Stock Movers: Bank of America, Goldman Sachs, Morgan Stanley

Scott Peters
16 Jul, 2025
New York City

Goldman Sachs Group Inc. increased 0.4% to $704.68, and the investment bank reported a surge in trading revenue because of the tariff-linked market volatility. 

Revenue increased 15% to $14.6 billion from $12.7 billion, net income advanced to $3.7 billion from $3.0 billion, and diluted earnings per share rose to $10.91 from $8.62 a year ago. 

Investment banking revenue increased to $2.1 billion from $1.7 billion, market-making revenue rose to $4.7 billion from $4.3 billion, investment management revenue jumped to $2.8 billion from $2.5 billion, and net interest income advanced to $3.1 billion from $2.0 billion a year ago, respectively. 

The average annualized return on common shareholders’ equity was 12.8% for the second quarter and 14.8% for the first half of 2025.

Book value per common share increased by 1.6% during the second quarter and by 3.9% during the first half of 2025 to $349.74.

Morgan Stanley dropped 3.3% to $136.97 after the investment bank reported fiscal second quarter results ending in June. 

Revenue in the quarter increased 12% to $16.8 billion from $15.0 billion, net income advanced to $3.5 billion from $3.1 billion, and diluted earnings per share rose to $2.13 from $1.82 a year ago. 

Wealth management revenue surged to $7.7 billion from $6.8 billion, and institutional securities revenues advanced to $7.6 billion from $6.9 billion a year ago, respectively. 

The chairman and chief executive officer said, “Wealth continues to deliver, adding $59 billion of net new assets and $43 billion of fee-based flows.

Total client assets across Wealth and Investment Management reached $8.2 trillion.

The firm repurchased $1.0 billion of its outstanding common stock during the quarter as part of its Share Repurchase Program.

The Board of Directors reauthorized a multi-year common equity share repurchase program of up to $20 billion, without a set expiration date, beginning in the third quarter of 2025.

The company declared a $1.00 quarterly dividend per share, an increase of 7.5 cents, payable on August 15 to shareholders of record on July 31.

Bank of America declined 0.6% to $45.49 after the financial service provider reported better-than-expected earnings. 

Revenue in the second quarter advanced 4% to $26.5 billion from $25.4 billion, net income rose 3% to $7.1 billion from $6.9 billion, and diluted earnings per share soared 7% to 89 cents from 83 cents a year ago.

The company returned $7.3 billion to shareholders, $2.0 billion through common stock dividends and $5.3 billion in share repurchases, and announced plans to increase the quarterly common stock dividend 8% beginning in the third quarter.

Book value per common share rose 8% to $37.13; tangible book value per common share rose 9% to $27.71.

In the quarter, the return on average common shareholders' equity ratio was 10.0%; the return on average tangible common shareholders' equity ratio was 13.4%.

“We delivered another solid quarter, with earnings per share up seven percent from last year.

Net interest income grew for the fourth straight quarter, reflecting eight consecutive quarters of deposit growth and seven percent year-over-year loan growth," Chairman and CEO Brian Moynihan said in a statement to investors. 

"Consumers remained resilient, with healthy spending and asset quality, and commercial borrower utilization rates rose," he added. 

"So far this year, we have supplied more capital to our businesses and returned 40 percent more capital to shareholders in the first half of this year than last year,” reiterating the company's commitment to return capital to shareholders.