BUZZ-Northern Trust rises after Q4 profit quadruples

Reuters
01-24
BUZZ-Northern Trust rises after Q4 profit quadruples

** Asset and wealth manager Northern Trust's NTRS.O shares rise ~2.2% to $109.79, after a more than fourfold rise in Q4 profit

** Earnings came in at $447 mln, or $2.26 per share, in the three months ended Dec 31 vs $106.5 mln, or 52 cents, a year earlier

** Company's Q4 net interest income — the difference between what it earns on assets and pays out on liabilities — rose 15% to $574.3 mln

** NTRS's trust, investment and other servicing fees rose 12% to $1.22 bln in the fourth quarter

** Three of 16 brokerages rate the stock "buy" or higher, 11 "hold" and two "sell" or "strong sell"; their median PT is $110 - data compiled by LSEG

** NTRS stock rose ~21.5% in 2024

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))

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