Goldman Sachs Group Inc.’s stock was up 1.3% to $614 a share on Thursday, a record stock price for the investment bank, a day after its stronger-than-expected fourth-quarter profit.
If the gains hold through the session, it’ll be the first record close for Goldman Sachs stock since Nov. 29, when it ended the session at $608.57 a share, according to Dow Jones Market Data.
The stock has risen for four days in a row for its longest winning streak since Dec. 24, when it rose for four straight trading days
David Fanger, senior vice president at Moody’s Ratings, said Goldman’s results were boosted by a “strong operating environment, positive operating leverage and the absence of impairments and non-recurring charges which weakened last year’s results.”
On Thursday, Goldman beat EPS expectations by a wide margin, with Q4 results of $11.95 a share that were well ahead of the analyst estimate of $8.21 a share, according to FactSet data.
“We are very pleased with our strong results for the quarter and the year,” Chief Executive David Solomon said in a statement.