Northern Trust’s Neutral Rating Reiterated at Zacks (NTRS)
Northern Trust (NASDAQ:NTRS)‘s stock had its “neutral” rating restated by Zacks in a report released on Thursday. They currently have a $73.00 target price on the stock. Zacks‘s target price indicates a potential upside of 5.20% from the company’s current price.
Zacks’ analyst wrote, “After missing earnings estimates in the last few quarters, Northern Trust’s second-quarter 2014 earnings outpaced the Zacks Consensus Estimate and were above the year-ago quarter figure. Quarterly results benefited from top-line growth and the absence of provisions. Strong capital ratios and anticipated increase in asset management and servicing fees based on a significant equity markets improvement and higher volumes is expected to support earnings in the coming quarters. However, higher expenses and the thrust of banking regulations might act as deterrents to the company’s fundamentals going forward.”
NTRS has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. upgraded shares of Northern Trust from an “underweight” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $67.00 price target on the stock, up previously from $59.50. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Northern Trust in a research note on Thursday, July 17th. They now have a $68.00 price target on the stock, up previously from $66.00. Finally, analysts at Jefferies Group raised their price target on shares of Northern Trust from $64.00 to $65.00 in a research note on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $66.00.
In other Northern Trust news, EVP Jeffrey D. Cohodes sold 3,470 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $69.60, for a total transaction of $241,512.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Northern Trust (NASDAQ:NTRS) traded up 0.28% during mid-day trading on Thursday, hitting $69.59. The stock had a trading volume of 344,239 shares. Northern Trust has a 52-week low of $52.40 and a 52-week high of $69.87. The stock has a 50-day moving average of $67.01 and a 200-day moving average of $63.52. The company has a market cap of $16.394 billion and a P/E ratio of 22.83.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $0.87 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company posted $0.78 earnings per share. Northern Trust’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that Northern Trust will post $3.36 EPS for the current fiscal year.
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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