Northern Trust Receives Underweight Rating from JPMorgan Chase & Co. (NTRS)
Northern Trust (NASDAQ:NTRS)‘s stock had its “underweight” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Friday, Stock Ratings News reports. They currently have a $59.50 target price on the stock, down from their previous target price of $61.00. JPMorgan Chase & Co.’s target price indicates a potential downside of 2.65% from the stock’s previous close.
A number of other analysts have also recently weighed in on NTRS. Analysts at Evercore Partners upgraded shares of Northern Trust from an “underweight” rating to an “equal weight” rating in a research note on Friday. They now have a $64.00 price target on the stock, up previously from $60.00. Separately, analysts at Guggenheim cut their price target on shares of Northern Trust from $74.00 to $72.00 in a research note on Tuesday. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Northern Trust in a research note on Thursday, April 17th. They now have a $66.00 price target on the stock. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $63.82.
In other Northern Trust news, VP Jane Karpinski unloaded 2,500 shares of the stock on the open market in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $60.73, for a total transaction of $151,825.00. Following the completion of the transaction, the vice president now directly owns 6,155 shares in the company, valued at approximately $373,793. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Northern Trust (NASDAQ:NTRS) traded up 0.11% on Friday, hitting $61.11. 981,902 shares of the company’s stock traded hands. Northern Trust has a 52-week low of $52.40 and a 52-week high of $67.17. The stock has a 50-day moving average of $61.99 and a 200-day moving average of $60.49. The company has a market cap of $14.451 billion and a price-to-earnings ratio of 19.88.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 15th. The company reported $0.75 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.78 by $0.03. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted $0.71 earnings per share. Northern Trust’s revenue was up 6.5% compared to the same quarter last year. Analysts expect that Northern Trust will post $3.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.31.
Northern Trust Corporation is a financial holding company that is a provider of asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals worldwide.
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