Bank of America Downgrades Northern Trust (NTRS) to Neutral

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Bank of America lowered shares of Northern Trust (NASDAQ:NTRS) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. Bank of America currently has $84.89 price objective on the asset manager’s stock.

Several other analysts have also recently commented on NTRS. Wolfe Research cut shares of Northern Trust from a market perform rating to an underperform rating in a research note on Tuesday. Buckingham Research reduced their price target on shares of Northern Trust from $119.00 to $114.00 and set a neutral rating on the stock in a research report on Thursday, October 18th. Deutsche Bank reduced their price target on shares of Northern Trust from $116.00 to $115.00 and set a hold rating on the stock in a research report on Thursday, October 11th. Zacks Investment Research cut shares of Northern Trust from a hold rating to a sell rating in a report on Wednesday, December 19th. Finally, Raymond James reduced their target price on shares of Northern Trust from $122.00 to $115.00 and set a strong-buy rating on the stock in a report on Thursday, October 18th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $114.05.

NASDAQ NTRS traded up $0.76 during trading on Friday, reaching $85.65. 1,141,311 shares of the company’s stock traded hands, compared to its average volume of 1,031,089. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $18.84 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. Northern Trust has a 12-month low of $75.96 and a 12-month high of $115.61.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 17th. The asset manager reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.03). The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Northern Trust had a net margin of 23.28% and a return on equity of 15.75%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.20 EPS. Equities analysts expect that Northern Trust will post 6.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 1st. Investors of record on Friday, December 14th were issued a $0.55 dividend. The ex-dividend date was Thursday, December 13th. This represents a $2.20 annualized dividend and a yield of 2.57%. Northern Trust’s dividend payout ratio (DPR) is 45.55%.

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in Northern Trust by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 139,698 shares of the asset manager’s stock valued at $14,374,000 after buying an additional 29,598 shares during the last quarter. Laurion Capital Management LP purchased a new stake in shares of Northern Trust during the 2nd quarter worth about $238,000. AMP Capital Investors Ltd grew its holdings in shares of Northern Trust by 26.0% during the 2nd quarter. AMP Capital Investors Ltd now owns 80,534 shares of the asset manager’s stock worth $8,286,000 after purchasing an additional 16,597 shares during the period. Capital Fund Management S.A. grew its holdings in shares of Northern Trust by 26.4% during the 2nd quarter. Capital Fund Management S.A. now owns 12,000 shares of the asset manager’s stock worth $1,235,000 after purchasing an additional 2,505 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Northern Trust by 29.0% during the 2nd quarter. Morgan Stanley now owns 911,274 shares of the asset manager’s stock worth $93,762,000 after purchasing an additional 205,050 shares during the period. 79.11% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Trust

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

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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