Financial holding company, Northern Trust Corporation(NTRS) reported increased profit in the fourth quarter, but missed analysts estimates on Wednesday.
The Chicago, IL based company reported fourth quarter earnings of $165.2 million, or 69 cents per share, up 22% from $128.6 million, or 53 cents per share last year. Analysts expected to see earnings of 75 cents per share.
Revenue was reported at $969.7 million, up 1% from $955.6 million last year. Analysts expected revenue of $985.1 million.
Northern Trust shares were down -$1.03, or -1.95% during premarket trading Wednesday. The stock has increased 25% in the past year.
The Bottom Line
Shares of Northern Trust (NTRS) have a 2.27% dividend yield, based on last night’s closing stock price of $52.81. The stock has technical support in the $48 price area. If the shares can firm up, we see overhead resistance around the $54-$56 price levels.
Northern Trust Corporation(NTRS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.