UPDATE: Bank of Montreal Posts Higher Q1 Profit

Bank of Montreal

reported a 2% rise in its first-quarter profit. The bank's quarterly net profit gained to C$1.06 billion ($957.59 million), or C$1.58 per share, versus a year-ago profit of C$1.04 billion, or C$1.51 per share. Excluding special items, it earned C$1.61 per share, versus analysts' estimates of C$1.53 per share. Bank of Montreal shares closed at $65.59 yesterday.