As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the investment banking & brokerage industry, including Charles Schwab (NYSE: SCHW) and its peers.

Investment banks and brokerages facilitate capital raises, mergers and acquisitions, and securities trading. The sector benefits from corporate activity during economic expansion, increased retail trading participation, and advisory opportunities in emerging sectors. Headwinds include economic cycle vulnerability affecting deal flow, compressed trading commissions due to electronic platforms, and regulatory capital requirements constraining certain higher-risk activities.

The 16 investment banking & brokerage stocks we track reported a very strong Q4. As a group, revenues beat analysts’ consensus estimates by 5.9% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 9.1% since the latest earnings results.

Charles Schwab (NYSE: SCHW)

Founded in 1971 as a disruptive force challenging Wall Street's high fees and limited access, Charles Schwab (NYSE: SCHW) is a wealth management and brokerage firm that provides investment services, banking, and financial advice to individual investors and independent advisors.

Charles Schwab reported revenues of $6.34 billion, up 18.9% year on year. This print fell short of analysts’ expectations by 0.6%. Overall, it was a mixed quarter for the company.

Unsurprisingly, the stock is down 5.5% since reporting and currently trades at $95.44.

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

Best Q4: Moelis (NYSE: MC)

Founded in 2007 by veteran banker Ken Moelis during the lead-up to the financial crisis, Moelis & Company (NYSE: MC) is an independent investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments, and sovereign wealth funds.

Moelis reported revenues of $487.9 million, up 11.2% year on year, outperforming analysts’ expectations by 10%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 16.7% since reporting. It currently trades at $59.08.

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

BGC (NASDAQ: BGC)

Tracing its roots back to 1945 and named after founder Bernard Gerald Cantor, BGC Group (NASDAQ: BGC) operates a global brokerage and financial technology platform that facilitates trading across fixed income, foreign exchange, equities, energy, and commodities markets.

BGC reported revenues of $723.3 million, up 32% year on year, falling short of analysts’ expectations by 3.7%. It was a slower quarter as it posted a miss of analysts’ revenue estimates.

BGC delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 12.9% since the results and currently trades at $9.83.

Read our full analysis of BGC’s results here.

Evercore (NYSE: EVR)

Founded in 1995 as a boutique advisory firm focused on independence and client trust, Evercore (NYSE: EVR) is an independent investment banking firm that provides strategic advisory, capital markets, and wealth management services to corporations, financial sponsors, and high-net-worth individuals.

Evercore reported revenues of $1.30 billion, up 32.4% year on year. This number surpassed analysts’ expectations by 16%. Overall, it was an incredible quarter as it also produced a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

The stock is down 7.1% since reporting and currently trades at $314.53.

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

Interactive Brokers (NASDAQ: IBKR)

Founded in 1977 and known for its sophisticated trading technology and global reach across 150+ exchanges in 34 countries, Interactive Brokers (NASDAQ: IBKR) is a global electronic broker that provides low-cost trading and investment services across stocks, options, futures, forex, bonds, and other financial instruments.

Interactive Brokers reported revenues of $1.67 billion, up 17.3% year on year. This print beat analysts’ expectations by 2.8%. It was a very strong quarter as it also recorded a solid beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.

The stock is flat since reporting and currently trades at $71.78.

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

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