As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the custody bank industry, including Northern Trust (NASDAQ: NTRS) 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 12.9% since the latest earnings results.

Northern Trust (NASDAQ: NTRS)

Founded in 1889 during Chicago's post-Great Fire rebuilding boom, Northern Trust (NASDAQ: NTRS) provides wealth management, asset servicing, and banking solutions to corporations, institutions, families, and high-net-worth individuals globally.

Northern Trust reported revenues of $2.16 billion, up 9.4% year on year. This print exceeded analysts’ expectations by 4.5%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

Unsurprisingly, the stock is down 4.9% since reporting and currently trades at $137.34.

Is now the time to buy Northern Trust? 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.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 7.6% since reporting. It currently trades at $15.29.

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 13.3% since the results and currently trades at $65.47.

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

Franklin Resources (NYSE: BEN)

Operating under the widely recognized Franklin Templeton brand since 1947, Franklin Resources (NYSE: BEN) is a global investment management organization that offers financial services and solutions to individuals, institutions, and wealth advisors worldwide.

Franklin Resources reported revenues of $1.75 billion, up 3.8% year on year. This number surpassed analysts’ expectations by 1.9%. Overall, it was an exceptional quarter as it also produced a beat of analysts’ EPS estimates and a decent beat of analysts’ revenue estimates.

The stock is down 6.9% since reporting and currently trades at $24.10.

Read our full, actionable report on Franklin Resources here, it’s free.

Cohen & Steers (NYSE: CNS)

Founded in 1986 as a pioneer in real estate investment trusts (REITs), Cohen & Steers (NYSE: CNS) is an investment manager specializing in real estate securities, infrastructure, real assets, and preferred securities for institutional and individual investors.

Cohen & Steers reported revenues of $143.8 million, up 2.9% year on year. This result met analysts’ expectations. However, it was a mixed quarter as it underperformed in some other aspects of the business.

The stock is down 9.3% since reporting and currently trades at $62.42.

Read our full, actionable report on Cohen & Steers here, it’s free.

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