UPDATE: Bank of Montreal Q4 Profit Up 41%

Bank of Montreal

reported a 41% rise in its fourth-quarter profit. The bank's quarterly earnings surged to C$1.1 billion ($1.11 billion), or C$1.59 per share, from C$768 million, or C$1.11 per share, in the year-ago period. On an adjusted basis, Bank of Montreal earned C$1.65 per share. However, analysts were expecting a profit of C$1.49 per share. Bank of Montreal shares closed at $59.74 yesterday.