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NTRS

Northern Trust

$70.95

0.68 (0.97%)

07:32
10/19/16
10/19
07:32
10/19/16
07:32

Northern Trust reports Q3 EPS $1.08, consensus $1.09

Reports Q3 total revenue FTE $1.22B, consensus $1.25B. Return on average common equity was 11.7%. Northern Trust performed well in the third quarter of 2016, producing 1.3 points of positive operating leverage and driving our expense-to-fee ratio lower to 107%. Total revenue grew 5% versus one year ago, with strong growth in net interest income and steady growth in trust, investment and other servicing fees, partially offset by lower foreign exchange trading income. Expenses were well managed, growing 4% versus one year ago. Earnings per share of $1.08 increased a strong 13% compared to one year ago, and we increased our quarterly cash dividend by 6% to $0.38 per common share," said Frederick H. Waddell, Chairman and CEO. Assets under custody/administration and assets under management are the primary drivers of the Corporation's trust, investment and other servicing fees, the largest component of noninterest income. Assets under custody/administration totaled $8.50 trillion at September 30, 2016, up $379.9 billion, or 5%, from $8.12 trillion at June 30, 2016.

  • 19

    Oct

NTRS Northern Trust
$70.95

0.68 (0.97%)

07/07/16
GSCO
07/07/16
DOWNGRADE
Target $71
GSCO
Neutral
Northern Trust downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Alexander Blostein downgraded Northern Trust to Neutral saying equity market weakness and renewed rate pressures are likely to stall the company's earnings momentum. The analyst views the risk/reward as more balanced at current levels. He cut his price target for the shares to $71 from $82.
06/28/16
06/28/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on the today's top five analyst upgrades with this list compiled by The Fly: 1. Dick's Sporting Goods (DKS) upgraded to Conviction Buy from Buy at Goldman by analyst Stephen Tanal, who said closure of the Sports Authority stores shortly after the July 15 sale hearing should boost investor confidence in the shares. Dick's is best positioned to benefit from store closures. He noted that his $53 price target represents 28% upside from current levels. 2. SolarCity (SCTY) upgraded to Outperform from Market Perform at Avondale, which added it to the Conviction List in anticipation of a successful resolution to Tesla's (TSLA) acquisition bid for the company. 3. Olin Corp. (OLN) upgraded to Outperform from Market Perform at Cowen by analyst Charles Neivert, who increased his price target to $31 from $18. The analyst raised 2017 EBITDA estimates above consensus to reflect reduced Dow transaction integration risks and synergies that may be more valuable than assumed. Neivert believes operational synergies for Olin could be over $300M, versus $250M guidance, reducing earnings' reliance on caustic soda price increases. 4. Northern Trust (NTRS) upgraded to Neutral from Sell at Citi by analyst Keith Horowitz, citing valuation following the recent underperformance of bank stocks. The analyst keeps a $66 price target for the shares. 5. British American Tobacco (BTI) upgraded to Conviction Buy from Sell at Goldman by analyst Fulvio Cazzol, citing increased confidence in the company's growth outlook amid the pound weakness and higher growth from e-cigarettes. The analyst raised his price target for the shares to 5185p from 3620p. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/28/16
SBSH
06/28/16
UPGRADE
Target $66
SBSH
Neutral
Northern Trust upgraded to Neutral from Sell at Citi
Citi analyst Keith Horowitz upgraded Northern Trust to Neutral citing valuation following the recent underperformance of bank stocks. The analyst keeps a $66 price target for the shares.
06/27/16
RBCM
06/27/16
NO CHANGE
RBCM
Some banks have reached attractive entry points, says RBC Capital
RBC Capital believes that banks may be hurt by the Fed's decision to delay raising interest rates in the wake of Brexit, and the firm admits that ucertainty regarding the EU membership of other countries could hurt U.S. banks going forward. However, the firm adds that "a silver lining" could be a boost to banks' fixed income businesses. Additionally, the firm thinks that the 10% decline in the shares of some banks "seems to be a bit premature," with the valuation of a number of banks falling to "low levels." It recommends that investors buy the following bank stocks: lBB&T (BBT), Huntington Bancshares (HBAN), JPMorgan (JPM), KeyCorp (KEY), M&T Bank (MTB), Northern Trust (NTRS), PNC Financial (PNC) and U.S. Bancorp (USB). The firm adds that "risk oriented investors should look to buy" Bank of America (BAC) and Citi (C).

TODAY'S FREE FLY STORIES

HVT

Haverty Furniture

$22.15

0.15 (0.68%)

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CONG

Congatec

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TERP

TerraForm Power

$12.79

0.23 (1.83%)

16:43
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  • 15

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WDC

Western Digital

$63.85

1.76 (2.83%)

16:42
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12/06
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Earnings
Western Digital raises Q2 adjusted EPS view to $2.10-$2.15 from $1.85-$1.95 »

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  • 06

    Dec

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General news
API crude inventories for week of December 2 »

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PAC

GAP Airports

$83.57

3.09 (3.84%)

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WDC

Western Digital

$63.85

1.76 (2.83%)

, SSNLF

Samsung

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WDC

Western Digital

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SSNLF

Samsung

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  • 06

    Dec

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    Dec

  • 07

    Dec

  • 08

    Dec

BPMC

Blueprint Medicines

$28.43

-0.22 (-0.77%)

16:36
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16:36
Syndicate
Blueprint Medicines files to sell $125M of common stock »

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BLUE

bluebird bio

$78.95

6.8 (9.42%)

16:33
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Syndicate
bluebird bio files to sell $200M of common stock »

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  • 08

    Dec

AIRT

Air T

$17.85

-0.15 (-0.83%)

16:32
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Air T subsidiary awarded contract by Delta Air Lines »

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AVT

Avnet

$46.69

0.86 (1.88%)

, HRB

H&R Block

$22.69

0.55 (2.48%)

16:31
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Avnet names Kevin Summers chief information officer »

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AVT

Avnet

$46.69

0.86 (1.88%)

HRB

H&R Block

$22.69

0.55 (2.48%)

LOW

Lowe's

$72.46

-0.2 (-0.28%)

WHR

Whirlpool

$169.40

-0.6 (-0.35%)

KO

Coca-Cola

$40.57

-0.05 (-0.12%)

03/08/13
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  • 06

    Dec

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    Dec

  • 07

    Dec

  • 09

    Dec

OHAI

OHA Investment

$2.63

-0.07 (-2.59%)

16:31
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Hot Stocks
Breaking Hot Stocks news story on OHA Investment »

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APDN

Applied DNA Sciences

$2.25

0.05 (2.27%)

16:30
12/06/16
12/06
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16:30
Syndicate
Breaking Syndicate news story on Applied DNA Sciences »

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  • 06

    Dec

  • 07

    Dec

16:30
12/06/16
12/06
16:30
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16:30
Options
Preliminary option volume of 12.8M today »

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ANTH

Anthera

$1.47

-0.03 (-2.00%)

16:28
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Anthera promotes Craig Thompson to CEO »

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  • 07

    Dec

PES

Pioneer Energy

$6.70

0.45 (7.20%)

16:28
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Syndicate
Pioneer Energy announces offering of 9M shares of common stock »

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BBG

Bill Barrett

$8.01

0.12 (1.52%)

16:27
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Bill Barrett announces offering of 11.5M shares of common stock »

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  • 07

    Dec

PLAY

Dave & Buster's

$48.00

-0.83 (-1.70%)

16:26
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  • 06

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IIVI

II-VI

$29.75

-0.2 (-0.67%)

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  • 16

    Dec

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ALOG

Analogic

$90.35

-0.6 (-0.66%)

16:23
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Earnings
Analogic reports Q1 non-GAAP diluted EPS 43c, consensus 80c »

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  • 06

    Dec

ANTH

Anthera

$1.47

-0.03 (-2.00%)

16:21
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  • 07

    Dec

SIG

Signet Jewelers

$93.98

0.34 (0.36%)

16:21
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Breaking Hot Stocks news story on Signet Jewelers »

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  • 06

    Dec

MRCY

Mercury Systems

$30.68

0.32 (1.05%)

16:21
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ADI

Analog Devices

$71.00

0.4 (0.57%)

, LLTC

Linear Technology

$61.79

0.18 (0.29%)

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ADI

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$71.00

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LLTC

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VIX

Volatility Index S&P 500 Options

$11.73

-0.41 (-3.38%)

16:20
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Closing CBOE SPX and VIX Index summary for December 6th »

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