As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the investment banking & brokerage industry, including Goldman Sachs (NYSE: GS) 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.

While some investment banking & brokerage stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4% since the latest earnings results.

Goldman Sachs (NYSE: GS)

Founded in 1869 as a small commercial paper business in New York City, Goldman Sachs (NYSE: GS) is a global financial institution that provides investment banking, securities, asset management, and consumer banking services to corporations, governments, and individuals.

Goldman Sachs reported revenues of $13.45 billion, down 3% year on year. This print exceeded analysts’ expectations by 0.5%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ efficiency ratio and EPS estimates.

Goldman Sachs delivered the slowest revenue growth of the whole group. The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $933.01.

Is now the time to buy Goldman Sachs? 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 an impressive 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 9.7% since reporting. It currently trades at $63.98.

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 9.4% since the results and currently trades at $9.53.

Read our full analysis of BGC’s results here.

Stifel (NYSE: SF)

Tracing its roots back to 1890 when the firm was established in St. Louis, Stifel Financial (NYSE: SF) is a financial services firm that provides wealth management, investment banking, and institutional brokerage services to individuals, corporations, and institutions.

Stifel reported revenues of $1.56 billion, up 14.4% year on year. This result topped analysts’ expectations by 2.9%. It was a strong quarter as it also recorded a decent beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

The stock is down 4.6% since reporting and currently trades at $120.48.

Read our full, actionable report on Stifel 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 surpassed analysts’ expectations by 2.8%. Overall, it was a very strong quarter as it also logged an impressive beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.

The stock is up 4.7% since reporting and currently trades at $74.88.

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

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