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Bank Earnings Wrap-up: Morgan Stanley, Northern Trust, Signature Bank, More

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Tech companies are doing the heavy lifting today, as the Nasdaq is the only major index that’s well in the green. Both the Dow and S&P are close to flat due to mixed earnings releases from various companies. In this financial-heavy edition of trending stocks, we analyze the earnings results of five banks: Morgan Stanley (NYSE:MS), Northern Trust Corporation (NASDAQ:NTRS), M&T Bank Corporation (NYSE:MTB), Signature Bank (NASDAQ:SBNY), and Pacific Premier Bancorp, Inc. (NASDAQ:PPBI). In addition to the results, we’ll use SEC filings to see what elite funds think of each of stock.

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Morgan Stanley Rises 2.5% on Earnings

Traders are watching Morgan Stanley (NYSE:MS) after the investment bank reported EPS of $0.75 on revenue of $8.91 billion for the second quarter. The results beat the average analyst estimates by $0.16 per share and $610 million respectively. One reason for the beats is that fixed income trading revenue was better-than-expected at $1.30 billion, crushing analyst estimates of $1.01 billion. Wealth management sales fell by 2% year-over-year however, to $3.81 billion. Tangible book value was $31.39 per share. Of the 766 active funds that we track, 52 funds owned $1.75 billion worth of Morgan Stanley (NYSE:MS) positions on March 31, which accounted for 3.60% of the float.

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Northern Trust Reports Earnings

Northern Trust Corporation (NASDAQ:NTRS) shares are 1.3% in the red today after the company reported mostly in-line results. For the second quarter, Northern Trust earned $1.06 per share on revenue of $1.32 billion, while analysts had anticipated EPS of $1.06 and $1.31 billion in revenue. Sales rose by 4.8% year-over-year, led by a 3% rise in assets under custody. AUM fell by 4% however, to $906.2 billion. 25 funds that we track were long Northern Trust Corporation (NASDAQ:NTRS) at the end of March.

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On the next page we’ll take a look at the earnings reports of three more banks.

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