Dépôt, a leading European retailer specializing in home appliances and consumer electronics. Under the renewed agreement, GXO will continue to support Electro Dépôt’s growth strategy in France through an expanded logistics footprint, combining the extension of the existing Fos-sur-Mer site with the launch of a new distribution facility in Port-Saint-Louis-du-Rhône, dedicated to small domestic appliances.

“This partnership extension with Electro Dépôt illustrates GXO’s ability to act as a long-term strategic partner for leading retailers, supporting growth through scalable, technology-enabled logistics hubs,” said Vincent Ricci, Managing Director, France, GXO. “By combining operational excellence, advanced technology and a strong people-first culture, we’re supporting Electro Dépôt’s growth ambitions in France.”

Samuel Saintenoy, Head of Supply Chain, Electro Dépôt said: “This partnership extension reflects our long-standing trust in GXO’s operational expertise and ability to support our growth with reliable, innovative and efficient logistics solutions. The expansion of our logistics network in southern France will strengthen our supply chain performance while supporting our ambitions in terms of service quality, innovation and sustainability.”

Expanded, strategically located logistics network
As part of the partnership extension, the Fos-sur-Mer distribution center has been expanded to 55,000 square meters, while a new 24,000-square-meter facility in Port-Saint-Louis-du-Rhône will further strengthen Electro Dépôt’s supply chain capabilities. Both sites are located within the industrial zone of the Port of Marseille-Fos, a key logistics hub providing efficient access to southern France as well as Spain. This strategic positioning enables faster deliveries, increased flexibility and improved service levels for Electro Dépôt’s retail network.

Technology-driven operations to support performance and safety
In line with GXO’s focus on innovation, both sites will benefit from the deployment of advanced automation and digital solutions, including inventory drones and robotic unloading systems. These technologies are designed to enhance operational efficiency, improve inventory accuracy and reduce physical strain for employees, while supporting scalable and resilient logistics operations.

Strong ESG commitments embedded in the project
Sustainability is a core pillar of the partnership extension. The new Port-Saint-Louis-du-Rhône site is equipped with photovoltaic panels, while the Fos-sur-Mer facility will benefit from solar rooftop installations and photovoltaic canopies, including electric vehicle charging stations. These initiatives are contributing to reducing the environmental footprint of logistics operations and support GXO’s broader ESG objectives.

GXO is one of the world’s leading logistics partners for the technology and consumer electronics sector, providing highly reliable, end-to-end solutions designed for products that require advanced handling, security and precision. Every day, GXO teams process hundreds of thousands of telecom devices, home electronics and related equipment with consistently replicable accuracy.

GXO in France
GXO has been helping customers in France optimize their logistics for several decades and operates over 60 warehouses throughout the country. Currently ranked the #2 logistics service provider in France by Supply Chain Magazine, GXO manages logistics for customers in a variety of sectors, including ecommerce, retail, FMCG and technology. In France, GXO employs nearly 8,700 team members.

About Electro Dépôt

Founded in 2004, ELECTRO DEPOT is a leading European retailer specializing in household appliances and consumer electronics. By focusing on a "no-frills" warehouse concept and curated selections, the brand guarantees prices averaging 20% below the market without compromising on quality. Based in France, the Group operates 125 stores across France, Belgium, and Spain, supported by 2,200 employees. In 2025, ELECTRO DEPOT achieved a turnover of €1.5 billion. www.electrodepot.fr

About GXO Logistics
GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has more than 150,000 team members across more than 1,000 facilities totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Media contacts
Claudia Roux
+33 6 28 45 59 72
[email protected]

Matthew Schmidt 
+1 203-307-2809 
[email protected]