Bank Stocks MS, GS, BAC, WFC Gain on Dividend Hikes Morgan Stanley (NYSE: MS ) stock is high on investors’ radar and rallying 3% after the bank raised its dividend significantly. Among the other large U.S. bank stocks that announced major dividend increases recently are Wells Fargo (NYSE: WFC ), Bank of America (NYSE: BAC ) and Goldman Sachs (NYSE: GS ). In morning trading, GS stock climbed 1.3%, BAC stock added 2% and WFC stock rose 2.2%. The banks increased their dividends after they were authorized to do so by the Federal Reserve due to the positive results of their stress tests. Those results were unveiled last week. MS Stock Dividend Hike and Share Repurchases The bank announced late yesterday that it would increase its dividend by 11%, bringing the payout to 77.5 cents per share. Its dividend was previously 70 cents per share. In 2021, the bank doubled its dividend. Additionally, Morgan Stanley’s board approved a new, multi-year share repurchase program worth up to $20 billion without a set expiration date. The authorization will take effect starting in the third quarter.