Northern Trust Q4 Profit Rises - Quick Facts

(RTTNews) - Northern Trust Corp. (NTRS) reported that its fourth-quarter net earnings allocated to common and potential common shares were $230.7 million or $0.98 per share, compared with $167.0 million or $0.70 per share in the comparable quarter last year.

Excluding the income tax benefit, net income per share in the current quarter was $0.94 and excluding the legal settlement charge, net income per share in the prior year quarter was $0.75. On average, eighteen analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share for the latest quarter. Analysts' estimates typically exclude special items.

Total revenue for the latest fourth quarter rose 8 percent to $1.13 billion from $1.05 billion in the previous-year quarter. Wall Street analysts had a consensus revenue estimate of $1.10 billion for the quarter.

Non-interest income increased 9% to $866.2 million from the prior year quarter's $795.3 million, primarily reflecting higher trust, investment and other servicing fees, foreign exchange trading income and security commissions and trading income as compared to the prior year quarter. Net interest income on a fully taxable equivalent or FTE basis increased 5% to $270.9 million compared to $259.1 million in the prior year quarter, due to higher levels of earning assets, partially offset by a decrease in the net interest margin.