Zacks: Brokerages Anticipate Byline Bancorp Inc (NYSE:BY) to Post $0.24 EPS

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Wall Street analysts forecast that Byline Bancorp Inc (NYSE:BY) will announce $0.24 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Byline Bancorp’s earnings, with estimates ranging from $0.21 to $0.30. Byline Bancorp reported earnings per share of $0.41 during the same quarter last year, which indicates a negative year-over-year growth rate of 41.5%. The business is scheduled to issue its next earnings report on Thursday, October 22nd.

According to Zacks, analysts expect that Byline Bancorp will report full year earnings of $0.93 per share for the current financial year, with EPS estimates ranging from $0.75 to $1.12. For the next fiscal year, analysts anticipate that the business will post earnings of $0.97 per share, with EPS estimates ranging from $0.82 to $1.06. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Byline Bancorp.

Byline Bancorp (NYSE:BY) last issued its earnings results on Friday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.20. The business had revenue of $65.40 million for the quarter, compared to analyst estimates of $62.10 million. Byline Bancorp had a net margin of 14.00% and a return on equity of 6.00%.

BY has been the subject of a number of research analyst reports. TheStreet raised Byline Bancorp from a “d” rating to a “c” rating in a research report on Monday, June 29th. Zacks Investment Research upgraded Byline Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Piper Sandler lifted their price target on shares of Byline Bancorp from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, ValuEngine lowered shares of Byline Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.33.

In related news, insider Owen Beacom sold 13,647 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $13.78, for a total value of $188,055.66. Following the completion of the sale, the insider now directly owns 34,941 shares of the company’s stock, valued at approximately $481,486.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lindsay Y. Corby sold 2,285 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $12.73, for a total value of $29,088.05. The disclosure for this sale can be found here. Insiders have sold a total of 112,600 shares of company stock valued at $1,481,612 over the last three months. Corporate insiders own 37.36% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. American International Group Inc. boosted its stake in shares of Byline Bancorp by 7.6% in the 2nd quarter. American International Group Inc. now owns 14,844 shares of the company’s stock worth $194,000 after buying an additional 1,052 shares during the last quarter. Strs Ohio raised its stake in shares of Byline Bancorp by 3.4% during the 2nd quarter. Strs Ohio now owns 42,300 shares of the company’s stock valued at $554,000 after purchasing an additional 1,400 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Byline Bancorp by 27.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,205 shares of the company’s stock worth $75,000 after purchasing an additional 1,543 shares in the last quarter. BHZ Capital Management LP boosted its stake in Byline Bancorp by 4.3% in the 2nd quarter. BHZ Capital Management LP now owns 43,968 shares of the company’s stock worth $576,000 after purchasing an additional 1,826 shares during the period. Finally, Citigroup Inc. grew its holdings in Byline Bancorp by 39.1% during the 1st quarter. Citigroup Inc. now owns 6,578 shares of the company’s stock valued at $68,000 after buying an additional 1,850 shares in the last quarter. Institutional investors own 36.45% of the company’s stock.

Shares of NYSE BY traded up $0.19 during trading on Tuesday, hitting $12.78. 32,200 shares of the company traded hands, compared to its average volume of 50,763. The firm has a market capitalization of $490.91 million, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.38 and a beta of 1.45. The business’s fifty day moving average is $13.10 and its 200 day moving average is $12.57. Byline Bancorp has a fifty-two week low of $8.13 and a fifty-two week high of $20.73.

About Byline Bancorp

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides a range of banking products and services to small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers non-interest bearing accounts, money market demand accounts, savings accounts, interest bearing checking accounts, and time deposits, as well as certificates of deposit.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

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Earnings History and Estimates for Byline Bancorp (NYSE:BY)

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