Northern Trust Corporation (NTRS) Stock Price & Analysis
Northern Trust Corporation (NTRS) closed at USD 165.82 on Thursday, October 22, 2026, down 0.65% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 166.91; the Oct 22, 2026 session ranged USD 163.24–167.59 on volume of 1,637,547 shares. Market capitalization is $30.34B, with a 52-week range of USD 121.53–195.78 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:17 UTC.
Also available as compact Markdown for AI agents: nexqual.com/NTRS.md
Key facts (NTRS)
- Last four reported quarters (through Jun 30, 2026): revenue $9.05B, net income $2.24B (24.8% margin) (SEC filings).
- Valuation: P/E 13.5x (avg 13.7x at the last 3 fiscal year-ends).
- 3 of 80 tracked superinvestors hold NTRS (13F, Q2 2026): 0 new, 0 added, 1 reduced, 2 unchanged.
- Analysts: Hold (mean 3.06 on a 1–5 scale) (16 analysts), mean target USD 181.21 (range 158–194).
- Total return with dividends: 1Y +35.8% vs S&P 500 +14.9%; 5Y +53.5% vs S&P 500 +80.3%.
- Next earnings: 2027-01-21, EPS estimate USD 3.05, revenue estimate $2.29B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (NTRS)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $6.46B | $6.76B | $6.77B | $8.29B | $8.09B | $9.05B |
| Net income | $1.55B | $1.34B | $1.11B | $2.03B | $1.74B | $2.24B |
| EPS (diluted) | $7.14 | $6.14 | $5.08 | $9.77 | $8.74 | — |
| Free cash flow | $1.26B | $2.26B | $2.51B | -$588M | $5.46B | $445M |
| Net margin | 23.9% | 19.8% | 16.3% | 24.5% | 21.5% | 24.8% |
| Revenue growth | +6.0% | +4.6% | +0.2% | +22.4% | -2.5% | — |
| Cash + short-term investments | $3.06B | $4.65B | $4.79B | $4.68B | $5.87B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (NTRS)
P/E 13.5x · P/S 3.4x · P/FCF 68.1x · P/B 2.3x · FCF yield 1.47% · Earnings yield 7.39% · Dividend yield (paid, TTM) 1.97% · Buyback yield (TTM) 4.47%
P/E at fiscal year-ends: Dec 2025 15.1x, Dec 2024 10.2x, Dec 2023 15.8x.
Superinvestors (SEC 13F-HR, Q2 2026) (NTRS)
3 of 80 tracked investors hold NTRS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| John Rogers | Ariel Investments | 1.69% | $169M | Reduced -14.8% |
| Yacktman Asset Management | 0.02% | $1.7M | Unchanged | |
| Mairs & Power | Mairs & Power Funds | <0.01% | $417K | Unchanged |
Analysts (NTRS)
Consensus Hold (mean 3.06 on a 1–5 scale), 16 analysts; mean target USD 181.21 (low 158, high 194).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Morgan Stanley | Target raised | Underweight | $173 → $177 |
| 2026-10-22 | Barclays | Target raised | Equal-Weight | $189 → $194 |
| 2026-10-06 | BMO Capital | Target lowered | Outperform | $208 → $190 |
| 2026-10-05 | Citigroup | Target raised | Neutral | $182 → $186 |
| 2026-10-02 | JP Morgan | Target lowered | Neutral | $185.5 → $185 |
| 2026-10-01 | Evercore ISI Group | Target raised | In-Line | $179 → $183 |
| 2026-08-04 | JP Morgan | Target raised | Neutral | $179.5 → $185.5 |
| 2026-07-23 | Morgan Stanley | Target raised | Underweight | $170 → $173 |
| 2026-07-23 | RBC Capital | Downgrade | Outperform → Sector Perform | $178 |
| 2026-07-23 | Barclays | Target raised | Equal-Weight | $176 → $189 |
| 2026-07-23 | Wells Fargo | Target raised | Equal-Weight | $189 → $194 |
| 2026-07-09 | Keefe, Bruyette & Woods | Target raised | Underperform | $157 → $175 |
Total return (dividends reinvested) (NTRS)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +35.8% | +53.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +35.9% | +8.9% |
| Volatility (annualized) | 24.1% | 27.3% |
| Max drawdown | -14.7% (Aug 2026→Oct 2026) | -49.6% (Jan 2022→Oct 2023) |
NTRS revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Asset Servicing | $757.4M | 56.1% | +9.5% |
| Wealth Management | $592.1M | 43.9% | +9.8% |
| Total revenue | $1.35B | 100% | — |
NTRS revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Investment Management and Advisory | $712.3M | 52.8% | +9.7% |
| Custody and Fund Administration | $544.9M | 40.4% | +9.3% |
| Other | $62.7M | 4.6% | -0.2% |
| Securities Commissions and Trading Income | $53.1M | 3.9% | +40.8% |
| Securities Lending | $29.6M | 2.2% | +45.8% |
| Other Operating Income | $19.3M | 1.4% | -4.0% |
| Total revenue | $1.35B | 100% | — |
NTRS revenue by region (fiscal year ended Dec 31, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $5.65B | 112.6% | -8.4% |
| Non Us | $2.43B | 48.5% | +14.7% |
| Total revenue | $5.02B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
NTRS company outlook (results filed Oct 21, 2026)
- “Q3 2025 The negative provision in the prior-year quarter resulted from a decrease in collective reserves driven by improved macroeconomic factors primarily impacting the C&I portfolio and improved projections for Residential Real Estate. 4 NORTHERN TRUST CORPORATION THIRD QUARTER 2026 RESULTS NONINTEREST EXPENSE % Change Q3 2026 vs.”
- “Northern Trust assumes no obligation to update its forward-looking statements.”
Quoted word-for-word from the SEC 8-K results press release.
NTRS analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $3.05 | $2.92 | +4.5% | $2.29B | 11 |
| Next quarter (ends Mar 2027) | $2.93 | $2.92 | +0.3% | $2.33B | 9 |
| Current fiscal year (ends Dec 2026) | $13.40 | $12.75 | +5.1% | $9.29B | 10 |
| Next fiscal year (ends Dec 2027) | $12.96 | $12.53 | +3.4% | $9.50B | 12 |
NTRS options: expected move
Options price a move of about ±14.9% (±$24.75) by Apr 16, 2027, which includes earnings on Jan 21, 2027; the earnings reaction alone is priced at about ±6.6%. Over the last 8 reports the stock moved ±3.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 25.9% | ±5.8% |
| Dec 18, 2026 | 56 | 26.0% | ±8.2% |
| Jan 15, 2027 | 84 | 24.5% | ±9.4% |
| Apr 16, 2027 | 175 | 27.2% | ±14.9% |
30-day implied volatility 25% vs 21.2% realized over the last 30 trading days. Put/call ratio (volume) 0. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:17 UTC)
| Price | USD 165.82 |
|---|---|
| Change | ▼ 0.65% (down) |
| Previous Close | USD 166.91 |
| Open | USD 165.01 |
| Day Range | USD 163.24 – 167.59 |
| 52-Week Range | USD 121.53 – 195.78 |
| Volume | 1,637,547 shares |
| Market Cap | $30.34B |
| Exchange | NMS |
Technical Analysis (NTRS)
Nexqual's technical model rates NTRS "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:17 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 35.54 (neutral) |
| vs SMA50 | Below (USD 177.72) |
| MACD | -3.41 (negative) |
Analyst Ratings (NTRS)
Wall Street analysts rate NTRS "Hold" based on 16 analysts, with a mean price target of USD 181.21 (range USD 158–194), per Nexqual as of October 23, 2026 at 09:17 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 16 |
| Mean Target | USD 181.21 |
| High Target | USD 194 |
| Low Target | USD 158 |
| Buy / Hold / Sell | 2 / 12 / 2 |
Earnings (NTRS)
| Next Earnings Date | 2027-01-21 |
|---|---|
| EPS Estimate | USD 3.05 |
| Revenue Estimate | $2.29B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 3.4 vs est 2.84 ▲ beat |
| 2026-06-30 | USD 4.23 vs est 4.62 ▼ miss |
| 2026-03-31 | USD 2.71 vs est 2.33 ▲ beat |
| 2025-12-31 | USD 2.42 vs est 2.35 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:17 UTC.
Financials & Fundamentals (NTRS)
| Total Revenue | $9.33B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +12.10% |
| Gross Margin | +0.00% |
| Operating Margin | +34.80% |
| Profit Margin | +26.00% |
| ROE | +18.44% |
| Total Cash | $2.10B |
| Total Debt | $15.96B |
Source: Nexqual, October 23, 2026 at 09:17 UTC.
Financial Health Score (NTRS)
Nexqual rates Northern Trust Corporation's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:17 UTC.
| Growth | Weak — Revenue -2% YoY (annual), declining |
|---|---|
| Profitability | Strong — Net margin 21% (last 12 months); banks have no gross margin |
| Balance Sheet | N/A — Not comparable for banks: deposits and customer funds sit on the balance sheet, so cash vs debt does not measure safety (SEC industry: State Commercial Banks) |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: State Commercial Banks) |
| Efficiency | Solid — ROE 18%, ROA 1.4% |
Ownership (NTRS)
| Insider Ownership | +0.87% |
|---|---|
| Institutional Ownership | +87.20% |
| Shares Outstanding | 182.96M |
| Float | 178.89M |
| Short % of Float | +2.38% |
Source: Nexqual, October 23, 2026 at 09:17 UTC.
Leadership (NTRS)
Northern Trust Corporation is led by Michael Gerard O'Grady, Chairman, President & CEO, per Nexqual as of October 23, 2026 at 09:17 UTC.
| Chairman, President & CEO | Michael Gerard O'Grady |
|---|---|
| Executive VP & COO | Peter B. Cherecwich |
| Executive VP & President of Wealth Management | Jason Jerrome Tyler |
| Executive VP & CFO | David W. Fox |
Major Backers & Investors (NTRS)
Notable institutional backers of Northern Trust Corporation include FMR, LLC, Primecap Management Company, Massachusetts Financial Services Co., according to Nexqual as of October 23, 2026 at 09:17 UTC.
Active Investors
| Investor | Stake |
|---|---|
| FMR, LLC | 4.75% |
| Primecap Management Company | 3.33% |
| Massachusetts Financial Services Co. | 3.12% |
| Fidelity | 2.42% |
| State Farm Mutual Automobile Insurance Co | 2.27% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 11.04% |
| BlackRock | 7.94% |
| State Street | 4.97% |
| Northern Trust | 3.04% |
| Geode Capital | 2.82% |
Source: Nexqual, October 23, 2026 at 09:17 UTC.
From Northern Trust Corporation's Latest SEC 10-K Filing (filed 2026-02-24)
Key Strengths & Strategy (as disclosed to the SEC)
- The Volcker Rule generally prohibits banking entities, including the Bank and its affiliates, from engaging in proprietary trading, subject to certain exemptions and exclusions, such as for market-making, hedging, certain trading activities in U.S. and foreign sovereign debt, and trading activities related to liquidity management.
Partnerships
- The CCPA includes a private right of action (permitting lawsuits to be brought by private individuals instead of the state Attorney General or other government actor for certain breaches), and contemplates civil penalties of up to $2,500 for each violation and up to $7,500 for each intentional violation.
- Northern Trust Securities, Inc. and other subsidiaries of the Corporation are registered with the SEC as investment advisers and are subject to regulation by the SEC.
Legal & Regulatory Risks (Item 1A, quoted)
- Failure to comply with regulations and/or supervisory expectations can result in penalties and regulatory constraints that restrict our ability to grow or even conduct our business, or that reduce earnings.
- We are subject to extensive and evolving government regulation and supervision that impacts our operations. Changes by the U.S. and other governments to laws, regulations and policies applicable to the financial services industry may heighten the challenges we face and make regulatory compliance more difficult and costly.
- We are subject to complex and evolving laws, regulations, rules, standards and contractual obligations regarding data privacy and security, which could increase the cost of doing business, compliance risks and potential liability.
- We may be impacted adversely by claims or litigation, including claims or litigation relating to our fiduciary responsibilities.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| RJF | Raymond James Financial, Inc. | USD 159.19 | ▲ 2.25% |
| PFG | Principal Financial Group Inc | USD 110.11 | ▲ 1.54% |
| ARES | Ares Management Corporation | USD 123.7 | ▲ 5.72% |
| TROW | T. Rowe Price Group, Inc. | USD 103.45 | ▲ 0.15% |
| AMP | Ameriprise Financial, Inc. | USD 496.83 | ▲ 1.29% |
| STT | State Street Corporation | USD 167.84 | ▼ 0.66% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:17 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt