Analyst Consensus ?
ConsensusHold34 ratings
Bullish1132.4%
Neutral1852.9%
Bearish514.7%
Northern Trust Corporation · NTRS · FY2025 Q3 · Calendar Q4 2025
Northern Trust: AI efficiency and organic growth remain central
The quarter supports a constructive operating narrative: organic growth, AI-enabled efficiency and expansion in alternatives and wealth management are offset by sensitivity to deposits, rates and fee pressure.
Reported Before market openNASDAQFinancial Services
$31.36B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.29
Consensus $2.26
EPS surprise
+1.3%
Reported versus consensus
Reported revenue
$3.58B
Consensus $2.03B
Revenue surprise
+76.5%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-2.4%
Event window
SPY move
-0.5%
Same window
Abnormal move
-1.8%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
+0.4%
Up to 20 sessions
NTRSSPY benchmark
Ask FN2 about NTRS FY2025 Q3
Transcript, numbers and history already loaded
Why did NTRS fall 2.4% after beating EPS estimates in FY2025 Q3?What changed in NTRS's guidance and outlook in FY2025 Q3?Give me the bull and bear case for NTRS after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current analysis places more emphasis on measurable AI productivity, large asset-servicing wins and maintained mid-to-high single-digit NII growth, while continuing the alternatives and ETF expansion.
Guidance delta
Maintained: expense growth below 5% for the year and net interest income growth in the mid-to-high single digits.
Key takeaways
- Management highlighted 6% year-over-year revenue growth, a 200-basis-point pretax-margin increase and 14% EPS growth.
- AI deployment is producing measurable productivity gains, including use across more than 150 cases.
- Wealth-management demand, alternatives and new ETF strategies were identified as growth drivers.
- Asset servicing added several large custody wins, while management maintained full-year guidance.
Management priorities
- Expand AI across operations and client-facing tools
- Grow alternatives, private-markets offerings and tokenization capabilities
- Focus on higher-margin opportunities while maintaining sub-5% expense growth
- Develop ETF strategies and strengthen wealth-management coverage
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$170.67Current
$85Low
$143.78Average
$194High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 5, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Neutral | Maintain | Oct 2, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 1, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 23, 2026 |
| RBC Capital | Sector Perform | Outperform | Downgrade | Jul 23, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Jul 23, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 23, 2026 |
| Keefe, Bruyette & Woods | Underperform | Underperform | Maintain | Jul 9, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 7, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jun 30, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jun 26, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Apr 22, 2026 |
| BMO Capital | Outperform | Market Perform | Upgrade | Apr 6, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jan 26, 2026 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jul 24, 2025 |
| UBS | Neutral | Neutral | Maintain | Jan 27, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Nov 11, 2024 |
| Jefferies | Buy | Buy | Maintain | Apr 18, 2024 |
| Credit Suisse | Underperform | Underperform | Maintain | Jun 14, 2023 |
| Seaport Global | Neutral | Buy | Downgrade | Apr 26, 2023 |
| Piper Sandler | Overweight | Overweight | Maintain | Jun 24, 2022 |
| Buckingham Research | Neutral | Neutral | Maintain | Jan 23, 2020 |
| Buckingham | Neutral | Neutral | Maintain | Jan 23, 2020 |
| Raymond James | Market Perform | Strong Buy | Downgrade | Jan 24, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Jan 11, 2019 |
| Sandler O'Neill | Buy | Hold | Upgrade | Oct 18, 2018 |
| CLSA | Underperform | Underperform | Maintain | Sep 23, 2016 |
| Keefe Bruyette & Woods | Market Perform | Market Perform | Maintain | Oct 22, 2015 |
| Northern Trust Corp | Outperform | Neutral | Upgrade | Dec 13, 2013 |
| Rafferty Capital | Buy | Hold | Upgrade | Oct 17, 2013 |
| Rafferty | Buy | Hold | Upgrade | Oct 17, 2013 |
| Evercore Partners | Underweight | Equal Weight | Downgrade | Jul 18, 2013 |
| Nomura | Neutral | Neutral | Maintain | Apr 17, 2013 |
| ISI Group | Buy | Buy | Maintain | Apr 17, 2013 |
| Guggenheim | Buy | Buy | Maintain | May 21, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $170.67. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Glenn Schorr | $183 | $169.36 | +7.2% | Oct 1, 2026 |
| Morgan Stanley | Manan Gosalia | $173 | $178.66 | +1.4% | Jul 23, 2026 |
| Wells Fargo | Analyst unavailable | $194 | $178.66 | +13.7% | Jul 23, 2026 |
| Barclays | Analyst unavailable | $189 | $178.66 | +10.7% | Jul 23, 2026 |
| RBC Capital | Analyst unavailable | $178 | $178.66 | +4.3% | Jul 22, 2026 |
| Evercore ISI | Analyst unavailable | $179 | $180.44 | +4.9% | Jul 6, 2026 |
| Morgan Stanley | Analyst unavailable | $170 | $176.09 | -0.4% | Jun 29, 2026 |
| UBS | Analyst unavailable | $186 | $172.41 | +9.0% | Jun 26, 2026 |
| Goldman Sachs | Alexander Blostein | $148 | $150.08 | -13.3% | Jan 28, 2026 |
| RBC Capital | Analyst unavailable | $159 | $148.9 | -6.8% | Jan 23, 2026 |
| Truist Financial | Analyst unavailable | $148 | $144.12 | -13.3% | Jan 7, 2026 |
| Goldman Sachs | Alexander Blostein | $130 | $144 | -23.8% | Jan 6, 2026 |
| Barclays | Analyst unavailable | $160 | $139.28 | -6.3% | Jan 5, 2026 |
| Truist Financial | Analyst unavailable | $139 | $124.28 | -18.6% | Oct 23, 2025 |
| Wells Fargo | Q3 EPS | $131 | $125.48 | -23.2% | Oct 23, 2025 |
| Wells Fargo | Analyst unavailable | $127 | $133.24 | -25.6% | Oct 3, 2025 |
| Truist Financial | Analyst unavailable | $142 | $131.2 | -16.8% | Oct 2, 2025 |
| Goldman Sachs | Analyst unavailable | $135 | $133.9 | -20.9% | Sep 30, 2025 |
| Morgan Stanley | Betsy Graseck | $131 | $133.31 | -23.2% | Sep 29, 2025 |
| RBC Capital | Analyst unavailable | $123 | $126.79 | -27.9% | Jun 30, 2025 |
| Morgan Stanley | Betsy Graseck | $95 | $83.46 | -44.3% | Apr 7, 2025 |
| Goldman Sachs | Alexander Blostein | $102 | $109.54 | -40.2% | Jan 23, 2025 |
| Wolfe Research | Steven Chubak | $110 | $102.25 | -35.5% | Jan 3, 2025 |
| Morgan Stanley | Betsy Graseck | $127 | $107.92 | -25.6% | Dec 9, 2024 |
| RBC Capital | Gerard Cassidy | $107 | $102.51 | -37.3% | Oct 24, 2024 |
| Evercore ISI | Glenn Schorr | $103 | $102.51 | -39.6% | Oct 24, 2024 |
| CFRA | Kenneth Leon | $107 | $102.51 | -37.3% | Oct 23, 2024 |
| Goldman Sachs | Alexander Blostein | $82 | $90.79 | -52.0% | Sep 25, 2024 |
| CFRA | Kenneth Leon | $95 | $86.16 | -44.3% | Jul 17, 2024 |
| Evercore ISI | Glenn Schorr | $86 | $79.56 | -49.6% | Apr 17, 2024 |
| CFRA | Kenneth Leon | $75 | $80.06 | -56.1% | Apr 16, 2024 |
| Deutsche Bank | Brian Bedell | $85 | $86.57 | -50.2% | Apr 5, 2024 |
| Deutsche Bank | Brian Bedell | $80 | $82.24 | -53.1% | Mar 19, 2024 |
| Morgan Stanley | Analyst unavailable | $101 | $96.19 | -40.8% | Feb 1, 2023 |
| Goldman Sachs | Analyst unavailable | $95 | $89.78 | -44.3% | Jan 4, 2023 |
| Morgan Stanley | Analyst unavailable | $102 | $92.77 | -40.2% | Dec 1, 2022 |
| Deutsche Bank | Analyst unavailable | $92 | $91.8 | -46.1% | Nov 15, 2022 |
| Deutsche Bank | Analyst unavailable | $145 | $107.88 | -15.0% | Apr 27, 2022 |
| Piper Sandler | Jeff Harte | $141 | $125.16 | -17.4% | Jan 6, 2022 |
| Seaport Global | James Mitchell | $151 | $123.62 | -11.5% | Jan 5, 2022 |
| Barclays | Jason Goldberg | $133 | $119.92 | -22.1% | Jan 3, 2022 |
| Credit Suisse | Susan Roth Katzke | $111 | $123.96 | -35.0% | Oct 20, 2021 |
| Wells Fargo | Mike Mayo | $125 | $106.72 | -26.8% | Oct 4, 2021 |
Track every rating change on NTRS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationNorthern Trust Corporation, a financial holding company established in 1889 and based in Chicago, Illinois, offers a comprehensive suite of wealth management, asset servicing, asset management, and banking solutions worldwide. Its diverse client base includes corporations, institutions, families, and individual investors. The company structures its operations across two primary segments: Asset Servicing and Wealth Management. The Asset Servicing division delivers a broad spectrum of support and operational services tailored for institutional entities. These services include custody, fund administration, outsourced investment operations, investment management, investment risk and analytical reporting, employee benefit services, securities lending, foreign exchange, treasury management, brokerage, transition management, and banking and cash management solutions.…
Historical context
All NTRS earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the NTRS recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-05T20:10:41.679170+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-05T20:10:41.675478+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-05. For educational purposes only; not investment advice.