Northern Trust Corp.

Northern Trust Corp.

NTRS

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Market Cap$33.47B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Northern Trust Corp.Northern Trust Corp.15.61.76%17%2.51.2

Earnings Call Q2 2026

July 22, 2026 - AI Summary

Strong Q2 performance + major drivers of growth (good / key takeaways): - Net income: $792.2M, EPS $4.23, ROE 25.9%. - Total revenue: +13% YoY, driven by trust fees +10%, net interest income (NII) +11%, and capital markets revenues +69% YoY (FX trading, securities commissions/trading). - Operating leverage: >700 bps excluding notable items (i.e., expense discipline + revenue growth).
Notable items and “surprising” one-off effects (good and bad): - Visa Class B exchange offer: pre-tax gain ~ $525M recognized in “other operating income.” - Other notable charges totaling ~$220M (management referenced restructuring and other items): $62M software dispositions, $51M severance (reduction in force), $33M one-time equity grant. - Offsetting portfolio repositioning created ~$74M pre-tax loss in other non-interest income; overall, notable items were material but also boosted net income (approx. $232M favorable impact to net income). - Excluding notable items: EPS +40% YoY (important because it shows the “real” momentum beyond the Visa gain).
Wealth & Asset Servicing showing durability, with some timing/seasonality noise (opportunities + challenges): - Wealth management: trust/investment servicing fees +10% YoY to $592M; AUM +14% YoY to $534B. Company emphasized progress in family office / UHNW and adding revenue-producing talent (producer roles). - Asset servicing: revenues +16% YoY; pre-tax margin >30% excluding notable items. AUA/Admin up, with assets under administration > $1T (hedge funds + private capital + semi-liquid structures). - Sequential fee quirks explained: wealth management fees may be affected by lagged fee structures in GFO (~70% lag) and alternatives valuation frequency/manual processes, plus seasonal outflows—management expects better sequential results in Q3.

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$181.29

Target Price by Analysts

0.5% downsideNorthern Trust Target Price DetailsTarget Price
$433.99

Current Fair Value

138.2% upside

Undervalued by 138.2% based on the discounted cash flow analysis.

Share Statistics

Market cap$33.47 Billion
Enterprise Value$-2,528,393,987.00
Dividend Yield$3.20 (1.76%)
Earnings per Share$8.79
Beta1.26
Outstanding Shares183,994,000

Return

Return on Equity16.72%ROE
Return on Assets1.25%
Return on Invested Capital1.78%

Valuation & Multiples

P/E Ratio15.56P/E Ratio
PEG17.67PEG
Price to Sales2.46Price to Sales
Price to Book Ratio2.53Price to Book Ratio
Enterprise Value to Revenue-0.19
Enterprise Value to EBIT-0.84
Enterprise Value to Net Income-2
Total Debt to Enterprise-6.24
Debt to Equity1.18Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 22, 2026
EPS Estimate
$2.71
Average shareholder expectation
Revenue Estimate
$2.69 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 21, 2026
EPS Estimate
$2.78
Average shareholder expectation
Revenue Estimate
$2.25 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 33.46%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %4.21%▼ 78.10%
Total Invested$1.35B▼ 93.75%
Investors Holding390▼ 580.00%

ESG Score

No data

About Northern Trust Corp.

20,900 employees
CEO: Michael O'Grady

Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a globa...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides crucial, non-partisan analysis and 'scoring' for all tax legislation, directly influencing corporate and individual tax structures that are central to Northern Trust's financial planning, wealth management, and profitability.

Finance

This committee directly controls taxation, trade, and entitlement spending, which are paramount to corporate valuations, client wealth strategies, and the overall fiscal and economic environment for Northern Trust.

Appropriations

This committee's allocation of discretionary federal spending directly impacts government programs, economic activity, and capital flows, which are fundamental drivers for Northern Trust's investment and asset servicing businesses.

Agriculture, Nutrition, and Forestry

As a financial institution involved in securities and commodity exchanges, Northern Trust is directly impacted by this committee's oversight of the CFTC, derivatives/futures markets, and the evolving regulation of cryptocurrencies as commodities.

Banking, Housing, and Urban Affairs

This committee directly regulates Northern Trust's core business areas, including banking, asset management, and securities. It determines capital requirements, cryptocurrency regulation, and overall financial system stability.

Budget

This committee shapes the macroeconomic environment, sovereign debt levels, and the potential for major spending packages, all of which critically impact financial markets, interest rates, and Northern Trust's operational landscape.