NASDAQ$UMBF
UMB Financial Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
UMB Financial reported net income of $109.6 million for the third quarter of 2024.
UMB Financial Corporation reported a solid financial performance in Q3 2024, with a net income of $109.6 million, or $2.23 per diluted share, compared to $96.6 million, or $1.98 per diluted share, in the third quarter of 2023. Net operating income was $110.4 million, or $2.25 per diluted share, compared to $98.4 million, or $2.02 per diluted share, for the third quarter of 2023. The company saw increases in fee income and loan growth, though net interest margin decreased slightly.
- GAAP net income reached $109.6 million, translating to $2.23 per diluted share.
- Net operating income amounted to $110.4 million, or $2.25 per diluted share.
- Average loans experienced a 9.8% increase on a linked-quarter, annualized basis, reaching $24.4 billion.
- Average deposits increased 11.1% on a linked-quarter, annualized basis, to $35.3 billion.
Headline financials
Revenue & EPS history
UMB Financial · Revenue · Quarterly
$406M
Revenue by segment
UMB Financial · $419M total across 3 segments · Q3 2023
- Commercial Banking$235M+41.1%56.2%
- Institutional Banking$130M-2.3%30.9%
- Personal Banking$54.2M-34.4%12.9%
Forward guidance
UMB Financial is on track to complete the acquisition of Heartland Financial in the first quarter of 2025, subject to regulatory and other approvals.
Tailwinds
- The acquisition will add further diversity and scale to UMB's financial model.
- Preparations for legal day one of the acquisition are well underway.
- Cross-functional workstreams are collaborating with personnel from Heartland Financial.
- The combination is financially and strategically compelling.
- UMB looks forward to serving prospective clients and geographies.
Headwinds
- The acquisition is subject to regulatory and other approvals.
- Completion of the acquisition is not guaranteed.
- Integration of Heartland Financial may present challenges.
- The company's effective tax rate was 19.0% for the nine months ended September 30, 2024.
- Unrealized pre-tax net loss on the available-for-sale securities portfolio was $449.4 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.2%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+2.6%
Avg return
30 days after
55%
38 / 69 earnings
Positive
+8.1%
Q4 2015
Best reaction
-9.6%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | +3.2% | +4.7% | |
| Q4 2025 | +0.0% | +2.6% | -7.2% | |
| Q3 2025 | -3.4% | -4.4% | -1.1% | |
| Q1 2025 | +3.4% | +5.8% | +9.0% | |
| Q4 2024 | +0.8% | -6.9% | -9.3% | |
| Q3 2024 | +3.8% | +1.1% | +17.7% | |
| Q2 2024 | +4.1% | -4.6% | +5.0% | |
| Q1 2024 | -4.2% | -0.7% | -5.1% | |
| Q4 2023 | -1.2% | -1.5% | -2.2% | |
| Q3 2023 | +2.0% | +1.7% | +17.2% | |
| Q2 2023 | +4.6% | +1.9% | -7.2% | |
| Q1 2023 | +6.2% | +9.8% | +2.4% | |
| Q4 2022 | +1.6% | +1.5% | +5.4% | |
| Q3 2022 | -9.6% | -9.2% | -5.4% | |
| Q2 2022 | -0.4% | -1.4% | +1.5% | |
| Q1 2022 | +0.3% | -3.8% | -2.6% | |
| Q4 2021 | -6.8% | -4.9% | -4.1% | |
| Q3 2021 | -6.7% | -4.7% | +3.6% | |
| Q2 2021 | +5.0% | +6.3% | +2.5% | |
| Q1 2021 | +1.2% | +1.8% | +1.4% | |
| Q4 2020 | -4.1% | -2.8% | +18.5% | |
| Q3 2020 | +0.0% | +4.1% | +21.9% | |
| Q2 2020 | +6.4% | +6.3% | +18.8% | |
| Q1 2020 | +8.1% | +2.2% | +9.0% | |
| Q4 2019 | +3.8% | +2.5% | -5.8% | |
| Q3 2019 | +1.0% | -1.3% | +1.6% | |
| Q2 2019 | +1.5% | -2.4% | -6.8% | |
| Q1 2019 | +3.8% | +6.4% | -0.9% | |
| Q4 2018 | -7.2% | -5.6% | +0.5% | |
| Q3 2018 | -5.3% | -4.9% | +1.6% | |
| Q2 2018 | -7.1% | -9.6% | -4.5% | |
| Q1 2018 | +1.4% | +1.4% | +2.9% | |
| Q4 2017 | +3.6% | +2.7% | +0.3% | |
| Q3 2017 | -1.7% | +0.4% | -2.7% | |
| Q2 2017 | -4.7% | -4.9% | -9.4% | |
| Q1 2017 | +0.1% | -5.7% | -7.3% | |
| Q4 2016 | +5.3% | +5.6% | +9.5% | |
| Q3 2016 | -1.2% | -2.3% | +21.9% | |
| Q2 2016 | +1.2% | -0.1% | +7.8% | |
| Q1 2016 | +3.9% | — | — | |
| Q4 2015 | +8.1% | — | — | |
| Q3 2015 | -1.9% | — | — | |
| Q2 2015 | +0.2% | — | — | |
| Q1 2015 | -3.0% | — | — | |
| Q4 2014 | -7.6% | — | — | |
| Q3 2014 | +4.1% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | -6.7% | — | — | |
| Q3 2013 | +2.1% | — | — | |
| Q2 2013 | +1.7% | — | — | |
| Q1 2013 | +5.5% | — | — | |
| Q4 2012 | -3.0% | — | — | |
| Q3 2012 | -3.5% | — | — | |
| Q2 2012 | +2.3% | — | — | |
| Q1 2012 | +1.4% | — | — | |
| Q4 2011 | -0.5% | — | — | |
| Q3 2011 | +1.3% | — | — | |
| Q2 2011 | -6.2% | — | — | |
| Q1 2011 | +0.9% | — | — | |
| Q4 2008 | +1.3% | — | — | |
| Q4 2009 | +1.3% | — | — | |
| Q4 2010 | +1.3% | — | — | |
| Q3 2010 | +5.4% | — | — | |
| Q3 2009 | +5.4% | — | — | |
| Q2 2010 | -1.6% | — | — | |
| Q2 2009 | -1.6% | — | — | |
| Q1 2010 | -1.9% | — | — | |
| Q1 2009 | -1.9% | — | — |
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