Why Northern Trust Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Northern Trust Corp's Q3 FY23 results have led to a 6% drop in its shares. The company's sales fell 2% Y/Y to $1.73 billion, missing the analyst consensus of $1.75 billion. However, EPS of $1.49 beat the consensus estimate of $1.47. Adjusted net interest margin contracted 13 basis points Y/Y to 1.45%, and noninterest expenses rose 4% Y/Y to $1.28 billion. The company returned $157.8 million to shareholders through dividends and share repurchases in Q3.
October 18, 2023 | 3:57 pm
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Northern Trust Corp's Q3 FY23 results have led to a 6% drop in its shares. The company's sales fell 2% Y/Y to $1.73 billion, missing the analyst consensus of $1.75 billion.
Northern Trust Corp's shares have dropped due to its Q3 FY23 results. The company's sales fell short of the analyst consensus, which likely led to the decrease in share price. The company's EPS did beat the consensus estimate, but this was not enough to offset the negative impact of the lower sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100