Northern Trust Q3 EPS $3.40, Up 48% YoY; Dividend Raised to $0.88
NTRS sits 35% above its 52-week low of $121.53.
Summary
Northern Trust earned $3.40 per diluted share in Q3 2026, up 48% from a year ago, on 11% revenue growth excluding notable items and over 600 bps of positive operating leverage. The dividend rose to $0.88 per quarter, and 4Q guidance calls for 6-7% revenue growth.
Key Events · Earnings and Guidance · NTRS
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Q3 EPS $3.40, Up 48% YoY
Net income came in at $642.9M versus $457.6M a year ago, and diluted EPS at $3.40 versus $2.29. The 19% sequential decline reflects Q2's $525.4M Visa gain, not operating deterioration.
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Core Growth With Operating Leverage
Excluding notable items, revenue rose 11% and EPS 40% year over year while expenses grew 5%, producing more than 600 bps of positive operating leverage and a 34.9% pre-tax margin.
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Dividend Raised, $352M Buyback
The quarterly common dividend increased to $0.88 from $0.80; 1,901,679 shares were repurchased for $352.3M at a $185.27 average price, part of $514.2M returned to common holders in the quarter.
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4Q Guidance: 6-7% Revenue Growth
Management guided 4Q 2026 net interest income growth of 8-9% and total revenue growth of 6-7% versus 4Q 2025, with positive operating leverage and more than 500 bps for full-year 2026.
Analysis · NTRS · Finance
The core franchise is compounding faster than expenses: excluding notable items, revenue grew 11% and EPS 40% year over year, with more than 600 bps of positive operating leverage. Headline net income of $642.9M fell 19% sequentially only because Q2 carried a $525.4M Visa Exchange Offer gain; this quarter's $48.7M of notable gains are far smaller. Management also raised the quarterly dividend to $0.88 from $0.80 and guided 4Q revenue growth of 6-7% with positive operating leverage, so the earnings power that drove the stock is intact rather than deteriorating.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 29.2% of the 1544 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NTRS was trading at $164.28 on NASDAQ in the Finance sector, with a market capitalization of approximately $30.3B. The 52-week trading range was $121.53 to $195.78. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.