Northern Trust (NTRS) Misses Q3 EPS by 1c

Northern Trust (NASDAQ: NTRS) reported Q3 EPS of $1.08, $0.01 worse than the analyst estimate of $1.09. Revenue for the quarter came in at $1.22 billion versus the consensus estimate of $1.25 billion.

“Northern Trust performed well in the third quarter of 2016, producing 1.3 points of positive operating leverage and driving our expense-to-fee ratio lower to 107%. Total revenue grew 5% versus one year ago, with strong growth in net interest income and steady growth in trust, investment and other servicing fees, partially offset by lower foreign exchange trading income. Expenses were well managed, growing 4% versus one year ago. Earnings per share of $1.08 increased a strong 13% compared to one year ago, and we increased our quarterly cash dividend by 6% to $0.38 per common share,” said Frederick H. Waddell, Chairman and Chief Executive Officer.

For earnings history and earnings-related data on Northern Trust (NTRS) click here.

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