Street Calls of the Week
KANSAS CITY, Mo. - UMB Financial Corporation (NASDAQ:UMBF), a $7.87 billion market cap financial institution with a remarkable 32-year streak of dividend increases, has initiated a public offering of depositary shares, each representing a fractional interest in its Series B Preferred Stock. The shares are set to trade on The Nasdaq Global Select Market.
The financial institution aims to raise funds for general corporate purposes, which may include redeeming its Series A Preferred Stock and repurchasing or retiring a portion of its subordinated notes due in 2030.
RBC Capital Markets, LLC and J.P. Morgan Securities LLC are managing the offering, with Piper Sandler & Co. and Wells Fargo Securities, LLC serving as co-managers.
The offering is based on a previously filed registration statement with the Securities and Exchange Commission (SEC). Interested parties can obtain the final prospectus supplement and accompanying prospectus from the SEC’s website or directly from the managing and co-managing firms once available.
UMB Financial specializes in a range of financial services, including commercial and personal banking, asset servicing, and investment banking, with branches across multiple U.S. states.
This press release is a statement of intent and does not constitute the final terms of the offering or an invitation to purchase securities. The sale of these securities will be conducted in compliance with applicable laws.
The information in this article is based on a press release statement.
In other recent news, UMB Financial Corporation reported its first-quarter earnings for 2025, surpassing expectations with an earnings per share (EPS) of $2.58 compared to the anticipated $2.26. The company also exceeded revenue forecasts, reporting $563.84 million against the expected $547.66 million. Despite the positive earnings surprise, the stock experienced a decline in after-hours trading. Meanwhile, UMB Financial has expanded its Corporate Trust and Agency Services by opening a new office in Costa Mesa, California, welcoming thirteen professionals from Wilmington Trust to strengthen its services in the region.
Raymond James maintained its Strong Buy rating for UMB Financial, with a price target of $135, following investor meetings that highlighted the successful integration of Heartland into UMB’s operations. In contrast, Citi analysts adjusted their outlook, reducing the price target to $109 due to concerns over UMB’s credit profile and the recent rise in Commercial & Industrial Net Charge-Offs. During UMB Financial’s recent shareholder meeting, sixteen directors were elected, and the advisory vote on executive compensation was approved, reflecting strong support for the company’s board and management decisions. These developments underscore UMB Financial’s ongoing strategic initiatives and operational adjustments.
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