Northern Trust Corp. (NTRS) Expected to Earn Q3 2016 Earnings of $1.08 Per Share
Northern Trust Corp. (NASDAQ:NTRS) – Investment analysts at Jefferies Group raised their Q3 2016 EPS estimates for Northern Trust Corp. in a report issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the firm will post earnings per share of $1.08 for the quarter, up from their prior estimate of $1.05. Jefferies Group currently has a “Hold” rating and a $77.00 target price on the stock. Jefferies Group also issued estimates for Northern Trust Corp.’s Q4 2016 earnings at $1.13 EPS, FY2016 earnings at $4.26 EPS, Q1 2017 earnings at $1.07 EPS, Q2 2017 earnings at $1.17 EPS, Q3 2017 earnings at $1.10 EPS, Q4 2017 earnings at $1.22 EPS, FY2017 earnings at $4.55 EPS and FY2018 earnings at $4.95 EPS.
Several other research firms have also recently issued reports on NTRS. Deutsche Bank AG raised their price target on Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a report on Friday, September 9th. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, October 5th. Credit Agricole SA raised their target price on Northern Trust Corp. from $70.00 to $73.00 and gave the stock an “underperform” rating in a report on Friday, September 23rd. Credit Suisse Group AG set a $68.00 target price on Northern Trust Corp. and gave the stock a “hold” rating in a report on Wednesday, July 20th. Finally, Barclays PLC restated a “hold” rating on shares of Northern Trust Corp. in a report on Saturday, July 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Northern Trust Corp. has a consensus rating of “Hold” and an average price target of $72.27.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded down 1.47% during midday trading on Tuesday, reaching $71.01. 322,034 shares of the company’s stock were exchanged. Northern Trust Corp. has a 1-year low of $54.38 and a 1-year high of $76.11. The company has a market capitalization of $16.09 billion, a PE ratio of 17.54 and a beta of 1.13. The firm has a 50-day moving average of $69.36 and a 200-day moving average of $68.77.
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Northern Trust Corp. (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business earned $1.32 billion during the quarter, compared to the consensus estimate of $1.22 billion. Northern Trust Corp. had a net margin of 19.38% and a return on equity of 11.38%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd were given a dividend of $0.38 per share. This is a positive change from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, August 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.11%. Northern Trust Corp.’s payout ratio is 37.53%.
In other news, CFO Biff Bowman sold 2,960 shares of Northern Trust Corp. stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $70.00, for a total transaction of $207,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Frederick H. Waddell sold 160,367 shares of Northern Trust Corp. stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $69.81, for a total value of $11,195,220.27. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Financial Architects Inc increased its position in shares of Northern Trust Corp. by 5,936.0% in the second quarter. Financial Architects Inc now owns 1,509 shares of the company’s stock valued at $100,000 after buying an additional 1,484 shares in the last quarter. Global X Management Co. LLC increased its position in shares of Northern Trust Corp. by 30.8% in the second quarter. Global X Management Co. LLC now owns 1,545 shares of the company’s stock valued at $102,000 after buying an additional 364 shares in the last quarter. Creative Planning increased its position in shares of Northern Trust Corp. by 61.9% in the second quarter. Creative Planning now owns 1,755 shares of the company’s stock valued at $116,000 after buying an additional 671 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Northern Trust Corp. during the second quarter valued at approximately $119,000. Finally, Mizuho Asset Management Co. Ltd. increased its position in shares of Northern Trust Corp. by 96.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,766 shares of the company’s stock valued at $183,000 after buying an additional 1,359 shares in the last quarter. Institutional investors own 81.71% of the company’s stock.
Northern Trust Corp. Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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