Zions Bancorporation, which failed the Federal Reserve’s annual stress test, deferred giving Chief Executive Officer Harris Simmons a cash bonus until after the bank learns the results of its resubmission.
Morgan Stanley, owner of the world’s largest brokerage, will seek to boost its dividend yield to about 2 percent and eventually return all of annual earnings to investors, Chief Executive Officer James Gorman said.
Morgan Stanley reported profit that beat analysts’ estimates as a surprise jump in fixed-income results helped the firm post the only increase in trading revenue among the six biggest U.S. banks this year. The stock rose 3 percent in early New York trading.
PNC Financial Services Group Inc., the second-biggest U.S. regional bank, said profit rose 6.5 percent, beating analysts’ estimates, as expenses declined and the company set aside fewer provisions for soured loans.