On April 17, Northern Trust
- Earnings per share grew 14% to $0.84 and beat analyst estimates by $0.05.
- Growth was robust across the board: Revenue grew 11%, assets under custody grew 20%, global custody assets grew 30% to $1.8 trillion, and assets under management grew 16% to $756 billion.
- The industry has been consolidating -- Bank of New York
(NYSE:BK) and Mellon Financial recently merged, and State Street(NYSE:STT) and Investors Financial Services(NASDAQ:IFIN) also hooked up -- which could present opportunities for Northern Trust.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Total Revenue |
$824 |
$743 |
10.9% |
|
Net Interest Income |
$210 |
$191 |
10.3% |
|
Net Profit |
$187 |
$163 |
14.5% |
|
EPS |
$0.84 |
$0.74 |
13.5% |
Get back to basics with the income statement.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Money Market Accounts |
$19,542 |
$12,821 |
52.4% |
|
Securities- HTM |
$12,557 |
$11,125 |
12.9% |
|
Loans and Leases |
$21,658 |
$20,041 |
8.1% |
|
Total Earning Assets |
$53,757 |
$43,986 |
22.2% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Interest-Bearing Funds |
$46,369 |
$37,500 |
23.7% |
|
Noninterest-Bearing Deposits |
$6,441 |
$6,633 |
(2.9%) |
Learn about bank assets and bank liabilities.
Ratio Checkups
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Return on Average Assets |
1.33% |
1.33% |
0.00% |
|
Return on Average Equity |
19.21% |
18.22% |
0.99% |
Related Foolishness:
- Northern Trust: Gloss and Grit
- A Wealth of Data From Northern Trust: Fool by Numbers
- US Bancorp Finishes Strong: Fool by Numbers
Fool contributor Emil Lee is an analyst and a disciple of value investing. He doesn't own shares in any of the companies mentioned above. Emil appreciates your comments, concerns, and complaints. The Motley Fool has a disclosure policy.
