We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Compared to Estimates, Northern Trust (NTRS) Q1 Earnings: A Look at Key Metrics
Read MoreHide Full Article
For the quarter ended March 2024, Northern Trust Corporation (NTRS - Free Report) reported revenue of $1.65 billion, down 5.6% over the same period last year. EPS came in at $1.70, compared to $1.51 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.79 billion, representing a surprise of -7.91%. The company delivered an EPS surprise of +15.65%, with the consensus EPS estimate being $1.47.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Northern Trust performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin (FTE): 1.6% versus the four-analyst average estimate of 1.6%.
Average Balance-Total earning assets: $133.82 billion versus the four-analyst average estimate of $129.37 billion.
Tier 1 Leverage Ratio: 7.8% compared to the 7.9% average estimate based on three analysts.
Total Nonperforming Assets (Nonaccrual Assets): $37 million versus the two-analyst average estimate of $103.41 million.
Nonaccrual Loans and Leases: $37 million versus the two-analyst average estimate of $102.66 million.
Asset Servicing Trust, Investment and Other Servicing Fees- Total: $639.60 million compared to the $647.48 million average estimate based on three analysts. The reported number represents a change of +6.1% year over year.
Wealth Management Trust, Investment and Other Servicing Fees- Total: $503.30 million versus the three-analyst average estimate of $506.52 million. The reported number represents a year-over-year change of +9.3%.
Asset Servicing Trust, Investment and Other Servicing Fees- Securities Lending: $17.90 million versus the two-analyst average estimate of $23.59 million. The reported number represents a year-over-year change of -6.3%.
Asset Servicing Trust, Investment and Other Servicing Fees- Other: $45 million versus $43.77 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2% change.
Asset Servicing Trust, Investment and Other Servicing Fees- Custody and Fund Administration: $436.70 million versus $444.14 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
Wealth Management Trust, Investment and Other Servicing Fees- Global Family Office: $95.20 million compared to the $93.38 million average estimate based on two analysts. The reported number represents a change of +10.7% year over year.
Asset Servicing Trust, Investment and Other Servicing Fees- Investment Management: $140 million compared to the $138.74 million average estimate based on two analysts. The reported number represents a change of +10.9% year over year.
Shares of Northern Trust have returned +2.2% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Compared to Estimates, Northern Trust (NTRS) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Northern Trust Corporation (NTRS - Free Report) reported revenue of $1.65 billion, down 5.6% over the same period last year. EPS came in at $1.70, compared to $1.51 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.79 billion, representing a surprise of -7.91%. The company delivered an EPS surprise of +15.65%, with the consensus EPS estimate being $1.47.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Northern Trust performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin (FTE): 1.6% versus the four-analyst average estimate of 1.6%.
- Average Balance-Total earning assets: $133.82 billion versus the four-analyst average estimate of $129.37 billion.
- Tier 1 Leverage Ratio: 7.8% compared to the 7.9% average estimate based on three analysts.
- Total Nonperforming Assets (Nonaccrual Assets): $37 million versus the two-analyst average estimate of $103.41 million.
- Nonaccrual Loans and Leases: $37 million versus the two-analyst average estimate of $102.66 million.
- Asset Servicing Trust, Investment and Other Servicing Fees- Total: $639.60 million compared to the $647.48 million average estimate based on three analysts. The reported number represents a change of +6.1% year over year.
- Wealth Management Trust, Investment and Other Servicing Fees- Total: $503.30 million versus the three-analyst average estimate of $506.52 million. The reported number represents a year-over-year change of +9.3%.
- Asset Servicing Trust, Investment and Other Servicing Fees- Securities Lending: $17.90 million versus the two-analyst average estimate of $23.59 million. The reported number represents a year-over-year change of -6.3%.
- Asset Servicing Trust, Investment and Other Servicing Fees- Other: $45 million versus $43.77 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2% change.
- Asset Servicing Trust, Investment and Other Servicing Fees- Custody and Fund Administration: $436.70 million versus $444.14 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
- Wealth Management Trust, Investment and Other Servicing Fees- Global Family Office: $95.20 million compared to the $93.38 million average estimate based on two analysts. The reported number represents a change of +10.7% year over year.
- Asset Servicing Trust, Investment and Other Servicing Fees- Investment Management: $140 million compared to the $138.74 million average estimate based on two analysts. The reported number represents a change of +10.9% year over year.
View all Key Company Metrics for Northern Trust here>>>Shares of Northern Trust have returned +2.2% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.