Northern Trust Corp. (NTRS) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Northern Trust Corp. (NASDAQ:NTRS) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $78.00 price target on the stock.
According to Zacks, “Northern Trust has positive record of earnings surprises in recent quarters. The company’s estimates have been stable lately ahead of its third-quarter 2016 earnings release. The company’s services like Northern Trust Hedge Fund and Target2-Securities (T2S), along with its capability to initiate new business and improving credit quality, should bolster its business performance. Further, the company remains committed towards boosting investors’ confidence with impressive capital deployment activities. However, the company’s profitability is expected to be limited by several issues such as a persistently low rate environment along with volatile equity markets. Also, mounting expenses driven by heightened regulations remain a concern.”
Several other research firms also recently weighed in on NTRS. JPMorgan Chase & Co. reaffirmed a hold rating and issued a $72.50 price objective on shares of Northern Trust Corp. in a report on Thursday, June 9th. Deutsche Bank AG upped their price objective on shares of Northern Trust Corp. from $75.00 to $76.00 and gave the stock a hold rating in a report on Friday, September 9th. Credit Agricole SA upped their price objective on shares of Northern Trust Corp. from $70.00 to $73.00 and gave the stock an underperform rating in a report on Friday, September 23rd. Jefferies Group reaffirmed a hold rating and issued a $71.00 price objective (up previously from $68.00) on shares of Northern Trust Corp. in a report on Sunday, July 24th. Finally, Credit Suisse Group AG set a $68.00 price objective on shares of Northern Trust Corp. and gave the stock a hold rating in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $71.81.
Northern Trust Corp. (NASDAQ:NTRS) traded up 0.01% during midday trading on Wednesday, hitting $71.91. 590,170 shares of the company’s stock traded hands. The company has a market capitalization of $16.29 billion, a PE ratio of 17.76 and a beta of 1.13. Northern Trust Corp. has a 52 week low of $54.38 and a 52 week high of $76.11. The company has a 50 day moving average of $69.05 and a 200-day moving average of $68.62.
Northern Trust Corp. (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. Northern Trust Corp. had a net margin of 19.38% and a return on equity of 11.38%. The company earned $1.32 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts predict that Northern Trust Corp. will post $4.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 2nd were paid a $0.38 dividend. This is a boost from Northern Trust Corp.’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend 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 presently 37.53%.
In related news, insider Clair Joyce St sold 48,110 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $67.02, for a total value of $3,224,332.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Biff Bowman sold 2,960 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were 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. 1.90% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Financial Architects Inc boosted its stake 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 during the last quarter. Global X Management Co. LLC boosted its stake 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 during the last quarter. Creative Planning boosted its stake 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 during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Northern Trust Corp. during the second quarter valued at approximately $119,000. Finally, Mizuho Asset Management Co. Ltd. boosted its stake 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 during the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.
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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