Let’s dig into the relative performance of T. Rowe Price (NASDAQ: TROW) and its peers as we unravel the now-completed Q4 custody bank earnings season.

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 11% since the latest earnings results.

T. Rowe Price (NASDAQ: TROW)

Founded in 1937 by Thomas Rowe Price Jr., who pioneered the growth stock investing approach, T. Rowe Price (NASDAQ: TROW) is an investment management firm that offers mutual funds, advisory services, and retirement planning solutions to individuals and institutions.

T. Rowe Price reported revenues of $1.94 billion, up 5.4% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company.

Unsurprisingly, the stock is down 13% since reporting and currently trades at $89.29.

Read our full report on T. Rowe Price 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 and EBITDA estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 9.3% since reporting. It currently trades at $15.

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 9.7% since the results and currently trades at $68.22.

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 print surpassed analysts’ expectations by 0.7%. It was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates.

The stock is down 2.5% since reporting and currently trades at $117.63.

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

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 number topped analysts’ expectations by 4.5%. It was a strong quarter as it also put up an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

The stock is down 3.2% since reporting and currently trades at $139.76.

Read our full, actionable report on Northern Trust 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.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.