Northern Trust Confusion

Northern Trust Open

Image by ikelee via Flickr

Northern Trust (NTRS) report Q3 results and showed investors that they have slipped a notch or two. I am a simple guy. Northern Trust is 75% assets under administration and custodial services. Both those business grew by 8% and 10% respectively. They still laid an egg and managed to decrease EPS. Ergo the other business lines are not performing.

Frederick H. Waddell, Chairman and Chief Executive Officer refers to the assets under adminstration and custody services and just says the market is challenging. Not a fully transparent comment.

Disclosure: George Gutowski writes from a caveat emptor perspective. I hold no positions in stocks mentioned in this post.