Northern Trust Corporation (NTRS) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Northern Trust Corporation (NASDAQ:NTRS) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
NTRS has been the topic of a number of other reports. Deutsche Bank AG cut their price target on Northern Trust Corporation from $94.00 to $93.00 and set a hold rating on the stock in a research note on Thursday, April 6th. Credit Suisse Group reissued a hold rating and set a $90.00 price target on shares of Northern Trust Corporation in a research note on Sunday, May 28th. Morgan Stanley cut their price target on Northern Trust Corporation from $86.00 to $83.00 and set an underweight rating on the stock in a research note on Thursday, July 20th. Bank of America Corporation reissued a buy rating and set a $98.00 price target (up from $61.32) on shares of Northern Trust Corporation in a research note on Friday, May 26th. Finally, Zacks Investment Research lowered Northern Trust Corporation from a buy rating to a hold rating in a research note on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $94.50.
Northern Trust Corporation (NTRS) traded down 0.46% on Tuesday, reaching $87.26. 946,510 shares of the company’s stock were exchanged. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 19.83 and a beta of 0.94. Northern Trust Corporation has a 52 week low of $65.92 and a 52 week high of $99.30. The stock’s 50 day moving average is $94.11 and its 200 day moving average is $89.13.
Northern Trust Corporation (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.05. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Northern Trust Corporation will post $4.73 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be paid a $0.42 dividend. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, August 30th. Northern Trust Corporation’s payout ratio is currently 34.55%.
Northern Trust Corporation declared that its board has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Teresa Parker sold 11,399 shares of Northern Trust Corporation stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $87.65, for a total value of $999,122.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman William L. Morrison sold 25,000 shares of Northern Trust Corporation stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $87.28, for a total value of $2,182,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,359 shares of company stock worth $35,242,166. 1.27% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of NTRS. Dumont & Blake Investment Advisors LLC bought a new position in Northern Trust Corporation during the second quarter worth approximately $226,000. Ronald Blue & Co. LLC raised its position in Northern Trust Corporation by 3.1% in the second quarter. Ronald Blue & Co. LLC now owns 2,995 shares of the asset manager’s stock worth $291,000 after buying an additional 91 shares in the last quarter. Busey Trust CO raised its position in Northern Trust Corporation by 1.9% in the second quarter. Busey Trust CO now owns 13,334 shares of the asset manager’s stock worth $1,296,000 after buying an additional 250 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Northern Trust Corporation by 22.9% in the second quarter. Daiwa Securities Group Inc. now owns 53,352 shares of the asset manager’s stock worth $5,187,000 after buying an additional 9,943 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. raised its position in Northern Trust Corporation by 0.5% in the second quarter. Speece Thorson Capital Group Inc. now owns 198,741 shares of the asset manager’s stock worth $19,320,000 after buying an additional 946 shares in the last quarter. 82.90% of the stock is currently owned by institutional investors.
Northern Trust Corporation 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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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