First Hawaiian Bank Buys Shares of 7,906 Northern Trust Co. (NASDAQ:NTRS)

Posted by on Jul 2nd, 2023

First Hawaiian Bank acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,906 shares of the asset manager’s stock, valued at approximately $697,000.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Northern Trust by 14.1% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 147,420 shares of the asset manager’s stock worth $13,235,000 after buying an additional 18,265 shares during the period. Archford Capital Strategies LLC lifted its holdings in shares of Northern Trust by 8.2% in the 1st quarter. Archford Capital Strategies LLC now owns 3,819 shares of the asset manager’s stock worth $334,000 after purchasing an additional 289 shares in the last quarter. Forsta AP Fonden lifted its holdings in shares of Northern Trust by 22.6% in the 4th quarter. Forsta AP Fonden now owns 60,200 shares of the asset manager’s stock worth $5,327,000 after purchasing an additional 11,100 shares in the last quarter. Ballast Inc. lifted its holdings in shares of Northern Trust by 7.6% in the 4th quarter. Ballast Inc. now owns 8,902 shares of the asset manager’s stock worth $788,000 after purchasing an additional 630 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its holdings in shares of Northern Trust by 27.9% in the 4th quarter. Dupont Capital Management Corp now owns 545 shares of the asset manager’s stock worth $48,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Northern Trust Trading Up 1.1 %

Shares of NTRS opened at $74.14 on Friday. The business has a 50-day moving average of $73.67 and a 200 day moving average of $85.04. Northern Trust Co. has a fifty-two week low of $69.54 and a fifty-two week high of $104.57. The firm has a market cap of $15.45 billion, a P/E ratio of 12.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.69 and a current ratio of 0.69.

Northern Trust (NASDAQ:NTRS – Free Report) last posted its earnings results on Tuesday, April 25th. The asset manager reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.01). The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Northern Trust had a net margin of 14.73% and a return on equity of 14.30%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 EPS. As a group, research analysts forecast that Northern Trust Co. will post 6.3 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Friday, June 9th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Thursday, June 8th. Northern Trust’s payout ratio is presently 51.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Northern Trust in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Royal Bank of Canada dropped their price objective on Northern Trust from $87.00 to $77.00 in a research note on Wednesday, April 26th. UBS Group dropped their price objective on Northern Trust from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, April 4th. Citigroup dropped their price objective on Northern Trust from $78.00 to $75.00 in a research note on Tuesday, June 13th. Finally, TheStreet lowered Northern Trust from a “b-” rating to a “c+” rating in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $93.05.

About Northern Trust

(Free Report)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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