Time display is off in month View

I have an issue with month view of a Calendar: The time is displayed as 5 hours earlier than in the node listing.

What's curious is that my site's "Default time zone" is set at -5 (Eastern), but even if I change that (and then truncate the cache_views table) it doesn't fix the problem.

I also tried turning off "Configurable time zones", but no luck.

I'm running the latest version and looked thru all the existing issues to make sure this wasn't a duplicate.