UMB Financial (UMBF) Q2 Earnings and Revenues Surpass Estimates

Company Performance - UMB Financial (UMBF) reported quarterly earnings of $2.16 per share, exceeding the Zacks Consensus Estimate of $1.96 per share, and up from $1.93 per share a year ago [3] - The company achieved revenues of $396.43 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.15%, compared to $370.27 million in the same quarter last year [7] - UMB has surpassed consensus EPS estimates four times over the last four quarters [1] Stock Performance - UMB shares have increased approximately 17.3% since the beginning of the year, outperforming the S&P 500's gain of 14.5% [4] - The current status of estimate revisions for UMB is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [5] Industry Outlook - The Zacks Industry Rank for Banks - Midwest is currently in the top 26% of over 250 Zacks industries, suggesting a favorable outlook for the industry [2] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked using tools like the Zacks Rank [11] Future Expectations - The current consensus EPS estimate for the upcoming quarter is $1.99 on revenues of $388.17 million, and for the current fiscal year, it is $8.04 on revenues of $1.56 billion [14]