Its net income for the quarter ended April 30 rose to C$1.96 billion, or C$2.50 per share, compared with C$1.87 billion, or C$2.36 per share, a year earlier.

U.S.-listed shares of Bank of Montreal (BMO) continued to gain in extended trading on Wednesday after the lender topped quarterly profit estimates and raised its dividend.

The company reported adjusted net income of C$2.62 per share for the fiscal second quarter, which topped analysts’ estimates of C$2.55 per share, according to FinChat data.

Its net income for the quarter ended April 30 rose to C$1.96 billion ($1.42 billion), or C$2.50 per share, compared with C$1.87 billion, or C$2.36 per share, a year earlier.

Bank of Montreal, one of the top lenders in Canada, reported quarterly revenue of C$8.68 billion, which fell short of expectations of C$8.71 billion.

While the Canadian economy was expected to bounce back amid seven consecutive rate cuts by the central bank, the housing market has remained subdued alongside weak growth in private jobs.

The firm’s net interest income rose 13% to C$5.1 billion, aided by growth in both Canadian and U.S. personal and commercial banking. Its wealth management segment's net income was up 13% from last year.

However, its provision for net losses rose to C$1.05 billion, compared with C$705 million a year earlier, as it allocated higher amounts to Canadian commercial banking and unsecured consumer lending.

The company said that macroeconomic uncertainties in both the U.S. and Canada have kept demand muted across its client segments so far this year. However, with better clarity on tariff changes, conditions are expected to normalize.

Bank of Montreal also raised its quarterly dividend by 3% to C$1.63 per share.

Retail sentiment on Stocktwits was in the ‘extremely bullish’ (80/100) territory, while retail chatter was ‘extremely high.’

BMO’s Sentiment Meter and Message Volume as of 12:37 a.m. ET on May 29, 2025 | Source: Stocktwits

Bank of Montreal’s U.S. shares have gained 11.1% this year.

(1 Canadian dollar = $0.72)

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