We're buying up shares of this bank stock on a steep post-earnings pullback

We are buying 75 shares of Morgan Stanley , at roughly $73.79 apiece. Following Wednesday's trade, Jim Cramer's Charitable Trust will own 1,475 shares of MS, increasing its weighting in the portfolio to 3.87% from 3.68%. Shares of Morgan Stanley were down roughly 8% in midday trading Wednesday — hitting a new 52-week low — after the bank reported mixed third-quarter results before the opening bell.

To be fair, we would have preferred to see a larger number come through, as well. But management has always said that this figure would have some lumpiness quarter to quarter, making it misguided to extrapolate one quarter's results to the next. And with $235 billion in net new assets over three quarters, Morgan Stanley is still on track to reach its goal.

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