Morgan Stanley restated their underweight rating on shares of Northern Trust Corp. (NASDAQ:NTRS) in a research note issued to investors on Thursday morning, AnalystRatings.NET reports. The firm currently has a $66.00 price target on the stock, up from their previous price target of $63.00.
“NIM was down 2bp q/q to 1.12% on a shift in mix into Fed reserves due accelerating deposit growth,” the report noted. “Total EOP interest bearing deposits increased 7.5% q/q, a $5B influx, which was largely invested in Fed deposits yielding 25bp. We expect half of these deposits are sticky and model a positive mix shift to higher yielding securities from Fed reserves. We model NIM increasing from 1.13% in 2013 to 1.15% in 2014 and 1.18% in 2015.,” the firm’s analyst commented.
NTRS has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Northern Trust Corp. from $54.00 to $64.00 in a research note to investors on Thursday. They now have a sector perform rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Northern Trust Corp. to $66.00 in a research note to investors on Tuesday, January 14th. Finally, analysts at Portales Partners initiated coverage on shares of Northern Trust Corp. in a research note to investors on Friday, January 10th. They set an underperform rating on the stock. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $62.42.
In other Northern Trust Corp. news, EVP Jeffrey Cohodes sold 10,000 shares of the stock on the open market in a transaction dated Thursday, January 16th. The stock was sold at an average price of $61.04, for a total transaction of $610,400.00. Following the transaction, the executive vice president now directly owns 22,193 shares of the company’s stock, valued at approximately $1,354,661. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded down 2.00% on Thursday, hitting $61.35. The stock had a trading volume of 1,144,067 shares. Northern Trust Corp. has a 52-week low of $50.57 and a 52-week high of $63.00. The stock has a 50-day moving average of $60.12 and a 200-day moving average of $57.68. The company has a market cap of $14.662 billion and a price-to-earnings ratio of 21.01.
Northern Trust Corp. (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.25. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that Northern Trust Corp. will post $3.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of 0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, March 5th.
Northern Trust Corporation (NASDAQ:NTRS) is a financial holding company that is a provider of asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals worldwide.
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