Northern Trust (NTRS) Stock Rating Lowered by Bank of America

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

Several other analysts have also issued reports on NTRS. Morgan Stanley reduced their target price on shares of Northern Trust from $109.00 to $96.00 and set an underweight rating for the company in a research note on Tuesday, January 8th. Zacks Investment Research downgraded shares of Northern Trust from a hold rating to a sell rating in a report on Monday, December 31st. BidaskClub downgraded shares of Northern Trust from a hold rating to a sell rating in a report on Tuesday, December 11th. Credit Suisse Group dropped their price objective on shares of Northern Trust from $110.00 to $105.00 and set a neutral rating on the stock in a report on Friday, December 7th. Finally, Jefferies Financial Group downgraded shares of Northern Trust from a buy rating to a hold rating in a report on Tuesday, January 8th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $114.05.

Shares of Northern Trust stock opened at $85.65 on Friday. Northern Trust has a twelve month low of $75.96 and a twelve month high of $115.61. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.36. The stock 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 (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 17th. The asset manager reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.03). Northern Trust had a return on equity of 15.75% and a net margin of 23.28%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm earned $1.20 EPS. Northern Trust’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Northern Trust will post 6.55 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rehmann Capital Advisory Group raised its stake in Northern Trust by 161.3% in the third quarter. Rehmann Capital Advisory Group now owns 473 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 292 shares in the last quarter. BlueMountain Capital Management LLC grew its position in Northern Trust by 438.2% during the third quarter. BlueMountain Capital Management LLC now owns 1,071 shares of the asset manager’s stock valued at $109,000 after acquiring an additional 872 shares during the last quarter. Trust Department MB Financial Bank N A grew its position in Northern Trust by 20.9% during the fourth quarter. Trust Department MB Financial Bank N A now owns 1,417 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 245 shares during the last quarter. TLP Group LLC grew its position in Northern Trust by 282.8% during the third quarter. TLP Group LLC now owns 1,382 shares of the asset manager’s stock valued at $141,000 after acquiring an additional 1,021 shares during the last quarter. Finally, Sageworth Trust Co grew its position in Northern Trust by 296.3% during the third quarter. Sageworth Trust Co now owns 1,407 shares of the asset manager’s stock valued at $144,000 after acquiring an additional 1,052 shares during the last quarter. 79.11% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Company Profile

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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