Morgan Stanley: Financial Winner

NEW YORK ( TheStreet) -- Morgan Stanley ( MS) was the winner among the largest U.S. banking names on Monday, with shares rising 3% to close at $20.06.

The Dow Jones Industrial Average and the S&P 500 index saw slight gains, while the Nasdaq was up 1%, after Apple ( AAPL) broke the tech mold by announcing it would put some of its $100 billion in cash to work, by deploying $45 billion over the next three years, through a quarterly dividend of $2.65 a share and $10 billion in share buybacks.

The KBW Bank Index ( I:BKX) rose slightly to close at 49.97.

Morgan Stanley's shares have now risen 33% year-to-date, following a 44% drop during 2011.

The shares trade for just 0.6 times tangible book value, according to Worldscope data provided by Thomson Reuters, and for 12 times the consensus 2012 earnings estimate of $1.88 a share, among analysts polled by Thomson Reuters. The consensus 2013 EPS estimate is $2.35

Following the completion of the Federal Reserve's annual bank holding company announced last Tuesday that the regulator had no objection to the company's "2012 capital plan, including the potential cash acquisition of an additional 14 percent of Morgan Stanley Smith Barney and ongoing payment of current common and preferred dividends."

Morgan Stanley is currently paying a quarterly dividend of five cents on its common shares.

Interested in more on Citigroup? See TheStreet Ratings' report card for this stock.

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