Financial Stocks Narrowly Mixed


Financial stocks were slightly mixed Wednesday afternoon, with the NYSE Financial Sector Index declining about 0.1% while financial companies in the S&P 500 Index were climbing nearly 0.3%.

In company news, Northern Trust (NTRS) shares fell Wednesday after the asset management and financial services company reported improved Q4 financial results compared with year-ago levels but still narrowly trailed analyst projections for the period.

The company earned $1.11 per share during the three months ended Dec. 31, up from $0.99 during the same period last year ago but still shy of the $1.12 per share consensus estimate of $1.12 from analysts polled by Capital IQ.

Total revenues rose 7.8% over year-ago levels to $1.25 billion, also falling short of Wall Street projections looking for $1.26 billion.

NTRS shares were down 5% at $83.75 apiece, recovering somewhat from an earlier slide to a session low of $83.48 a share.