UMB Bank (UMBF) Misses Q2 EPS by 3c

UMB Bank (NASDAQ: UMBF) reported Q2 EPS of $0.90, $0.03 worse than the analyst estimate of $0.93. Revenue for the quarter came in at $247.7 million versus the consensus estimate of $264.3 million.

“Overall, I’m pleased with our results for the first half of the year, as we continue to focus on improved operating leverage across the company,” said Mariner Kemper, chairman and chief executive officer. Net interest margin improved three basis points on a linked quarter basis, driven primarily by the favorable change in our earning asset mix, combined with higher interest rates and increased loan volumes. We are pleased with this progress, as loan growth continued to be strong for the second quarter, up 9.4 percent year-over-year. In addition, noninterest income for the quarter improved 7.3 percent, reflecting, in part, solid contributions from our wealth management and asset servicing businesses.”

For earnings history and earnings-related data on UMB Bank (UMBF) click here.

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