Custody Banks' Q4: Beat Estimates, Lose Stock Value
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Custody banks, including BNY Mellon and WisdomTree, reported solid Q4 earnings, beating revenue estimates, but their shares fell due to fee squeezes, tech expenses, and fintech competition. Despite growth from global assets and blockchain, Voya Financial and Cohen and Steers missed earnings expectations, while SEI Investments missed on assets under management. Investor sentiment remains cautious amid broader concerns, but these stocks could rebound as market conditions stabilize.
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