Northern Trust Corp. (NASDAQ:NTRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $90.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 9.56% from the stock’s previous close.
According to Zacks, “Northern Trust shares have marginally underperformed the Zacks categorized Major Regional Banks industry so far this year. Though potential unfavorable changes in global market conditions, stringent regulations and persistently low rate environment remain headwinds, the company continues to benefit from its strong wealth management operations with diversified products and services. Further, its efforts to support new investment activities through expense management are commendable. Moreover, the company remains committed towards enhancing shareholders’ value through steady capital deployment activities.”
Other analysts have also issued research reports about the company. Deutsche Bank AG upped their target price on Northern Trust Corp. from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, September 9th. Jefferies Group reiterated a “hold” rating and set a $77.00 target price on shares of Northern Trust Corp. in a report on Monday, October 10th. Credit Suisse Group AG initiated coverage on Northern Trust Corp. in a report on Tuesday, November 22nd. They set a “neutral” rating and a $71.00 target price on the stock. Finally, upped 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $73.42.
Shares of Northern Trust Corp. (NASDAQ:NTRS) opened at 82.15 on Tuesday. The firm has a market cap of $18.60 billion, a price-to-earnings ratio of 19.57 and a beta of 1.02. The stock’s 50 day moving average price is $75.14 and its 200 day moving average price is $70.47. Northern Trust Corp. has a one year low of $54.38 and a one year high of $83.09.
Northern Trust Corp. (NASDAQ:NTRS) last released its earnings results on Wednesday, October 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by $0.01. Northern Trust Corp. had a return on equity of 11.55% and a net margin of 19.58%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Northern Trust Corp. will post $4.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, November 30th. Northern Trust Corp.’s dividend payout ratio is currently 36.45%.
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In related news, EVP Peter Cherecwich sold 10,211 shares of the stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $81.12, for a total transaction of $828,316.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Biff Bowman sold 2,960 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $70.00, for a total value of $207,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Large investors have recently modified their holdings of the company. Alpha Windward LLC increased its stake in shares of Northern Trust Corp. by 1.1% in the third quarter. Alpha Windward LLC now owns 2,208 shares of the company’s stock worth $150,000 after buying an additional 25 shares in the last quarter. Conning Inc. increased its stake in shares of Northern Trust Corp. by 0.6% in the third quarter. Conning Inc. now owns 6,353 shares of the company’s stock worth $432,000 after buying an additional 40 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in shares of Northern Trust Corp. by 0.4% in the third quarter. Gateway Investment Advisers LLC now owns 15,332 shares of the company’s stock worth $1,042,000 after buying an additional 67 shares in the last quarter. RBF Capital LLC increased its stake in shares of Northern Trust Corp. by 1.0% in the third quarter. RBF Capital LLC now owns 10,000 shares of the company’s stock worth $680,000 after buying an additional 100 shares in the last quarter. Finally, Commonwealth Equity Services Inc increased its stake in shares of Northern Trust Corp. by 0.8% in the third quarter. Commonwealth Equity Services Inc now owns 12,626 shares of the company’s stock worth $858,000 after buying an additional 106 shares in the last quarter. 79.70% of the stock is currently owned by institutional investors and hedge funds.
About Northern Trust Corp.
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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