Traders Eyeing Northern Trust Stock as Margins Near 5-Year High
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Northern Trust Corp.’s stock is leading the broader market on investors’ optimism that cost-cutting and higher interest rates will buoy the bank’s profits.
Shares of the Chicago-based company have outpaced the Standard & Poor’s 500 Index by almost 16 percentage points since Jan. 16, when the stock-price ratio sank to a three-year low -- see chart. Northern Trust’s stock closed at $74.64 on May 12, while the benchmark index was at 2,099.12.