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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Marshall & Ilsley Corp | NYSE:MI | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.90 | 0.00 | 01:00:00 |
Marshall & Ilsley Corp.'s (MI) fourth-quarter loss narrowed, revenue declined less than analysts expected and its loan-loss provision declined.
The Wisconsin-based regional bank posted its ninth-straight quarter in the red. Its loan books have shown improvement but have performed worse than those of many of its peers, and, like much of the sector, it has bolstered its bottom line by setting aside less to cover potential loan losses.
Marshall & Ilsley reported a loss of $108.1 million, or 25 cents a share, compared with a year-earlier loss of $234.3 million, or 54 cents a share. Revenue slid 2.2% to $631.8 million.
Analysts polled by Thomson Reuters most recently forecast a loss of 24 cents on $555 million in revenue.
Loan-loss provisions were $429.1 million, down from $639 million a year earlier and $431.7 million in the prior quarter. Net charge-offs, loans lenders don't think are collectible, fell to 4.4% of average loans from 5.01% and 5.47%, respectively. Nonperforming loans, those near default, were 4.24% of total loans, down from 4.62% a year earlier but up from 4.02% the prior period.
Shares were down 0.6% at $7.12 in recent premarket trading.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com
1 Year Marshall & Ilsley Chart |
1 Month Marshall & Ilsley Chart |
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