Piper Sandler Research Analysts Reduce Earnings Estimates for Northern Trust Co. (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRSGet Rating) – Analysts at Piper Sandler lowered their Q2 2022 EPS estimates for Northern Trust in a note issued to investors on Tuesday, April 12th. Piper Sandler analyst J. Harte now anticipates that the asset manager will post earnings per share of $1.90 for the quarter, down from their prior estimate of $1.94. Piper Sandler also issued estimates for Northern Trust’s Q3 2022 earnings at $2.02 EPS, Q4 2022 earnings at $2.10 EPS, FY2022 earnings at $7.66 EPS, Q2 2023 earnings at $2.30 EPS, Q3 2023 earnings at $2.30 EPS, Q4 2023 earnings at $2.36 EPS and FY2023 earnings at $9.02 EPS.

Several other analysts have also recently weighed in on the company. Citigroup lowered their price target on Northern Trust from $140.00 to $130.00 in a report on Tuesday, January 25th. StockNews.com started coverage on Northern Trust in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on Northern Trust from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, February 18th. Keefe, Bruyette & Woods raised Northern Trust from a “market perform” rating to an “outperform” rating and raised their price target for the company from $130.00 to $152.00 in a report on Monday, January 10th. Finally, The Goldman Sachs Group raised Northern Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $128.00 to $141.00 in a report on Wednesday, March 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $130.00.

Shares of NASDAQ NTRS opened at $110.89 on Thursday. Northern Trust has a 52 week low of $102.39 and a 52 week high of $135.15. The business has a 50-day simple moving average of $115.44 and a two-hundred day simple moving average of $118.73. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.33. The company has a market cap of $23.06 billion, a P/E ratio of 15.55 and a beta of 1.12.

Northern Trust (NASDAQ:NTRSGet Rating) last issued its earnings results on Thursday, January 20th. The asset manager reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. Northern Trust had a return on equity of 14.16% and a net margin of 23.82%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $1.49 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year.

Several hedge funds have recently modified their holdings of NTRS. Harfst & Associates Inc. boosted its position in shares of Northern Trust by 0.7% during the third quarter. Harfst & Associates Inc. now owns 12,611 shares of the asset manager’s stock valued at $1,359,000 after purchasing an additional 90 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Northern Trust by 1.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,379 shares of the asset manager’s stock valued at $643,000 after purchasing an additional 91 shares in the last quarter. Veritable L.P. boosted its position in shares of Northern Trust by 0.7% during the third quarter. Veritable L.P. now owns 13,502 shares of the asset manager’s stock valued at $1,456,000 after purchasing an additional 92 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Northern Trust by 2.0% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 5,109 shares of the asset manager’s stock valued at $551,000 after purchasing an additional 99 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its position in shares of Northern Trust by 0.8% during the fourth quarter. Kentucky Retirement Systems now owns 12,592 shares of the asset manager’s stock valued at $1,506,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 80.02% of the company’s stock.

In other news, EVP Lauren E. Allnutt sold 393 shares of Northern Trust stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $105.61, for a total value of $41,504.73. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jason J. Tyler sold 1,936 shares of Northern Trust stock in a transaction that occurred on Monday, January 31st. The stock was sold at an average price of $115.60, for a total value of $223,801.60. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 11th were paid a $0.70 dividend. The ex-dividend date was Thursday, March 10th. This represents a $2.80 dividend on an annualized basis and a yield of 2.53%. Northern Trust’s dividend payout ratio (DPR) is currently 39.27%.

About Northern Trust (Get Rating)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.

See Also

Earnings History and Estimates for Northern Trust (NASDAQ:NTRS)

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