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Northern Trust Corporation (NTRS), headquartered in Chicago, Illinois, provides wealth management, asset servicing, asset management, and banking services. With a market cap of $18.80 billion, the company delivers financial solutions to individuals, corporations, institutions, and affluent families across the globe, solidifying its reputation as a trusted partner in the financial sector.
Companies valued at $10 billion or more are classified as "large-cap" stocks, and Northern Trust exemplifies this with its robust global presence and steady growth in the financial services industry. The company's innovative approach to managing assets and safeguarding financial futures ensures long-term stability and fosters confidence among its clients worldwide.
NTRS shares are trading marginally below their 52-week high of $92.82, which they hit on Sep. 20. The stock has gained 11.9% over the past three months, outperforming the broader S&P 500 Index ($SPX), which has gained 4.2% over the same time frame.
In the longer term, NTRS is up 8.9% on a YTD basis, and the shares have gained 31.5% over the past 52 weeks. In comparison, the SPX has gained 19.6% in 2024 and rallied 29.5% over the past year.
To confirm its bullish trend, NTRS has been trading above its 50-day moving average in mid-August and the 200-day moving average since late November 2023.
On Jul. 17, NTRS reported its Q2 results. Its revenue stood at $2.7 billion, up 53.8% year over year. Its EPS rose 178.2% year over year to $4.34. NTRS shares declined more than 5% on the day the results were released.
Highlighting the contrast in performance, NTRS’ competitor, Comerica Incorporated (CMA), has outperformed the stock. CMA has gained 10.2% on a YTD basis.
Despite the stock's strong recent price performance, analysts are cautious about NTRS' prospects. The stock has a consensus rating of "Hold" from 15 analysts in coverage. The mean price target is $89.96, which indicates that the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
