Morgan Stanley (NYSE:MS) stock was down on Tuesday despite positive results for its fourth quarter of 2016.
For the fourth quarter of 2016, Morgan Stanley reported earnings per share of 81 cents. This is an increase over the earnings per share of 39 cents that was reported during the same time last year. It also came in above Wall Street’s earnings per share estimate of 65 cents.
Morgan Stanley reported revenue of $9 billion for the fourth quarter of the year. This is up from the $7.7 billion billion in revenue that it reported in the fourth quarter of 2015. Analysts were expecting MS to report revenue of $8.47 billion for the fourth quarter of 2016.
Net income reported by Morgan Stanley for the fourth quarter of 2016 was $1.7 billion. The financial services company reported net income of $908 million during the same period from the year prior.
Morgan Stanley also announced that it is paying a dividend of 20 cents per share to investors. The dividend will be payable to shareholders on Feb. 15, 2017 that were on record as of Jan. 31, 2017.
Morgan Stanley also reported its results for the full year of 2016 in its most recent earnings report. This includes earnings per share of $2.92 on net income of $6.0 billion. Earnings per share for 2015 was $2.90 on net income of $6.1 billion. Wall Street’s earnings per share estimate for 2016 was $2.76.
Revenue reported by Morgan Stanley for the full year of 2016 was $34.6 billion. This is down from its revenue of $35.2 billion for the previous year. Analysts were expecting revenue for the year to be $34.13 billion.
MS stock was down 3% as of Tuesday afternoon.