Northern Trust reports Q2 EPS $2.13, consensus $2.10

Reports Q2 revenue $2B, consensus $1.96B. Reports Q2 CET1 capital ratio 12.2%. “Northern Trust (NTRS) reported another quarter of strengthening results, featuring mid-single digit trust fee growth, record net interest income, and meaningful expansion in our pretax margin, all of which drove a 20% increase in our earnings per share, excluding notables in the prior period. The second quarter marks our fourth consecutive quarter of generating year-over-year improvement in our expense-to-trust fee ratio and delivering both positive trust fee operating leverage and overall operating leverage, all excluding notables. During this period, we have also returned over 100% of our earnings, including record share repurchases this quarter. Yesterday, our Board of Directors approved a $0.05 or 7% increase to our quarterly dividend.”