Evercore analyst Glenn Schorr maintains $Northern Trust (NTRS.US)$ with a hold rating, and adjusts the target price from $86 to $103.
According to TipRanks data, the analyst has a success rate of 67.3% and a total average return of 11.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Northern Trust (NTRS.US)$'s main analysts recently are as follows:
Northern Trust's premium private banking business, which serves the ultra-high net worth segment, has been hindered by average execution, impacting investor sentiment. However, with management's heightened emphasis on operational excellence, there is an expectation for positive operating leverage to ensue.
Following the Q3 report, it's noted that Northern Trust's core earnings exceeded expectations, largely due to stronger net interest income than initially projected.
Northern Trust delivered robust results for the third quarter; however, persistent concerns regarding expense issues were noted. It is anticipated that management will exert significant efforts to mitigate expense growth, although this task may prove arduous and require an extended period.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
