Northern Trust Corp. (NASDAQ:NTRS) is expected to report Q3 earnings before market open Wednesday, October 22, with a conference call scheduled for 12:00 Noon.
Analysts are looking for EPS of 39c on revenue of $946.01M. The consensus range for EPS is (50c) to $1.15, while the consensus range for revenue is $540.3M to $1.06BB, according to First Call. At the end of September the bank said it would take a $328M charge because of various steps it was taking to ensure that investors in its money market funds don't lose any of their investments.
The bank has submitted a proposal in partnership with NYSE Euronext (NYSE:NYX) to manage the government's $700B bailout fund, Crain's reported on October 10. Northern Trust investors will want to confirm this report tomorrow, and find out how much Northern Trust believes it can earn if it wins the contract.
Sandler O'Neill recently upgraded the bank to Hold from Sell.