Mar 09, 2022 / 07:00PM GMT
Gerard Sean Cassidy - RBC Capital Markets, Research Division - MD, Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst
Good afternoon, everybody. This is Gerard Cassidy with RBC Capital Markets, and I want to welcome everyone to our financial institutions conference. With us today, we're very fortunate to have Northern Trust. Most of us know Northern Trust as obviously one of the premier banks. I always remind investors that during the financial crisis, there was only 2 -- of the top 20 banks, there's only 2 large banks that did not cut or eliminate the dividend and Northern Trust is one of those banks. It just shows you the strength of this organization during volatile times and that's important to note in considering what we're seeing today.
The company has about $18 trillion under custody. Its market cap is just over $22 billion and it trades about 2x -- a little bit over 2x book value and has a dividend yield that's about 2.6%. Many of you know Jason Tyler, who is the CFO. He's been with the organization a number of years. Thank you for joining us. And currently, as I said, he is
Northern Trust Corp at RBC Capital Markets Financial Institutions Conference (Virtual) Transcript
Jan 23, 2024
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