CNB Bank Decreases Stock Position in Morgan Stanley $MS

CNB Bank reduced its position in Morgan Stanley (NYSE:MS) by 4.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,319 shares of the financial services provider’s stock after selling 192 shares during the quarter. CNB Bank’s holdings in Morgan Stanley were worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Meridian Wealth Management LLC grew its stake in Morgan Stanley by 34.3% in the 1st quarter. Meridian Wealth Management LLC now owns 23,869 shares of the financial services provider’s stock valued at $2,785,000 after buying an additional 6,092 shares in the last quarter. Headlands Technologies LLC purchased a new position in Morgan Stanley in the 1st quarter valued at approximately $57,000. AGF Management Ltd. boosted its holdings in Morgan Stanley by 55.9% in the 1st quarter. AGF Management Ltd. now owns 327,978 shares of the financial services provider’s stock valued at $38,265,000 after purchasing an additional 117,615 shares during the period. Tlwm boosted its holdings in Morgan Stanley by 1.8% in the 1st quarter. Tlwm now owns 13,863 shares of the financial services provider’s stock valued at $1,617,000 after purchasing an additional 248 shares during the period. Finally, Alley Investment Management Company LLC boosted its holdings in Morgan Stanley by 75.0% in the 1st quarter. Alley Investment Management Company LLC now owns 62,469 shares of the financial services provider’s stock valued at $7,288,000 after purchasing an additional 26,763 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on MS shares. Barclays raised their price target on shares of Morgan Stanley from $156.00 to $183.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Wells Fargo & Company lifted their price objective on shares of Morgan Stanley from $165.00 to $177.00 and gave the stock an “equal weight” rating in a report on Thursday, October 16th. Evercore ISI lifted their price objective on shares of Morgan Stanley from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Morgan Stanley from $176.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Citigroup lifted their price objective on shares of Morgan Stanley from $155.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.23.

Morgan Stanley Price Performance

Shares of NYSE:MS opened at $163.78 on Friday. The company’s fifty day moving average is $154.69 and its 200 day moving average is $138.87. Morgan Stanley has a 52 week low of $94.33 and a 52 week high of $166.77. The stock has a market cap of $261.45 billion, a PE ratio of 16.80, a PEG ratio of 1.65 and a beta of 1.32. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 3.30.

Morgan Stanley (NYSE:MS) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.73. Morgan Stanley had a net margin of 13.85% and a return on equity of 16.55%. The firm had revenue of $18.22 billion for the quarter, compared to analysts’ expectations of $16.42 billion. During the same quarter in the previous year, the company earned $1.88 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. Research analysts anticipate that Morgan Stanley will post 8.56 earnings per share for the current year.

Morgan Stanley declared that its board has initiated a share buyback program on Tuesday, July 1st that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 8.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Morgan Stanley Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, October 31st. Morgan Stanley’s dividend payout ratio is presently 41.03%.

Morgan Stanley Profile

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Institutional Securities, Wealth Management, and Investment Management segments.