Northern Trust Corporation (NASDAQ:NTRS) Raises Dividend to $0.88 Per Share

Northern Trust Corporation (NASDAQ:NTRS) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Friday, September 4th will be paid a dividend of 0.88 per share by the asset manager on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 4th. This is a 10.0% increase from Northern Trust’s previous quarterly dividend of $0.80.

Northern Trust has raised its dividend payment by an average of 0.0%per year over the last three years. Northern Trust has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Northern Trust to earn $12.22 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 26.2%.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $185.06 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The business’s 50-day simple moving average is $173.88 and its 200 day simple moving average is $157.15. The company has a market cap of $34.24 billion, a P/E ratio of 19.38, a PEG ratio of 1.17 and a beta of 1.25. Northern Trust has a one year low of $118.99 and a one year high of $191.60.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 EPS. On average, sell-side analysts forecast that Northern Trust will post 11.29 earnings per share for the current fiscal year.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.