Northern Trust (NASDAQ:NTRS) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Northern Trust (NASDAQ:NTRS) from a hold rating to a sell rating in a research note issued to investors on Wednesday, March 27th, BidAskClub reports.

Other analysts have also issued reports about the company. Zacks Investment Research lowered Northern Trust from a hold rating to a sell rating in a research report on Monday, January 14th. Raymond James lowered Northern Trust from a strong-buy rating to a market perform rating and set a $89.93 target price for the company. in a report on Thursday, January 24th. Credit Suisse Group reaffirmed a hold rating and issued a $101.00 target price on shares of Northern Trust in a report on Tuesday, February 19th. Morgan Stanley dropped their price objective on Northern Trust from $109.00 to $96.00 and set an underweight rating on the stock in a research note on Tuesday, January 8th. Finally, Royal Bank of Canada dropped their price objective on Northern Trust to $108.00 and set an outperform rating on the stock in a research note on Thursday, January 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $110.45.

NTRS traded down $0.55 during midday trading on Wednesday, hitting $91.87. 1,870,692 shares of the company were exchanged, compared to its average volume of 1,180,387. The company has a market capitalization of $20.07 billion, a PE ratio of 13.65, a PEG ratio of 1.21 and a beta of 1.06. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.35. Northern Trust has a 1-year low of $75.96 and a 1-year high of $115.61.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, January 23rd. The asset manager reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. Northern Trust had a return on equity of 16.62% and a net margin of 23.37%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned $1.51 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Northern Trust will post 6.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.40 annualized dividend and a dividend yield of 2.61%. This is a boost from Northern Trust’s previous quarterly dividend of $0.55. Northern Trust’s dividend payout ratio is presently 35.66%.

Institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. increased its holdings in shares of Northern Trust by 63.6% in the fourth quarter. First Mercantile Trust Co. now owns 360 shares of the asset manager’s stock worth $30,000 after purchasing an additional 140 shares during the period. Rehmann Capital Advisory Group increased its holdings in shares of Northern Trust by 161.3% in the third quarter. Rehmann Capital Advisory Group now owns 473 shares of the asset manager’s stock worth $48,000 after purchasing an additional 292 shares during the period. Synovus Financial Corp increased its stake in Northern Trust by 66.0% in the fourth quarter. Synovus Financial Corp now owns 503 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 200 shares during the last quarter. Exane Asset Management bought a new position in Northern Trust in the fourth quarter valued at $44,000. Finally, Shine Investment Advisory Services Inc. increased its stake in Northern Trust by 24.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 574 shares of the asset manager’s stock valued at $52,000 after acquiring an additional 113 shares during the last quarter. 78.95% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Company Profile

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.

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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