Morgan Stanley CEO James Gorman’s has seen his pay rise by 22% last year, bumping his annual salary up by $6 million to $33 million for the year, Reuters reported.
According to Reuters, the CEO’s compensation was approved by Morgan Stanley’s (MS) board and is based on the bank’s record earnings results for 2020 that were released two weeks ago. Gorman’s pay increase came after it had been cut by 7% in 2019.
Morgan Stanley recently reported record net revenues of $48 billion, beating the 2019 figures by 16%. Net Income also came in at record highs of $11 billion, up 22% from the year before.
Gorman’s compensation is comprised of a base salary of $1.5 million, a cash bonus of $7.9 million, deferred equity of $7.9 million, and a performance related bonus of $15.8 million, Reuters reported. (See MS stock analysis on TipRanks)
Barclays analyst Jason Goldberg reiterated a Buy rating on the stock last week, raising his price target to $95 from $88. This implies upside potential of around 28% from current levels.
Goldman believes that two-year targets should be achievable based on “Strong asset levels, healthy pipelines, and engaged institutional and retail clients.”
Consensus among analysts is a Moderate Buy based on 9 Buys and 5 Holds. The average price target of $81.42 suggests upside potential of around 10% over the next 12 months.
News Sentiment for Morgan Stanley is Very Positive based on 103 articles over the past seven days. 100% of the articles have a Bullish Sentiment, compared to a sector average of 62%.