As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the custody bank industry, including State Street (NYSE: STT) and its peers.

Custody banks safeguard financial assets and provide services like settlement, accounting, and regulatory compliance for institutional investors. Growth opportunities stem from increasing global assets under custody, demand for data analytics, and blockchain technology adoption for settlement efficiency. Challenges include fee pressure from large clients, substantial technology investment requirements, and competition from both traditional players and fintech firms entering the space.

The 16 custody bank stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 2.4%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 6.4% since the latest earnings results.

State Street (NYSE: STT)

Dating back to 1792 when Boston's Long Wharf was the center of global shipping and trade, State Street (NYSE: STT) provides custody, investment management, and other financial services to institutional investors like pension funds, asset managers, and central banks worldwide.

State Street reported revenues of $3.67 billion, up 7.5% year on year. This print exceeded analysts’ expectations by 1.5%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ AUM estimates and a beat of analysts’ EPS estimates.

Unsurprisingly, the stock is down 7.9% since reporting and currently trades at $125.53.

Is now the time to buy State Street? Access our full analysis of the earnings results here, it’s free.

Best Q4: WisdomTree (NYSE: WT)

Originally founded as a financial media company before pivoting to ETF management in 2006, WisdomTree (NYSE: WT) is a financial services company that creates and manages exchange-traded funds (ETFs) and other investment products for individual and institutional investors.

WisdomTree reported revenues of $147.4 million, up 33.4% year on year, outperforming analysts’ expectations by 3%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 6% since reporting. It currently trades at $17.54.

Is now the time to buy WisdomTree? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Voya Financial (NYSE: VOYA)

Originally spun off from Dutch financial giant ING in 2013 and rebranded with a name suggesting "voyage," Voya Financial (NYSE: VOYA) provides workplace benefits and savings solutions to U.S. employers, helping their employees achieve better financial outcomes through retirement plans and insurance products.

Voya Financial reported revenues of $2.01 billion, up 5.7% year on year, in line with analysts’ expectations. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates and revenue in line with analysts’ estimates.

As expected, the stock is down 6.1% since the results and currently trades at $70.94.

Read our full analysis of Voya Financial’s results here.

Federated Hermes (NYSE: FHI)

With roots dating back to 1955 and a pioneering role in money market funds, Federated Hermes (NYSE: FHI) is an investment management firm that offers a wide range of funds and strategies for institutional and individual investors.

Federated Hermes reported revenues of $482.8 million, up 13.7% year on year. This result topped analysts’ expectations by 2.2%. It was a very strong quarter as it also produced a beat of analysts’ EPS estimates and a decent beat of analysts’ revenue estimates.

The stock is up 7.8% since reporting and currently trades at $57.18.

Read our full, actionable report on Federated Hermes here, it’s free.

SEI Investments (NASDAQ: SEIC)

Founded in 1968 as Simulated Environments Inc. to train bank loan officers using computer simulations, SEI Investments (NASDAQ: SEIC) provides technology platforms, investment management, and operational solutions for financial institutions, wealth managers, and investors.

SEI Investments reported revenues of $607.9 million, up 9.1% year on year. This number surpassed analysts’ expectations by 1.4%. Zooming out, it was a satisfactory quarter as it also recorded a narrow beat of analysts’ revenue estimates but a significant miss of analysts’ AUM estimates.

The stock is down 4.5% since reporting and currently trades at $82.20.

Read our full, actionable report on SEI Investments here, it’s free.

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