Northern Trust Corporation (NASDAQ:NTRS) to Issue Quarterly Dividend of $0.88

Northern Trust Corporation (NASDAQ:NTRS) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.88 per share by the asset manager on Friday, January 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, December 4th.

Northern Trust has a dividend payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Northern Trust to earn $12.80 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 27.5%.

Northern Trust Stock Up 0.7%

NASDAQ NTRS traded up $1.08 during trading hours on Wednesday, hitting $166.52. 790,020 shares of the company traded hands, compared to its average volume of 1,092,659. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50-day moving average is $178.63 and its 200-day moving average is $173.50. Northern Trust has a twelve month low of $121.53 and a twelve month high of $195.78. The stock has a market capitalization of $30.47 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.93 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 21st. The asset manager reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.53. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.26 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. Sell-side analysts anticipate that Northern Trust will post 11.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on NTRS shares. Citigroup boosted their price objective on shares of Northern Trust from $182.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Royal Bank Of Canada downgraded Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their target price on shares of Northern Trust from $185.50 to $185.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Truist Financial lifted their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, TD Cowen initiated coverage on Northern Trust in a report on Thursday, October 8th. They issued a “hold” rating and a $175.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $183.93.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.