Northern Trust Co. (NASDAQ:NTRS) had its target price dropped by analysts at Bank of America Corporation from $106.00 to $97.00 in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the asset manager’s stock. Bank of America Corporation’s target price points to a potential upside of 10.86% from the company’s previous close.

NTRS has been the subject of several other research reports. Deutsche Bank AG reduced their target price on shares of Northern Trust from $94.00 to $93.00 and set a “hold” rating for the company in a research note on Thursday, April 6th. Credit Suisse Group reiterated a “hold” rating and issued a $90.00 target price on shares of Northern Trust in a research note on Sunday, May 28th. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 target price (up previously from $80.00) on shares of Northern Trust in a research note on Friday, July 7th. Zacks Investment Research lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $97.00 price target on shares of Northern Trust in a research report on Wednesday, May 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $93.08.

Shares of Northern Trust (NASDAQ NTRS) traded down 1.92% on Thursday, hitting $87.50. 4,028,543 shares of the stock were exchanged. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 19.95 and a beta of 0.94. Northern Trust has a 1-year low of $65.92 and a 1-year high of $99.30. The stock’s 50-day moving average is $94.30 and its 200-day moving average is $89.21.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.05. Northern Trust had a return on equity of 11.30% and a net margin of 19.18%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s revenue was up .5% compared to the same quarter last year. Analysts forecast that Northern Trust will post $4.82 earnings per share for the current year.

Northern Trust declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the asset manager to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/20/northern-trust-co-ntrs-pt-lowered-to-97-00-at-bank-of-america-corporation.html.

In other news, insider Clair Joyce St sold 17,406 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $90.46, for a total value of $1,574,546.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman William L. Morrison sold 25,000 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $87.28, for a total transaction of $2,182,000.00. The disclosure for this sale can be found here. Insiders have sold 458,002 shares of company stock valued at $41,937,824 in the last quarter. Company insiders own 1.27% of the company’s stock.

Large investors have recently made changes to their positions in the company. Trust Department MB Financial Bank N A increased its stake in shares of Northern Trust by 6.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,172 shares of the asset manager’s stock worth $101,000 after buying an additional 72 shares during the last quarter. Kings Point Capital Management purchased a new stake in shares of Northern Trust during the first quarter worth about $101,000. Advisory Services Network LLC purchased a new stake in shares of Northern Trust during the first quarter worth about $117,000. Jolley Asset Management LLC increased its stake in shares of Northern Trust by 25.9% in the first quarter. Jolley Asset Management LLC now owns 1,700 shares of the asset manager’s stock worth $147,000 after buying an additional 350 shares during the last quarter. Finally, Atria Investments LLC purchased a new stake in shares of Northern Trust during the second quarter worth about $200,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust 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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

Receive News & Ratings for Northern Trust Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust Co. and related companies with MarketBeat.com's FREE daily email newsletter.