Northern Trust reports Q4 EPS 52c, consensus $1.21

Reports Q4 revenue $1.56B, consensus $1.7B. Reports Q4 CET1 capital ratio 11.4%. Reports Q3 book value per share $53.69. The company said, “Northern Trust’s fourth quarter results capped off a solid year of progress made towards driving improved financial performance. In the fourth quarter, trust fee growth accelerated compared to the prior year, average deposit levels proved resilient, and credit quality remained strong. Importantly, we brought year-over-year expense growth, excluding notables, down in each quarter this year. We also improved our capital and liquidity levels while returning over $300 million in capital to shareholders. As we begin 2024, we are squarely focused on accelerating profitable organic growth, maintaining our expense discipline and driving greater resiliency and efficiency in our operating model to create sustained long-term shareholder value over time.”