Previous Close | 69.22 |
Open | 68.53 |
Bid | 68.34 x 1000 |
Ask | 71.37 x 1000 |
Day's Range | 68.36 - 69.54 |
52 Week Range | 68.36 - 100.25 |
Volume | |
Avg. Volume | 1,300,260 |
Market Cap | 14.275B |
Beta (5Y Monthly) | 1.09 |
PE Ratio (TTM) | 12.36 |
EPS (TTM) | N/A |
Earnings Date | N/A |
Forward Dividend & Yield | 3.00 (4.33%) |
Ex-Dividend Date | Sep 07, 2023 |
1y Target Est | N/A |
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Northern Trust (NTRS) expects a 10% dip in third-quarter NII on higher funding costs.
Following insights shared at the Barclays Global Financial Services Conference, Zions Bancorp. (ZION) experienced its most promising day since July, with a notable increase in net interest income. In contrast, Northern Trust (NTRS) reported an unexpected decline in net interest income. Yahoo Finance's Akiko Fujita and Julie Hyman provide an analysis of the regional banking sector and how it could have an effect on commercial real estate and future interest rates.
Shares of Northern Trust Corp fell by more than 9% to their lowest level in nearly a month on Tuesday after the custodian and asset manager forecast a bigger-than-expected drop in net interest income (NII) in the third quarter. Northern Trust's NII, the difference between what it makes on loans and pays out on deposits, is likely to fall by as much as 10% this quarter, Chief Financial Officer Jason Tyler told the Barclays financial conference on Tuesday. Like many financial institutions in the current high interest rate environment, Northern Trust is confronting growing financing costs as tries to hold onto deposits.