Marshall & Ilsley
posted an increase in third-quarter earnings on Monday.
The Milwaukee-based company reported quarterly earnings of $140.3 million, or 61 cents a share, compared to $119.2 million, or 54 cents a share, in the previous-year quarter. Analysts were expecting 60 cents a share.
The company said earnings for the three months ended Sept. 30 include an after-tax amount of $2.3 million, or a penny a share, related to Metavante's acquisition-related transition expenses. Additionally, Marshall & Ilsley sold one of its capital markets portfolio companies, resulting in a pretax gain of $16.2 million. Its cost of debt refinancing was $54.7 million in the quarter.
Shares of the company were up 60 cents, or 1.8%, at $34.44 at midday Monday.