Why Northern Trust Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Northern Trust Corporation (NTRS) shares fell after reporting Q1 FY24 results with a 6% Y/Y sales decline to $1.65 billion, missing estimates, and a sharp EPS drop to $0.96 from $1.51 Y/Y. Adjusted EPS beat estimates at $1.70. Expenses rose 6% Y/Y, and assets under management were $1.5 trillion. The company returned $285.4 million to shareholders. Exposure to NTRS can be gained through KBWB and SAEF ETFs.
April 16, 2024 | 5:24 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Investors can gain exposure to Northern Trust, which reported a decline in Q1 FY24 financial performance, through Invesco KBW Bank ETF (KBWB).
As an ETF that includes NTRS, KBWB may see indirect effects from NTRS's performance, but diversified holdings may mitigate direct impact on the ETF's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Schwab Strategic Trust Schwab Ariel ESG ETF (SAEF) offers exposure to Northern Trust, which faced a sales and EPS decline in Q1 FY24.
Given SAEF's exposure to NTRS, the ETF might experience indirect impacts from NTRS's financial performance, though its diversified nature could buffer significant price movements.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Northern Trust reported a 6% Y/Y sales decline and a sharp EPS drop in Q1 FY24, with adjusted EPS beating estimates. Returned $285.4M to shareholders.
The decline in sales and EPS, despite beating adjusted EPS estimates, indicates potential short-term negative sentiment among investors, leading to a decrease in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100