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 Hamilton Lane (NASDAQ: HLNE) 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 2.5%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 8.7% since the latest earnings results.
Hamilton Lane (NASDAQ: HLNE)
With over $100 billion in assets under management and supervision, Hamilton Lane (NASDAQ: HLNE) is an investment management firm that specializes in private markets, offering advisory services and fund solutions to institutional and private wealth investors.
Hamilton Lane reported revenues of $198.6 million, up 18% year on year. This print exceeded analysts’ expectations by 2.4%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EBITDA and EPS estimates.
The stock is down 31.3% since reporting and currently trades at $97.08.
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 and EBITDA estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 5.8% since reporting. It currently trades at $15.58.
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 7.8% since the results and currently trades at $69.66.
Read our full analysis of Voya Financial’s results here.
BNY (NYSE: BK)
Tracing its roots back to 1784 when it was founded by Alexander Hamilton, BNY (NYSE: BK) is a global financial institution that provides asset servicing, wealth management, and investment services to institutions, corporations, and high-net-worth individuals.
BNY reported revenues of $5.18 billion, up 6.8% year on year. This number topped analysts’ expectations by 0.7%. Overall, it was a satisfactory quarter as it also recorded a beat of analysts’ EPS estimates.
The stock is up 6% since reporting and currently trades at $127.92.
Read our full, actionable report on BNY here, it’s free.
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 result surpassed analysts’ expectations by 1.9%. Overall, it was an exceptional quarter as it also produced a beat of analysts’ EPS and revenue estimates.
The stock is down 3.3% since reporting and currently trades at $25.04.
Read our full, actionable report on Franklin Resources here, it’s free.
Market Update
Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?
These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.
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