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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Northern Trust Corporation    NTRS

NORTHERN TRUST CORPORATION (NTRS)
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Northern Trust : Announces Federal Reserve's Review of Its 2018 Capital Plan

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07/12/2018 | 11:38pm CEST

By a News Reporter-Staff News Editor at Economics Week -- Northern Trust Corporation announced that the Federal Reserve did not object to its 2018 Capital Plan.

Pursuant to its 2018 Capital Plan, Northern Trust requested authority to increase its quarterly common stock dividend to $0.55 per share from $0.42 per share, effective in the third quarter of 2018 and subject to approval by the company's board of directors. As indicated by the Federal Reserve's 2018 stress test results, Northern Trust's 2018 Capital Plan also provides the company with the flexibility to repurchase up to $1 billion of common stock through the open market or in privately negotiated transactions between July 2018 and June 2019. The timing and amount of shares repurchased will depend on various factors, including, but not limited to, Northern Trust's business plans, financial performance, other investment opportunities, and general market conditions, including share price.

"We believe the capital distributions included in our 2018 Capital Plan demonstrate the strength of Northern Trust's focused business model and balance sheet, as well as our commitment to shareholders," said Michael O'Grady, Northern Trust President and Chief Executive Officer. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) 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 offices in the United States in 19 states and Washington, D.C., and 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2018, Northern Trust had assets under custody/administration of US$10.8 trillion, and assets under management of US$1.2 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/disclosures. View source version on businesswire.com: https://www.businesswire.com/news/home/20180628006369/en/

Keywords for this news article include: Business, Economics, Federal Reserve, Financial Companies, Regional - Midwest Banks, Northern Trust Corporation.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2018, NewsRx LLC

(c) 2018 NewsRx LLC, source Business Newsletters

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Financials ($)
Sales 2018 6 068 M
EBIT 2018 2 035 M
Net income 2018 1 485 M
Debt 2018 -
Yield 2018 1,83%
P/E ratio 2018 15,91
P/E ratio 2019 14,67
Capi. / Sales 2018 3,96x
Capi. / Sales 2019 3,79x
Capitalization 24 034 M
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Technical analysis trends NORTHERN TRUST CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 120 $
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Michael G. O'Grady President, Chief Executive Officer & Director
Frederick H. Waddell Chairman
Stephen Biff Bowman Chief Financial Officer & Executive Vice President
Scott S. Murray Chief Technology Officer & Executive VP
John W. Rowe Lead Independent Director
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