Northern Trust (NTRS) Downgraded to “Neutral” at Bank of America

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Northern Trust (NASDAQ:NTRS) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.

Other equities research analysts have also issued reports about the company. Morgan Stanley cut their price objective on Northern Trust from $109.00 to $96.00 and set an “underweight” rating for the company in a research note on Tuesday. Zacks Investment Research lowered Northern Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. BidaskClub lowered Northern Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, December 11th. Credit Suisse Group cut their price objective on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, December 7th. Finally, Jefferies Financial Group lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Northern Trust currently has an average rating of “Hold” and a consensus price target of $115.88.

NASDAQ NTRS opened at $84.89 on Friday. The stock has a market capitalization of $18.84 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. 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.

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

Several hedge funds have recently bought and sold shares of the company. Rehmann Capital Advisory Group lifted its holdings 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 acquiring an additional 292 shares during the last quarter. BlueMountain Capital Management LLC lifted its holdings in Northern Trust by 438.2% in 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. TLP Group LLC lifted its holdings in Northern Trust by 282.8% in 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. Sageworth Trust Co lifted its holdings in Northern Trust by 296.3% in 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. Finally, Trust Department MB Financial Bank N A lifted its holdings in Northern Trust by 20.9% in 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. Institutional investors and hedge funds own 79.11% of the company’s stock.

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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