Northern Trust Sees Higher Profits; Misses Estimates (NTRS)
Financial holding company, Northern Trust Corporation(NTRS) reported increased profit in the fourth quarter, but missed analysts estimates on Wednesday.
The Chicago, IL based company reported fourth quarter earnings of $165.2 million, or 69 cents per share, up 22% from $128.6 million, or 53 cents per share last year. Analysts expected to see earnings of 75 cents per share.
Revenue was reported at $969.7 million, up 1% from $955.6 million last year. Analysts expected revenue of $985.1 million.
Northern Trust shares were down -$1.03, or -1.95% during premarket trading Wednesday. The stock has increased 25% in the past year.
The Bottom Line
Shares of Northern Trust (NTRS) have a 2.27% dividend yield, based on last night’s closing stock price of $52.81. The stock has technical support in the $48 price area. If the shares can firm up, we see overhead resistance around the $54-$56 price levels.
Northern Trust Corporation(NTRS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.