UMB Financial Corporation
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Range $147 – $182
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About the company
UMB Financial Corporation serves as the holding company for UMB Bank, delivering a comprehensive array of banking and financial solutions. Its Commercial Banking division provides businesses with essential services, including commercial loans, credit cards, and real estate financing. This segment also offers letters of credit, loan syndication, and consultative support.
- CEO
- J. Mariner Kemper
- IPO
- 1980
- Employees
- 5,222
- HQ
- Kansas City, MO, US
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Similar companies
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- Market Cap
- $9.86B
- P/E
- 10.75
- Fwd P/E
- 9.80
- PEG
- 0.28
- P/S
- 2.16
- P/B
- 1.23
- EV/EBITDA
- 10.90
- Div Yield
- 1.38%
- Gross Margin
- 58.45%
- Op Margin
- 22.12%
- Net Margin
- 20.67%
- ROE
- 12.17%
- ROIC
- 1.11%
Latest fiscal year · YoY change
- Revenue
- $4.44B+68.5%
- Gross Profit
- $2.42B+72.0%
- Op Income
- $899.96M
- Net Income
- $702.40M+59.2%
- EPS
- $9.20+1.7%
- OCF Growth
- +355.7%
- FCF Growth
- +386.4%
- 52W High
- $153.32
- 52W Low
- $103.38
- 50D MA
- $141.68
- 200D MA
- $130.01
- Beta
- 0.78
- RSI (14)
- 31
- Avg Volume
- 608.84K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
UMB Financial reported a strong second quarter with record loan production, expanding core margin, solid fee growth, and continued capital build.· July 29, 2026
- Net income was $271.8 million and EPS was $3.56, with operating ROTCE at 20.3% and operating efficiency at 48.1%.
- Average loan balances grew at a 12.6% linked-quarter annualized rate, supported by record $2.6 billion gross production and strong C&I growth.
- Core margin rose 4 bps sequentially to 3.09% excluding purchase accounting accretion; reported NIM was 3.32%.
- Fee income was strong: noninterest income reached $245.5 million, institutional fee income rose 6% sequentially and 19.6% year over year, and Fund Services AUA rose to $622 billion.
- Capital continued to build, CET1 reached 11.45%, and the board raised the quarterly dividend to $0.50 per share, up 16.3%; the company also repurchased about 38,000 shares for $5 million.
Second-quarter net income was $271.8 million and diluted EPS was $3.56. Operating ROTCE was 20.3% and the operating efficiency ratio was 48.1%. Average loan balances grew 12.6% linked-quarter annualized, with record gross production of $2.6 billion. Net charge-offs were 16 bps of average loans, and nonperforming loans were 31 bps, down from 38 bps in Q1. Reported net interest margin was 3.32%; excluding 23 bps of purchase accounting accretion, core margin was 3.09%, up 4 bps sequentially. Noninterest income was $245.5 million, up $40.7 million or nearly 20% from Q1, and operating noninterest expense was $398 million, up 6% sequentially. For the remainder of 2026, contractual accretion is estimated at approximately $46 million, and 2027 accretion at $77 million. Management said third-quarter operating expense should be in line with current consensus of approximately $390 million, third-quarter margin should be relatively flat versus the 3.09% adjusted margin, and the tax rate should remain between 20% and 22% for 2026.
Mariner Kemper framed the quarter as a continuation of broad-based momentum across the franchise, repeatedly describing loan growth and fee expansion as “business as usual” rather than a one-off. He emphasized that growth is coming across all regions and verticals, driven more by market share gains than by unusually strong macroeconomic activity. His tone was confident and balanced: he highlighted strong performance, but also said the bank will prioritize growth only when it comes at a reasonable spread and will keep focusing on core deposits and balance sheet flexibility.
Ram Shankar provided the key bridge for the quarter’s financials: $35.9 million of net interest income came from purchase accounting adjustments, including $10.9 million of accelerated accretion from early loan payoffs, and total accretion added about 23 bps to NIM. He said noninterest income rose to $245.5 million, while operating noninterest expense was $398 million, with the main expense pressures coming from salaries and benefits, deferred compensation, and operational losses. Looking ahead, he guided to third-quarter operating expense around $390 million, core NIM roughly flat versus the 3.09% adjusted second-quarter level, and a 2026 tax rate of 20% to 22%.
Analysts focused on loan production, deposit trends, fee income sustainability, core NIM, and capital deployment. Management said loan production remains strong across the footprint, deposits are seasonally pressured in the third quarter but supported by a good pipeline, and off-balance sheet client deposits do not mechanically drive fee income because the businesses are growing independently. They also said trust and securities processing fees should keep growing at a similar pace with possible upside, and that capital deployment will remain centered on organic loan growth first, with dividends and buybacks as a more balanced secondary use of capital.
The bull case from this call is that UMB is still growing loans rapidly while maintaining strong credit quality and improving core margin. Fee businesses also look healthy, with management seeing continued share gains, strong pipelines, and upside in Fund Services and Corporate Trust. Capital is rising, dividends are increasing, and the balance sheet remains flexible with excess cash and off-balance-sheet deposits.
The main risks discussed were deposit seasonality, flat average deposits in the quarter, and the possibility that future margin expansion is limited if DDA mix and funding costs move unfavorably. Expenses also increased 6% sequentially, partly due to deferred compensation and operational losses, which could keep operating leverage harder to expand quarter to quarter. Management also flagged that accretion will step down over time, so some of the current NII support will fade.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 95.1%
- Shares Outstanding
- 75.95M
- Float Shares
- 72.24M
of shares held by institutions
490 13F filers
Buy/sell ratio 0.23. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for UMBF, newest first.
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 10.22M | ▲ 871.18K |
| Vanguard Group Inc | 7.68M | ▼ 84.06K |
| Umb Bank, N.A. | 4.67M | ▼ 48.61K |
| Vanguard Portfolio Management LLC | 4.21M | ▲ 76.90K |
| State Street Corp | 4.13M | ▲ 151.68K |
| Vanguard Capital Management LLC | 3.13M | ▲ 29.05K |
| Dimensional Fund Advisors LP | 3.03M | ▲ 120.92K |
| Fmr LLC | 2.67M | ▲ 249.23K |
| Geode Capital Management, LLC | 2.06M | ▲ 117.46K |
| Wellington Management Group Llp | 1.69M | ▼ 1.02M |
| Neuberger Berman Group LLC | 1.56M | ▼ 137.40K |
| Alliancebernstein L.P. | 1.30M | ▲ 80.63K |
Held by 497 ETFs
Biggest fund positions in UMBF by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 1, 26 | Peterman Tamara | buy | 394.055 |
| Sep 1, 26 | GRAVES GREG M | buy | 573.145 |
| Aug 17, 26 | Terry Thomas S | sell | 5,713 |
| Aug 17, 26 | Shankar Ram | sell | 2,000 |
| Aug 6, 26 | Murphy Susan G | sell | 475 |
| Aug 6, 26 | Murphy Susan G | sell | 902 |
| Aug 4, 26 | KEMPER J MARINER | sell | 15,062 |
| Aug 5, 26 | Odgers David Carl | sell | 145 |
| Aug 4, 26 | Wilson Uma | sell | 4,145 |
| Aug 4, 26 | Newton Nikki Farentino | sell | 1,999 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our UMBF coverage
Recent articles, reports, and earnings notes.
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