Northern Trust profit falls on hit from debt investment sale [Yahoo! Finance]
Northern Trust Corporation (NTRS)
Last northern trust corporation earnings: 4/21 07:29 am
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northerntrust.com/about-us/investor-relations
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Source: Yahoo! Finance
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 were down 1.3% soon after the open on Tuesday. They have dipped 0.8% so far this year, compared with a 3.3% fall and 5.8% rise for peers State Street and Bank of New York Mellon, 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 liabilities - fell 0.6% to $528.1 million due to higher deposits costs. Equity markets have rallied in recent months amid hopes of a soft landing for the economy, resulting in assets under custody or administration jumping 16% to $16.47 trillion in the quarter. Rivals State Street and Bank of New York Mellon also saw client assets
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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