UMB: 2Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ UMB Financial Corp. (UMBF) on Tuesday reported second-quarter earnings of $55.4 million.
The Kansas City, Missouri-based bank said it had earnings of $1.11 per share. Earnings, adjusted for one-time gains and costs, came to $1.12 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The bank holding company posted revenue of $276.8 million in the period. Its revenue net of interest expense was $250.5 million, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $264.2 million.
UMB shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $79.77, an increase of slightly more than 8 percent in the last 12 months.