Financial Performance - Northern Trust's full year 2024 revenue reached $83222 billion, a 22% increase compared to 2023[44] - Full year 2024 net income was $20311 billion, an 83% increase compared to 2023[44] - The company's return on average common equity for full year 2024 was 174%, compared to 100% in 2023[44] - Northern Trust's assets under custody/administration (AUC/A) reached $16788 trillion as of December 31, 2024, a 9% increase year-over-year[9,44] - Assets Under Management (AUM) was $16104 trillion as of December 31, 2024, up 12% from the previous year[12,44] - The expense to trust fee ratio for full year 2024 was 119%, compared to 121% in 2023[44] Business Segment Highlights - Wealth Management's Assets under Management (AUM) reached $4507 billion in 4Q 2024, a 2% increase compared to the previous quarter and a 12% increase year-over-year[9,33] - Asset Servicing's Assets under Custody / Administration (AUC/A) was $156401 trillion in 4Q 2024, a 4% decrease compared to the previous quarter and a 9% increase year-over-year[14,29] - Net Interest Income (FTE) was $5743 million in 4Q 2024, a 1% increase compared to the previous quarter and a 15% increase year-over-year[36] Capital Management - The company's standardized Common Equity Tier 1 capital ratio was 124% in 4Q 2024[52] - Northern Trust repurchased $2537 million of common stock in 4Q 2024[54]

Exhibit 99.3 Financial Trends The historical financial results and trends reflected in this report are not indicative of future financial results and trends for Northern Trust Corporation. This report should be read in conjunction with the Corporation's Fourth Quarter 2024 earnings press release and periodic reports to the Securities and Exchange Commission, all of which contain additional information about factors that could affect the Corporation's future financial results and trends. The Corporation assu ...

Core Viewpoint - Northern Trust Corporation (NTRS) is expected to report improved revenues and earnings for the fourth quarter of 2024, with significant year-over-year growth anticipated in both earnings per share and total revenues [1][3]. Financial Performance Expectations - The Zacks Consensus Estimate for NTRS' fourth-quarter earnings is $2.02 per share, reflecting a 38.36% increase from the previous year [3]. - The consensus estimate for revenues stands at $1.93 billion, indicating a year-over-year rise of 24.84% [3]. - NTRS recorded a positive earnings surprise of 13.3% in the last reported quarter, benefiting from increased fee income and strong capital ratios, despite rising expenses [2]. Key Revenue Drivers - Net Interest Income (NII) is estimated at $551.3 million for Q4 2024, representing a 14.1% year-over-year increase, supported by recent Federal Reserve interest rate cuts [4]. - Average earning assets are projected to be $135.1 billion, an 8% increase from the prior year [6]. - Total fee income is expected to reach $1.38 billion, a 30.3% increase from the previous year, driven by robust equity market performance enhancing custody and fund administration revenues [9][7]. Expense and Asset Quality Outlook - Total operating expenses are anticipated to rise by 28.6% year over year to $178 million, primarily due to increased compensation and investments in equipment and software [10]. - The Zacks Consensus Estimate for non-accrual loans is $47.3 million, indicating a 25.6% decline year-over-year, suggesting improved asset quality [10]. Earnings Prediction Model - The earnings prediction model indicates a strong likelihood of an earnings beat for NTRS, supported by a positive Earnings ESP of +0.38% and a Zacks Rank of 3 (Hold) [11][12].

Wall Street analysts forecast that Northern Trust Corporation (NTRS) will report quarterly earnings of $2.02 per share in its upcoming release, pointing to a year-over-year increase of 38.4%. It is anticipated that revenues will amount to $1.93 billion, exhibiting an increase of 24.8% compared to the year-ago quarter.The current level reflects a downward revision of 1.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collective ...

The market expects Northern Trust Corporation (NTRS) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expect ...

Core Viewpoint - The Federal Reserve's recent interest rate cuts are expected to enhance net interest income (NII) and net interest margin (NIM) for banks, particularly benefiting Northern Trust Corporation (NTRS) and its profitability outlook [3][11]. Interest Rate Impact - The Federal Reserve cut interest rates by 25 basis points, bringing the Fed funds rate to the 4.25-4.5% range, the same as December 2022, with expectations for two additional cuts in 2025 [3] - As interest rates decline, loan demand is anticipated to improve, leading to NII and NIM expansion, which is expected to enhance profitability for NTRS [4][11]. Financial Performance - Northern Trust's NII has shown a compound annual growth rate (CAGR) of 11.2% over the past three years, with NIM increasing from 0.96% in 2021 to 1.52% in 2023 [15] - Revenue growth has been steady, with a CAGR of 3.5% and continued momentum in the first nine months of 2024 [5]. Expense Management Initiatives - The company is implementing measures to improve operating leverage, including disciplined headcount management and process automation, which are expected to enhance productivity and financial targets [6][27]. Capital Distributions - Northern Trust has a share repurchase program and has repurchased approximately 8.1 million shares in the first nine months of 2024, with 13.3 million shares remaining under authorization [8][20]. - The company maintains a strong capital position, with a Common Equity Tier 1 ratio of 12.6% and a total capital ratio of 15.6% as of September 30, 2024 [9][21]. Strategic Partnerships - Northern Trust has formed strategic partnerships, including a recent agreement with Hamilton Lane, to enhance its service offerings and expand its customer base [18][29]. - The collaboration with CloudMargin aims to improve collateral management for institutional investors, showcasing the company's commitment to providing advanced solutions [29]. Stock Performance - Over the past three months, NTRS shares have increased by 10.6%, outperforming the industry growth of 4.2% and its peers, Comerica Incorporated (CMA) and Fifth Third Bancorp (FITB) [22]. Analyst Sentiment - The Zacks Consensus Estimate for NTRS' earnings for 2024 and 2025 has been revised upward, indicating positive analyst sentiment regarding the company's prospects [13][25].

Northern Trust Corporation (NTRS) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the sy ...

Northern Trust Corporation (NTRS) has launched an upgraded active collateral solution designed to help institutional investors manage their collateral more efficiently while addressing ever-changing market conditions.The solution was developed in conjunction with CloudMargin, a leading global collateral management technology provider, which will improve service capabilities, and increase real-time transparency and platform resiliency. The solution includes an automatic asset selection using configurable hie ...

It has been about a month since the last earnings report for Northern Trust Corporation (NTRS) . Shares have added about 6% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Northern Trust due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Northern Trust Q3 Earnings Beat ...

Northern Trust Corporation (NTRS) shares have gained 19.8% in the past six months, outperforming the industry’s growth of 17.4%. The stock has also outperformed its close peers like Comerica Incorporated (CMA) and Fifth Third Bancorp (FITB) in the same time frame.Six-Month Price PerformanceImage Source: Zacks Investment ResearchNorthern Trust Reports Strong Q3 Earnings PerformanceThe company recently reported its third-quarter 2024 earnings on Oct. 23. Its adjusted earnings per share of $1.96 surpassed the ...