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RBC Capital downgrades Northern Trust despite strong Q2 earnings and asset growth

Analyst Insights
23 Jul 2026, 06:13 WIB
Gordon Thompson
View Source
Bearish
RBC Capital downgrades Northern Trust despite strong Q2 earnings and asset growth

RBC Capital downgraded Northern Trust Corporation from 'Outperform' to 'Sector Perform' on July 22, 2026, despite the company reporting strong Q2 results. Northern Trust's adjusted earnings per share rose 40% year-over-year to $2.97, beating estimates by 10.8%. The company also showed growth in Net Interest Income, Assets Under Custody, and Assets Under Management, with net income up 88%, partly due to a one-time Visa share gain. Northern Trust raised its dividend by 10%, but elevated expenses remain a concern for future performance.

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