Core Insights - Northern Trust's stock has increased by 9.61% since the last coverage on October 24, 2024, driven by strong 4th quarter results and external factors related to the election [1] Financial Performance - The company recently announced strong 4th quarter results, contributing to the positive stock performance [1] Market Context - The stock's rise is influenced by broader market conditions, particularly the recent election [1]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Northern Trust Corporation (NTRS) - NTRS currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The company has a Zacks Rank of 1 (Strong Buy), suggesting a favorable outlook based on historical performance metrics [4] Performance Metrics - Over the past week, NTRS shares increased by 3.79%, outperforming the Zacks Banks - Major Regional industry, which rose by 1.29% [6] - In a longer timeframe, NTRS shares have appreciated by 10.91% over the past quarter and 39.02% over the last year, compared to the S&P 500's gains of 4.45% and 25.58%, respectively [7] - The average 20-day trading volume for NTRS is 1,049,163 shares, indicating a bullish trend when combined with rising stock prices [8] Earnings Outlook - In the last two months, five earnings estimates for NTRS have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $7.82 to $8.20 [10] - For the next fiscal year, three estimates have also moved upwards, further supporting a positive earnings outlook [10] Conclusion - Given the strong performance metrics and positive earnings revisions, NTRS is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a compelling investment option [12]

Investors might want to bet on Northern Trust Corporation (NTRS) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and follow ...

Financial Data and Key Metrics Changes - The fourth quarter earnings press release and financial trends report are available on the company's website, indicating a structured approach to financial reporting [4] - The company emphasizes the importance of its safe harbor statement regarding forward-looking statements, which reflects a cautious outlook on future performance [5] Business Line Data and Key Metrics Changes - Specific details regarding changes in various business lines were not provided in the available content Market Data and Key Metrics Changes - Information on market data and key metrics changes was not included in the provided content Company Strategy and Development Direction and Industry Competition - The company is focused on maintaining transparency and providing comprehensive financial information to stakeholders, which is crucial in a competitive financial services industry [4][5] Management's Comments on Operating Environment and Future Outlook - Management has not yet provided specific comments on the operating environment or future outlook in the available content Other Important Information - The conference call is being recorded and will be available for replay on the company's website, ensuring that stakeholders can access the information at their convenience [5] Q&A Session Summary - The initial query during the Q&A session is limited to one question per participant, indicating a structured approach to managing inquiries [6]

Northern Trust Corporation’s (NTRS) fourth-quarter 2024  adjusted earnings per share (EPS) of $2.26 surpassed the Zacks Consensus Estimate of $2.02. In the prior-year quarter, the company reported earnings per share of 52 cents. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.For 2024, adjusted EPS was $9.78, which beat the Zacks Consensus Estimate of $7.56. This compares unfavorably with $5.1 reported in the year-ago quarter.NTRS results benefited from a rise in net interest income ...

For the quarter ended December 2024, Northern Trust Corporation (NTRS) reported revenue of $1.96 billion, up 26.8% over the same period last year. EPS came in at $2.26, compared to $1.46 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.93 billion, representing a surprise of +1.58%. The company delivered an EPS surprise of +11.88%, with the consensus EPS estimate being $2.02.While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

Northern Trust Corporation (NTRS) came out with quarterly earnings of $2.26 per share, beating the Zacks Consensus Estimate of $2.02 per share. This compares to earnings of $1.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.88%. A quarter ago, it was expected that this company would post earnings of $1.73 per share when it actually produced earnings of $1.96, delivering a surprise of 13.29%.Over the last four quarters, t ...

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].