Zacks: Brokerages Expect Byline Bancorp Inc (NYSE:BY) Will Announce Earnings of $0.41 Per Share

Wall Street brokerages predict that Byline Bancorp Inc (NYSE:BY) will announce earnings of $0.41 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Byline Bancorp’s earnings, with estimates ranging from $0.40 to $0.42. Byline Bancorp reported earnings per share of $0.40 during the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The company is expected to announce its next earnings report after the market closes on Thursday, October 24th.

On average, analysts expect that Byline Bancorp will report full year earnings of $1.59 per share for the current fiscal year, with EPS estimates ranging from $1.57 to $1.61. For the next financial year, analysts forecast that the firm will post earnings of $1.60 per share, with EPS estimates ranging from $1.58 to $1.62. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Byline Bancorp.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, July 25th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The company had revenue of $68.63 million for the quarter, compared to analysts’ expectations of $66.85 million. Byline Bancorp had a net margin of 18.92% and a return on equity of 9.44%.

A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Byline Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 14th. ValuEngine raised shares of Byline Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Piper Jaffray Companies dropped their target price on shares of Byline Bancorp from $23.50 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Byline Bancorp presently has an average rating of “Hold” and an average target price of $21.00.

Shares of NYSE:BY traded down $0.04 on Thursday, reaching $17.85. 63,217 shares of the company’s stock were exchanged, compared to its average volume of 94,853. The firm has a market capitalization of $681.87 million, a price-to-earnings ratio of 15.13, a PEG ratio of 1.13 and a beta of 1.06. Byline Bancorp has a fifty-two week low of $15.39 and a fifty-two week high of $22.25. The business’s 50-day moving average is $17.83 and its two-hundred day moving average is $18.55. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.71.

In related news, insider Brogan Ptacin sold 5,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $17.33, for a total value of $95,315.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 39.21% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Byline Bancorp by 57.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,293 shares of the company’s stock worth $63,000 after buying an additional 1,199 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Byline Bancorp by 85.9% in the second quarter. JPMorgan Chase & Co. now owns 7,392 shares of the company’s stock worth $141,000 after purchasing an additional 3,415 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Byline Bancorp by 23.8% in the second quarter. Bank of Montreal Can now owns 10,156 shares of the company’s stock worth $194,000 after purchasing an additional 1,954 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Byline Bancorp in the second quarter worth approximately $237,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Byline Bancorp by 174.7% in the second quarter. Tower Research Capital LLC TRC now owns 12,825 shares of the company’s stock worth $245,000 after purchasing an additional 8,156 shares in the last quarter. Institutional investors own 32.18% of the company’s stock.

Byline Bancorp Company Profile

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.

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

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