Goldman Sachs Group Inc. (GS) stock closed at $875.68 on Oct. 23, 2026, its lowest close since April 7 and 24.0% below its July 15 record close. JPMorgan Chase & Co. (JPM) ended 9.2% below its Aug. 12 record close, leaving Goldman about 15 percentage points further from its high.
Goldman fell 1.75% from its Oct. 22 close of $891.30, and JPMorgan fell 1.47% to $331.58. The gap between the two stocks' declines from their record closes peaked at 16.5 points on Oct. 16.
Of eight large U.S. bank and brokerage stocks, only U.S. Bancorp (USB) is closer to its highest close of the past 52 weeks than JPMorgan.
Why is Goldman Sachs stock down from its record?
Neither bank's filings since its Oct. 13 third-quarter results give a reason for the decline. They do show different revenue mixes: net interest income, or interest earned minus interest paid, was about 20% of Goldman's $18.68 billion in net revenues, according to its earnings release, versus about 53% of JPMorgan's $50.9 billion in managed revenue, the bank reported.
What did Goldman Sachs and JPMorgan report for the third quarter?
Goldman earned $17.01 a share, up 39% from a year earlier. Net revenues rose 23% but fell 8% from the second quarter. Net revenues from equities, its stock trading and financing business, rose 72% to $6.44 billion, and advisory fees hit a record $1.65 billion, its earnings presentation showed. Goldman said its backlog of expected investment banking fees fell from the end of the second quarter, and the money it set aside for possible loan losses rose to $368 million from $102 million.
JPMorgan reported net income of $15.3 billion, or $5.57 a share, as managed revenue rose 8%. It added $539 million to its reserves for possible loan losses and said it bought back less of its own stock.
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Sources: Goldman Sachs, Q3 2026 earnings release and presentation, Oct. 13, 2026; JPMorgan Chase, Q3 2026 earnings release, Oct. 13, 2026; Financial Modeling Prep, daily prices for GS, JPM, BAC, MS, SCHW, C, PNC and USB through the Oct. 23, 2026, close, cross-checked with Yahoo Finance and Nasdaq.com.
Silvia News is for information only and is not investment advice.
