For the quarter ended September 2023, Northern Trust Corporation (NTRS - Free Report) reported revenue of $1.73 billion, down 1.6% over the same period last year. EPS came in at $1.49, compared to $1.80 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.72 billion, representing a surprise of +0.30%. The company delivered an EPS surprise of -0.67%, with the consensus EPS estimate being $1.50.
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 Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Balance-Total earning assets: $128.25 billion versus $133.17 billion estimated by four analysts on average.
- Net interest margin (FTE): 1.5% compared to the 1.4% average estimate based on four analysts.
- Tier 1 Leverage Ratio: 7.9% versus 7.4% estimated by three analysts on average.
- Nonaccrual Loans and Leases: $68.80 million compared to the $87.79 million average estimate based on two analysts.
- Asset Servicing Trust, Investment and Other Servicing Fees- Total: $626 million compared to the $632.29 million average estimate based on three analysts. The reported number represents a change of +3.8% year over year.
- Wealth Management Trust, Investment and Other Servicing Fees- Total: $485.90 million versus the three-analyst average estimate of $485.57 million.
- Asset Servicing Trust, Investment and Other Servicing Fees- Securities Lending: $20.40 million compared to the $21.35 million average estimate based on two analysts. The reported number represents a change of -6% year over year.
- Asset Servicing Trust, Investment and Other Servicing Fees- Other: $40.40 million versus $38.68 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
- Asset Servicing Trust, Investment and Other Servicing Fees- Custody and Fund Administration: $428.10 million versus the two-analyst average estimate of $432.66 million. The reported number represents a year-over-year change of +5.1%.
- Wealth Management Trust, Investment and Other Servicing Fees- Global Family Office: $91.70 million versus the two-analyst average estimate of $93.97 million.
- Asset Servicing Trust, Investment and Other Servicing Fees- Investment Management: $137.10 million versus $138.75 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.8% change.
- Net Interest Income - FTE Adjusted: $469.40 million versus $472.82 million estimated by four analysts on average.
View all Key Company Metrics for Northern Trust Corporation here>>>Shares of Northern Trust Corporation have returned +0.2% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended September 2023, Northern Trust Corporation (NTRS - Free Report) reported revenue of $1.73 billion, down 1.6% over the same period last year. EPS came in at $1.49, compared to $1.80 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.72 billion, representing a surprise of +0.30%. The company delivered an EPS surprise of -0.67%, with the consensus EPS estimate being $1.50.
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 Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Balance-Total earning assets: $128.25 billion versus $133.17 billion estimated by four analysts on average.
- Net interest margin (FTE): 1.5% compared to the 1.4% average estimate based on four analysts.
- Tier 1 Leverage Ratio: 7.9% versus 7.4% estimated by three analysts on average.
- Nonaccrual Loans and Leases: $68.80 million compared to the $87.79 million average estimate based on two analysts.
- Asset Servicing Trust, Investment and Other Servicing Fees- Total: $626 million compared to the $632.29 million average estimate based on three analysts. The reported number represents a change of +3.8% year over year.
- Wealth Management Trust, Investment and Other Servicing Fees- Total: $485.90 million versus the three-analyst average estimate of $485.57 million.
- Asset Servicing Trust, Investment and Other Servicing Fees- Securities Lending: $20.40 million compared to the $21.35 million average estimate based on two analysts. The reported number represents a change of -6% year over year.
- Asset Servicing Trust, Investment and Other Servicing Fees- Other: $40.40 million versus $38.68 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
- Asset Servicing Trust, Investment and Other Servicing Fees- Custody and Fund Administration: $428.10 million versus the two-analyst average estimate of $432.66 million. The reported number represents a year-over-year change of +5.1%.
- Wealth Management Trust, Investment and Other Servicing Fees- Global Family Office: $91.70 million versus the two-analyst average estimate of $93.97 million.
- Asset Servicing Trust, Investment and Other Servicing Fees- Investment Management: $137.10 million versus $138.75 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.8% change.
- Net Interest Income - FTE Adjusted: $469.40 million versus $472.82 million estimated by four analysts on average.
View all Key Company Metrics for Northern Trust Corporation here>>>Shares of Northern Trust Corporation have returned +0.2% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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