Northern Trust Corporation (NASDAQ:NTRS) close to 52-week high on important volume, short interest increasing

Northern Trust Corporation (NASDAQ:NTRS) (TREND ANALYSIS) shares were traded with a significant increase in volume. The stock closed last trading session at $70.36, up by 1.27%, with a volume of 1,776,533 shares against an average volume for the last 3 months of 1,150,420.

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NTRS is expected to report next quarter earnings on April 21. The Asset Management & Custody company’s earning per share consensus Street estimate stands at $0.86.

Northern Trust Corporation (NASDAQ:NTRS) is currently trading 2.06% below its 52-week-high, 20.69% above its 52-week-low. The 12-months range for the stock is $58.3 – $71.84. Northern Trust Corporation (NTRS) has a price to earnings ratio of 20.93 versus Nasdaq average of 18.51. NTRS stock price has underperformed the Nasdaq by 0.3%. The Asset Management & Custody company is currently valued at $16.43 billion and its share price closed the last trading session at $70.36. The stock has a 50-day moving average of $68.49 and a 200-day moving average of $67.34.

Northern Trust Corporation (NTRS) current short interest stands at 2.69 millions shares. It has increased by 13% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1 millions shares, the number of days required to cover the short positions stand at 2.7 days.

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There are currently twenty analysts that cover NTRS stock. Of those twenty, two have a Buy rating, fourteen have a Hold rating and four have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $69.97.

A previous analyst activity consisted of UBS reiterating their Sell stance. UBS increased their price target on NTRS from $57 to $60. This corresponds to a 14.72% downside from the last closing price. On the date of report, the stock closed at $63.42.

Company profile

Northern Trust Corporation, through its subsidiaries, provides asset servicing, fund administration, asset management, and fiduciary and banking solutions for corporations, institutions, families, and individuals worldwide. The company offers corporate and institutional services, including global master trust and custody, trade settlement, and reporting; fund administration; cash management; investment risk and performance analytical services; investment operations outsourcing; and transition management and commission recapture services. It also provides personal financial services, such as personal trust, investment management, custody, and philanthropic services; financial consulting; guardianship and estate administration; brokerage services; and private and business banking services, as well as customized products and services. In addition, the company offers active and passive equity and fixed income portfolio management, as well as alternative asset classes comprising private equity and hedge funds of funds, and multi-manager products and advisory services. Further, it engages in fund administration, investment operations outsourcing, and custody business that provides specialized services to a range of funds, which include money-market, multi-manager, exchange-traded funds, and property funds for on-shore and off-shore markets. Additionally, the company provides administrative and middle-office services consisting of trade processing, valuation, real-time reporting, accounting, collateral management, and investor servicing. Northern Trust Corporation was founded in 1889 and is based in Chicago, Illinois.

Northern Trust Corporation (NASDAQ:NTRS) close to 52-week high on important volume, short interest increasing was last modified: March 9th, 2015 by Jason Seligman