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 research report report published on Tuesday morning. Zacks Investment Research currently has $90.00 price objective on the stock.
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.”
Several other brokerages also recently weighed in on NTRS. Credit Suisse Group AG began coverage on Northern Trust Corp. in a research note on Tuesday, November 22nd. They set a neutral rating and a $71.00 target price for the company. Jefferies Group reiterated a hold rating and set a $77.00 price target on shares of Northern Trust Corp. in a research report on Monday, October 10th. Deutsche Bank AG boosted their price target on Northern Trust Corp. from $75.00 to $76.00 and gave the stock a hold rating in a research report on Friday, September 9th. Finally, boosted their price target on Northern Trust Corp. from $70.00 to $73.00 and gave the stock an underperform rating in a research report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $73.42.
Shares of Northern Trust Corp. (NASDAQ:NTRS) opened at 81.14 on Tuesday. The company has a market capitalization of $18.37 billion, a P/E ratio of 19.33 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 52-week low of $54.38 and a 52-week high of $83.09.
Northern Trust Corp. (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 19th. The company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.25 billion. Northern Trust Corp. had a return on equity of 11.55% and a net margin of 19.58%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. On average, equities research analysts forecast that Northern Trust Corp. will post $4.28 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 2nd will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Wednesday, November 30th. Northern Trust Corp.’s dividend payout ratio is currently 36.45%.
In other Northern Trust Corp. news, insider Wilson Leech sold 21,541 shares of the stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $77.01, for a total value of $1,658,872.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven L. Fradkin sold 323,192 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $80.98, for a total value of $26,172,088.16. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Northern Trust Corp. by 1.5% in the second quarter. Vanguard Group Inc. now owns 12,804,278 shares of the company’s stock valued at $848,412,000 after buying an additional 187,195 shares during the period. FMR LLC raised its stake in shares of Northern Trust Corp. by 13.8% in the second quarter. FMR LLC now owns 8,583,519 shares of the company’s stock valued at $568,744,000 after buying an additional 1,041,052 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Northern Trust Corp. by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 8,427,802 shares of the company’s stock valued at $573,006,000 after buying an additional 688,812 shares during the period. American Century Companies Inc. raised its stake in shares of Northern Trust Corp. by 6.4% in the second quarter. American Century Companies Inc. now owns 7,702,813 shares of the company’s stock valued at $510,388,000 after buying an additional 462,106 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Northern Trust Corp. by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,489,309 shares of the company’s stock valued at $373,218,000 after buying an additional 68,344 shares during the period. 79.70% of the stock is currently owned by institutional investors.
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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