Overview

* Northern Trust ( NTRS ) Q3 revenue of $2.03 bln beats analyst expectations

* EPS for Q3 at $2.29, surpassing analyst estimates

* Net income for Q3 was $457.6 mln, slightly down from last year

Outlook

* Northern Trust ( NTRS ) did not provide specific future guidance in the press release

Result Drivers

* TRUST FEES - Growth in trust fees contributed to revenue increase, driven by asset servicing and wealth management

* EXPENSE DISCIPLINE - Continued focus on expense management led to pre-tax margin expansion and positive operating leverage

* ASSET GROWTH - Assets under management and custody increased due to favorable markets and currency translation

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $2.03 $2.02

Revenue bln bln (12

Analysts

)

Q3 EPS Beat $2.29 $2.24

(15

Analysts

)

Q3 Net $457.60

Income mln

Q3 Net $596.30

Interest mln

Income

Q3 $17 mln

Provisio

n for

Credit

Losses

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 11 "hold" and 3 "sell" or "strong sell"

* The average consensus recommendation for the investment management & fund operators peer group is "buy."

* Wall Street's median 12-month price target for Northern Trust Corp ( NTRS ) is $136.00, about 5.5% above its October 21 closing price of $128.52

* The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)