Northern Trust (NASDAQ:NTRS) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Northern Trust to $200 from $190 and kept a buy rating, implying about 10.4% upside from the current price.
• Other analysts also turned more constructive, with several firms lifting targets, though the broader consensus remains Hold with an average price target of $175.18.
• Northern Trust reported better-than-expected quarterly earnings of $2.71 per share on revenue of $2.21 billion, and the stock was up 2.6% in the session described.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target boosted by equities research analysts at Bank of America from $190.00 to $200.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the asset manager's stock. Bank of America's price objective indicates a potential upside of 10.41% from the company's current price.

Several other equities analysts also recently weighed in on the company. Barclays raised their price target on Northern Trust from $160.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada increased their price objective on Northern Trust from $159.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Evercore set a $179.00 price objective on Northern Trust in a research report on Monday. Truist Financial boosted their target price 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, The Goldman Sachs Group upped their target price on shares of Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $175.18.

Northern Trust Stock Up 2.6%

NTRS stock opened at $181.14 on Tuesday. The company's 50 day simple moving average is $168.93 and its 200-day simple moving average is $153.33. The firm has a market capitalization of $33.52 billion, a PE ratio of 18.97, a P/E/G ratio of 1.20 and a beta of 1.25. Northern Trust has a 12 month low of $118.99 and a 12 month high of $181.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period last year, the company posted $1.90 EPS. The company's revenue was up 13.8% on a year-over-year basis. Equities analysts expect that Northern Trust will post 11.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David W. Fox, Jr. sold 19,987 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. The trade was a 51.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the purchase, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,800 shares of company stock worth $3,785,251. Corporate insiders own 0.66% of the company's stock.

Institutional Investors Weigh In On Northern Trust

Several large investors have recently bought and sold shares of NTRS. Triumph Capital Management acquired a new stake in shares of Northern Trust in the third quarter worth approximately $25,000. Reflection Asset Management acquired a new position in Northern Trust in the 4th quarter valued at $25,000. Board of the Pension Protection Fund purchased a new position in Northern Trust in the 4th quarter valued at $27,000. Basecamp Wealth Advisors LLC boosted its stake in Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock worth $28,000 after purchasing an additional 101 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in Northern Trust during the 4th quarter worth $34,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Company Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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