Northern Trust
Delivers asset servicing and wealth management through its principal trust bank.
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Profile
Delivers asset servicing and wealth management through a Chicago-rooted bank holding company. Asset management and related services support both client-facing reporting segments, while bank-subsidiary capital rules help shape operations.
Provides asset servicing and wealth management through a Chicago-rooted bank holding company and its principal subsidiary, The Northern Trust Company. Asset management and related services support clients across both reporting segments.
Asset Servicing expanded its fund-administration, investment-operations outsourcing and custody capabilities through selected additions, including Bank of Ireland Securities Services, Omnium and UBS Asset Management units in Luxembourg and Switzerland. Wealth Management is the other client-facing reporting segment.
A recent operating-model transformation emphasizes client-centric capabilities, standardized critical processes and operational scale. Capital requirements in their operating jurisdictions shape the non-U.S. banking subsidiaries.
Company facts
Categories
Key statistics
Year to date +34.1% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 23, 2026 | Morgan Stanley | Reiterate | Underweight | $170 | $173 | |
| Jul 23, 2026 | Wells Fargo | Reiterate | Equal Weight | $131 | $194 | |
| Jul 23, 2026 | Barclays | Reiterate | Equal Weight | $160 | $189 | |
| Jul 23, 2026 | RBC Capital | Downgrade | Outperform | Sector Perform | ||
| Jul 22, 2026 | RBC Capital | Downgrade | Outperform | Sector Perform | $159 | $178 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $2.71 | $2.97 | +9.6% | $2.69B | $2.71B | +0.5% | −0.40% |
| Apr 21, 2026Q1 FY26 | $2.32 | $2.71 | +16.8% | $2.12B | $2.21B | +4.4% | −2.28% |
| Jan 22, 2026Q4 FY25 | $2.37 | $2.69 | +13.5% | $2.06B | $2.14B | +3.8% | −2.93% |
| Oct 22, 2025Q3 FY25 | $2.26 | $2.29 | +1.3% | $2.03B | $3.58B | +76.5% | −0.59% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.51B | $3.60B | $3.58B | $3.61B | $3.79B | $4.21B | |
| Gross profit | $1.94B | $1.98B | $2.04B | $2.12B | $2.21B | $2.70B | |
| Operating income | $521.4M | $564.8M | $619.5M | $625.8M | $700.6M | $1.06B | |
| Net income | $392.0M | $421.3M | $457.6M | $466.0M | $525.5M | $792.2M | |
| Diluted EPS | $1.90 | $2.13 | $2.29 | $2.42 | $2.71 | $4.23 | |
| Gross margin | 55.2% | 55.0% | 57.1% | 58.8% | 58.3% | 64.2% | |
| Operating margin | 14.8% | 15.7% | 17.3% | 17.3% | 18.5% | 25.3% |
Fiscal years (4-quarter sums)FY18 $6.66B · FY19 $6.90B · FY20 $6.30B · FY24 $15.88B · FY25 $14.30B
Revenue by product · Q1 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $51.76B · Total debt $15.76B · Total assets $179.30B · Shareholders' equity $13.40B
Dividends
Raised for 38 straight years — most recently to $0.80 from $0.75 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 5, 2026 | Jun 5 | Jul 1 | $0.80 | |
| Mar 6, 2026 | Mar 6 | Apr 1 | $0.80 | |
| Dec 5, 2025 | Dec 5 | Jan 1 | $0.80 | |
| Sep 5, 2025 | Sep 5 | Oct 1 | $0.80 | raised from $0.75 |
| Jun 6, 2025 | Jun 6 | Jul 1 | $0.75 | |
| Mar 14, 2025 | Mar 14 | Apr 1 | $0.75 | |
| Dec 6, 2024 | Dec 6 | Jan 1 | $0.75 | |
| Sep 6, 2024 | Sep 6 | Oct 1 | $0.75 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 182.96M · Float 179.78M · 98.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 14.52M | 7.94% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 11.78M | 6.44% | 13F | Aug 13, 2026 |
| State Street Corp | 9.10M | 4.97% | 13F | Aug 7, 2026 |
| FMR LLC | 8.68M | 4.75% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 8.41M | 4.60% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Thomas A. South | officer: Executive Vice President | −1,800 | $184.90 |
| Jul 29, 2026 | Robert Edward Jr. Moritz | director | +255 | $179.57 |
| Jun 3, 2026 | Aengus Hallinan | officer: Executive Vice President | −3,668 | $167.36 |
| May 1, 2026 | Robert Edward Jr. Moritz | director | +225 | $166.41 |
| Apr 29, 2026 | David W. Jr Fox | officer: EVP & Chief Financial Officer | −13 | $165.74 |
Peers
- State Street
Institutional custody, fund administration and investment management
- JPMorgan Chase
Global custody, fund services and private wealth management
- Citi
Global securities services and private-bank wealth offerings
- BlackRock
Investment products and technology for institutional clients
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Northern Trust | $186.79 | +0.01% | $34.17B | 16.0 | 15.7 | 2.3 | −24.9% |
| State Street | $193.32 | +0.01% | $53.51B | 17.1 | 13.5 | 2.3 | −30.2% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| Citi | $132.62 | −0.19% | $227.81B | 14.3 | 11.4 | 1.3 | +14.3% |
| BlackRock | $1,163.84 | −0.03% | $180.49B | 27.8 | 19.5 | 6.6 | +30.6% |
| Median | 16.2 | 14.2 | 2.8 | +21.0% |