Northern Trust (NTRS)

Northern Trust Corp. (NTRS) returned to making a profit, posting third quarter earnings of $187.9 million, or 77 cents a share, compared with a year-earlier loss of $148.3 million, or 66 cents. Excluding items including the prior-year costs from the company's supporting its cash-investment funds, earnings rose to 72 cents from 58 cents. Consolidated revenue fell 1% to $927.6 million. "The financial markets continue to send mixed signals. Although equity markets improved compared with the second quarter, they remain well below year-ago levels and interest rates have fallen dramatically year over year." said Frederick H. Waddell, president and CEO of Northern Trust, which provides investment management and other services to affluent people and institutions.
Chicago bank holding company still fell short of analysts' estimates.

Oct 21 · 10:01:00 AM · Source: Various
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by Larry Etter