State Street (STT), Franklin Resources (BEN) Rise on Q1 Custody Bank Earnings Beats

Custody bank stocks reported strong first-quarter 2026 results, with aggregate revenues exceeding analyst consensus by 2.5%, led by State Street Corp. (NYSE:STT) and Franklin Resources Inc. (NYSE:BEN). State Street posted revenue of $3.80 billion, up 15.6% from a year earlier and 3.3% above estimates. Franklin Resources’ revenue climbed 8.7% to $2.29 billion, beating forecasts by 11.8%. State Street shares rose 13% following the report to close at $160.40 on May 29. Franklin Resources stock jumped 13.3% to $31.23. BNY (NYSE:BNY) also topped expectations with a 13.8% revenue increase to $5.41 billion, while Hamilton Lane (NASDAQ:HLNE) was the group’s weakest performer, posting a 2.2% revenue decline to $193.6 million, missing estimates. The sector’s average share price gained 3.7% since earnings.