Northern Trust Rating Increased to Hold at Zacks (NTRS)

Northern Trust (NASDAQ:NTRS) was upgraded by Zacks from a “sell” rating to a “hold” rating in a report released on Thursday, MarketBeat reports.

According to Zacks, “Northern Trust’s third-quarter 2015 earnings miss the Zacks Consensus Estimate. Results were impacted by higher expenses. However, strong top line and improvement in credit quality was recorded. Moreover, the company remains committed to enhance shareholders’ value through dividends and share repurchases. Though the thrust of banking regulations might act as deterrents to the company’s fundamentals going forward, strong capital ratios and anticipated increase in asset management and servicing fees based on a significant equity markets improvement and higher volumes are expected to support earnings in the coming quarters.”

Shares of Northern Trust (NASDAQ:NTRS) traded down 0.39% during trading on Thursday, hitting $68.90. 852,192 shares of the company were exchanged. The firm has a market capitalization of $15.93 billion and a PE ratio of 17.31. Northern Trust has a 12 month low of $61.10 and a 12 month high of $79.25. The firm’s 50-day moving average price is $68.68 and its 200 day moving average price is $73.40.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 21st. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $0.84 earnings per share. Northern Trust’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Northern Trust will post $3.83 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 4th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, December 2nd.

In other Northern Trust news, CEO Frederick H. Waddell sold 21,305 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $70.44, for a total value of $1,500,724.20. Following the completion of the transaction, the chief executive officer now owns 197,434 shares in the company, valued at $13,907,250.96. The transaction was disclosed in a document filed with the Securities Exchange Commission, which is available at this hyperlink.

Several other equities analysts have also weighed in on the stock. Citigroup Inc. lifted their price target on shares of Northern Trust from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Barclays lifted their target price on shares of Northern Trust from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Standpoint Research reiterated a “hold” rating and set a $83.00 price target on shares of Northern Trust in a report on Sunday, August 9th. Jefferies Group restated a “hold” rating and issued a $71.00 price objective on shares of Northern Trust in a report on Wednesday, October 7th. Finally, Deutsche Bank cut their price target on shares of Northern Trust from $83.00 to $75.00 and set a “hold” rating on the stock in a research note on Wednesday, September 9th. Twelve analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Northern Trust presently has a consensus rating of “Hold” and an average price target of $76.36.

Northern Trust Corporation is a financial holding company. The Company provides asset management, fund administration, asset servicing, fiduciary and banking solutions for people, associations, families and corporations all over the world. The Company’s operating segments include Corporate Institutional Services (NASDAQ:NTRS), Wealth Management and Treasury and Other. The Business has a network of offices in 19 states in the U.S., Washington, D.C. and 20 international places in Canada, Europe, the Middle East and the Asia-Pacific region. Asset Management, through the Company’s various subsidiaries, supports the CIS and Wealth Management segments by giving relevant services along with other merchandises to customers around the world and a variety of asset management. The Company’s subsidiary is The Northern Trust Company.

To get a free copy of the research report on Northern Trust (NTRS), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com

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Tuesday, October 27th, 2015 EN

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