Mega banks in gainers; payment processors, private credit managers among losers: week's financials wrap

[Old Fashioned Bank Sign]
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Wall Street ended the holiday-shortened week [https://seekingalpha.com/article/4888395-what-moved-markets-this-week] higher, as investors balanced a stronger-than-expected March jobs report [https://seekingalpha.com/news/4572432-nonfarm-payrolls-jump-past-consensus-in-march-unemployment-rate-ticks-down] with rising geopolitical tensions that pushed oil prices sharply higher.

State Street Financial Sel Sec SPDR ETF (XLF [https://seekingalpha.com/symbol/XLF]) added 3.60% during the week, against the broader S&P 500's (SP500 [https://seekingalpha.com/symbol/SP500]) 3.36% jump.

Among the megacap financial stocks, HSBC Holdings (HSBC [https://seekingalpha.com/symbol/HSBC]) led the weekly gainers for the second straight week [https://seekingalpha.com/news/4569922-crypto-stocks-in-top-losers-hsbc-among-gainers-weeks-financials-wrap], adding 6.00% week-over-week to close at $84.41.

Goldman Sachs (GS [https://seekingalpha.com/symbol/GS]) (+4.91% W/W to $863.04), Citigroup (C [https://seekingalpha.com/symbol/C]) (+2.53% W/W to $115.25), Bank of America (BAC [https://seekingalpha.com/symbol/BAC]) (+2.36% W/W to $49.38), and Wells Fargo (WFC [https://seekingalpha.com/symbol/WFC]) (+2.00% W/W to $80.60) followed.

U.S. bank stocks climbed again this week, with analysts predicting the sector will report strong quarterly earnings despite macroeconomic headwinds.

Piper Sandler analysts said in a research note that they expect [https://www.capitaliq.spglobal.com/apisv3/spg-webplatform-core/news/article?id=100370587] the industry to report solid loan growth and capital markets and investment banking performance. Additionally, banks are expected to have solid credit quality and capital to deploy, according to S&P Global Market Intelligence.

For the losers, Visa (V [https://seekingalpha.com/symbol/V]) (-1.55% W/W to $300.80) and Mastercard (MA [https://seekingalpha.com/symbol/MA]) (-1.46% W/W to $493.44) led the pack.

Payments processing and financial brokerage stocks are said to have [https://blinks.bloomberg.com/news/stories/TCTLBMKJH6V4] faced a sharp sell-off in 2026 on the back of the so-called AI scare trade [https://seekingalpha.com/article/4885059-buy-the-dip-top-tech-stocks-after-the-pullback].

"A new beginning could materialize in the 2H26/2027 if investors believe once again that the stability in revenue growth, and thus EPS growth, for the space is dependable," said [https://seekingalpha.com/news/4570806-loop-capital-initiates-coverage-of-seven-fintech-payment-stocks] Loop Capital in a research note.

Rocket Companies (RKT [https://seekingalpha.com/symbol/RKT]) was among the notable largecap gainers of the week, adding 7.24% from the prior week to close at $14.96. Recently, the stock was initiated with a Market Perform rating at Citizens.

Ironically, RKT was featured among the most oversold financial stocks [https://seekingalpha.com/news/4564816-most-oversold-financial-stocks-above-10b-on-wall-street-amid-middle-east-disruptions] amid the Middle East disruptions, based on momentum indicators.

Crypto stocks led the largecap losers, with Circle Internet Group (-8.15% W/W to $90.26) and IREN (IREN [https://seekingalpha.com/symbol/IREN]) (-7.16% to $34.77) among the significant decliners.

This week, Coinbase's (COIN [https://seekingalpha.com/symbol/COIN]) chief legal officer, Paul Grewal, reportedly had said [https://seekingalpha.com/news/4571848-coinbase-clo-sees-clarity-act-in-48-hours-will-btc-break-or-shake] that a deal on the Clarity Act, especially around stablecoin yields, could be finalized soon. The latest version of the legislation in Congress is expected to narrowly limit [https://seekingalpha.com/news/4567937-circle-internet-stock-sinks-as-clarity-draft-reportedly-puts-strict-limits-on-stablecoin-yields] rewards on stablecoins.

Reports that the Clarity Act could ban yield payments on passive stablecoin holdings shook [https://seekingalpha.com/news/4568650-how-stablecoin-yield-restrictions-could-affect-circle-coinbase] some crypto stocks.

Ares Management (ARES [https://seekingalpha.com/symbol/ARES]) (-5.09% W/W to $102.43) and Blue Owl Capital (OWL [https://seekingalpha.com/symbol/OWL]) (-4.99% W/W to $8.57) followed, amid media reports [https://seekingalpha.com/news/4571065-lawmakers-probe-blackstone-ares-and-peers-over-private-credit-practices-report] about lawmakers probing Wall Street's largest private credit firms over how they market, value, and manage the asset class.

Furthermore, Blue Owl Capital's investor letters showed that it is curbing withdrawals [https://seekingalpha.com/news/4572150-blue-owl-capital-curbs-redemption-at-two-more-private-credit-funds] from two more of its funds after a surge in redemption requests.

Among midcap stocks, FactSet (FDS [https://seekingalpha.com/symbol/FDS]) (+16.00% W/W to $227.68) was the top performer. The financial digital platform reported an outright fiscal second-quarter beat [https://seekingalpha.com/news/4570578-factset-research-systems-non-gaap-eps-of-4_46-beats-by-0_08-revenue-of-611m-beats-by-6_05m] in terms of earnings and revenue.

Crypto-linked stock Galaxy Digital (GLXY [https://seekingalpha.com/symbol/GLXY]) (-10.05% W/W to $17.64) led the losers in the category.

For smallcap stocks, Burford Capital (BUR [https://seekingalpha.com/symbol/BUR]) extended losses [https://seekingalpha.com/news/4569922-crypto-stocks-in-top-losers-hsbc-among-gainers-weeks-financials-wrap] from the prior week, with the stock plunging after Argentina won a reversal of a decision [https://seekingalpha.com/news/4569856-burford-capital-plunges-after-argentina-wins-reversal-in-ypf-case] in a YPF (YPF) case on appeal.

This week, Ethos Technologies (LIFE [https://seekingalpha.com/symbol/LIFE]) advanced the most in the category.

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