Northern Trust profit falls on hit from debt investment sale [Reuters]
Northern Trust Corporation (NTRS)
Last northern trust corporation earnings: 4/21 07:29 am
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Source: Reuters
April 16 (Reuters) - Asset and wealth manager Northern Trust (NTRS.O) New Tab , opens new tab posted a 38% fall in first-quarter profit on Tuesday as a loss on the sale of some debt investments offset gains from higher fee income for servicing and managing client assets. The company incurred a $189.4 million loss on the sale of certain debt securities, as it repositioned its portfolio. It also booked a $12.5 million expense tied to the replenishment of a government deposit insurance fund, which was drained after Silicon Valley Bank and Signature Bank failed last year. Shares of Northern Trust fell 1.2% in premarket trading. They have dipped 0.8% so far this year, compared to a 3.3% fall and 5.8% rise for peers State Street (STT.N) New Tab , opens new tab and Bank of New York Mellon (BK.N) New Tab , opens new tab , respectively. Northern Trust said the 135-year old company's net interest income (NII) - the difference between what it earns on assets and pays on liabilitie
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NTRS
Earnings
- 4/16/24 - Miss
NTRS
Sec Filings
- 4/25/24 - Form 4
- 4/23/24 - Form 10-Q
- 4/19/24 - Form 8-K
- NTRS's page on the SEC website