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Northern Trust Corp. (NASDAQ:NTRS) is expected to report Q3 earnings before the market open on Wednesday, October 21 with a conference call scheduled for 12 noon ET.

Guidance

Analysts are looking for EPS of 83c on revenue of $984.64M. The consensus range is 69c-$1.00 for EPS, and $944M-$1.06B for revenue, according to First Call. Northern Trust investors may be encouraged by the better than expected Q3 EPS and revenue reported by Bank of New York Mellon (NYSE:BK), which, like Northern Trust, is a trust bank.

Analyst Views

Rochdale Securities analyst Richard Bove, in an interview last month with CNBC, named Northern Trust as one of three banks whose stocks he would own. Northern Trust is a "wealth bank" that will definitely generate pretax earnings over the next six months, Bove explained. Conversely, Goldman Sachs recently said that J.P. Morgan reported weak trust revenues. As a result, Goldman Sachs views trust banks cautiously. Last month Goldman Sachs lowered its view of the trust banking sector, as the firm predicted that trust banks would be hurt by low interest rates. However, the firm thinks that Northern Trust is the best bet in the sector, due partly to its strong private client fees. The firm maintained a Buy rating on the stock.

Source: Earnings Preview: Northern Trust Corp.