Latest revenue
$2.21B
as of 2026-03-31
Latest net income
$525.5M
as of 2026-03-31
Net margin
23.8%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $31.05B
- Enterprise value
- $28.57B
- P/E (trailing)
- 17.9×
- Forward P/E
- —
- P/B
- 2.39×
- Dividend yield
- 1.9%
- 52-wk high
- $173.19
- 52-wk low
- $104.99
- Beta
- —
- Shares out
- 185.0M
5-year trend
What this company does
Northern Trust is a global custody bank and wealth manager that safeguards assets, administers investments, and provides private banking for institutions, asset managers, and wealthy families. It earns most of its revenue from trust, investment, and servicing fees—$1.34 billion last quarter—supplemented by net interest income on its $174 billion balance sheet. First-quarter 2026 net income jumped 34% year-over-year to $526 million as fee growth, FX trading, and wider net interest margins outpaced expense increases.
Generated from NTRS's filing dated 2026-02-24
Key risks
- HTM securities carry $1.15B unrealized loss ($24.3B amortized cost vs $23.1B fair value), constraining liquidity if forced to sell.
- Deposit outflows of $3.1B in Q1 2026, driven by $4.2B decline in non-U.S. interest-bearing deposits, pressuring funding base.
- AOCI loss widened to $636.6M from $590.5M as AFS securities lost $44.6M; rate moves continue eroding tangible book value.
Generated from NTRS's filing dated 2026-02-24
Profitability
Net margin
12.1%
5.1%Return on equity
13.6%
14.5%Return on assets
7.4%
18.6%Leverage
Debt / equity
0.83×
11.9%Long-term debt / equity
0.26×
21.0%Debt / assets
45.4%
6.5%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $2.21B | +13.7% | $525.5M | +34.1% | 23.8% |
Q4 2025 2025-12-31 | $6.59B | -17.3% | $466.0M | +2.3% | 7.1% |
Q3 2025 2025-09-30 | $3.20B | +6.1% | $457.6M | -1.6% | 14.3% |
Q2 2025 2025-06-30 | $2.57B | -20.9% | $421.3M | -53.0% | 16.4% |
Q1 2025 2025-03-31 | $1.94B | +17.8% | $392.0M | +82.6% | 20.2% |
Q4 2024 2024-12-31 | $7.97B | — | $455.4M | — | 5.7% |
Q3 2024 2024-09-30 | $3.02B | +9.0% | $464.9M | +41.8% | 15.4% |
Q2 2024 2024-06-30 | $3.24B | +41.7% | $896.1M | +170.1% | 27.6% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
State Commercial Banks · SIC 6022
Your notes
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Insider activity
Insider buying
$790.4K
Insider selling
$17.7M
Net activity
−$16.9M
Distinct insiders
11
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns NTRS
Institutional value
$11.65B
Total shares held
86.6M
Distinct holders
674
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 14.4M | $2.01B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 11.8M | $1.64B | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 8.4M | $1.18B | — | New |
| 4 | PRIMECAP MANAGEMENT CO/CA/ | 6.5M | $914.0M | — | New |
| 5 | STATE FARM MUTUAL AUTOMOBILE INSURANCE CO | 4.1M | $578.5M | — | New |
| 6 | Invesco Ltd. | 3.5M | $490.5M | — | New |
| 7 | DIMENSIONAL FUND ADVISORS LP | 2.5M | $342.7M | — | New |
| 8 | Bank of New York Mellon Corp | 2.0M | $284.2M | — | New |
| 9 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1.6M | $217.1M | — | New |
| 10 | Robeco Institutional Asset Management B.V. | 1.4M | $201.1M | — | New |
| 11 | Legal & General Group Plc | 1.3M | $187.9M | — | New |
| 12 | JUPITER ASSET MANAGEMENT LTD | 1.1M | $146.7M | — | New |
| 13 | VANGUARD FIDUCIARY TRUST CO | 1.0M | $145.3M | — | New |
| 14 | UBS Group AG | 979.3K | $136.7M | — | New |
| 15 | DEUTSCHE BANK AG\ | 969.2K | $135.3M | — | New |
| 16 | Eurizon Capital SGR S.p.A. | 936.9K | $130.1M | — | New |
| 17 | FIRST TRUST ADVISORS LP | 855.8K | $119.5M | — | New |
| 18 | CONFLUENCE INVESTMENT MANAGEMENT LLC | 680.3K | $94.9M | — | New |
| 19 | FEDERATED HERMES, INC. | 676.5K | $94.4M | — | New |
| 20 | PRUDENTIAL FINANCIAL INC | 628.5K | $87.7M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Deposits fell $3.1B QoQ to $139.7B while you bought $3B more AFS securities—are you betting on duration just as deposit attrition accelerates?
- 2
Compensation jumped 9% YoY to $822M, outpacing the 13% revenue growth's operating leverage—what's driving it and is this run-rate sustainable?
- 3
HTM securities show a $1.15B unrealized loss versus amortized cost—what's the AOCI impact if you were forced to reclassify amid further deposit outflows?
Refreshed when NTRS files a new report · last from 2026-02-24