Sterne Agee Maintains Buy, $43 PT on UMB Financial

Sterne Agee reiterates its Buy rating and price target of $43 on UMB Financial Corp.

as positive October net flows for Scout and a continuing focus on operating leverage and revenue growth. According to Sterne Agee, “Scout Mid Cap Fund's (

) total return was ranked the #1 Mid-Cap Core fund by Lipper and the #1 Mid-Blend by Morningstar after marking its fifth anniversary on October 31st. Coupled with strong one- and three-year performance, UMBF has gathered in >$1.1B of AUM, primarily through UMBMX (~$788 million), which posted AUM growth of ~227% in YTD11 compared to $276 million at 2010-end. … Net flows for Scout were 10% annualized in October versus 3% in September, 10% in 3Q11, and 14% YTD11.” UMBF closed at $36.77 on Friday, up 2.31 percent.