Zacks: Analysts Expect Byline Bancorp Inc (NYSE:BY) Will Announce Quarterly Sales of $68.50 Million

Wall Street brokerages expect Byline Bancorp Inc (NYSE:BY) to report $68.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Byline Bancorp’s earnings. The lowest sales estimate is $68.00 million and the highest is $69.00 million. Byline Bancorp reported sales of $67.83 million in the same quarter last year, which would suggest a positive year over year growth rate of 1%. The business is scheduled to report its next earnings results on Thursday, January 23rd.

According to Zacks, analysts expect that Byline Bancorp will report full-year sales of $270.70 million for the current year, with estimates ranging from $270.20 million to $271.20 million. For the next year, analysts forecast that the firm will post sales of $273.70 million, with estimates ranging from $272.70 million to $274.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Byline Bancorp.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $72.64 million during the quarter, compared to the consensus estimate of $69.40 million. Byline Bancorp had a net margin of 18.36% and a return on equity of 9.25%.

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

NYSE:BY traded up $0.46 during mid-day trading on Wednesday, reaching $18.49. The stock had a trading volume of 101,016 shares, compared to its average volume of 78,592. Byline Bancorp has a 12 month low of $15.39 and a 12 month high of $20.58. The stock has a market capitalization of $705.86 million, a PE ratio of 15.67, a P/E/G ratio of 1.17 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day simple moving average of $18.12 and a two-hundred day simple moving average of $18.25.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Byline Bancorp by 40.4% in the 2nd quarter. BlackRock Inc. now owns 1,291,329 shares of the company’s stock valued at $24,690,000 after acquiring an additional 371,736 shares during the last quarter. Millennium Management LLC grew its position in Byline Bancorp by 3,646.1% during the 3rd quarter. Millennium Management LLC now owns 187,307 shares of the company’s stock worth $3,349,000 after acquiring an additional 182,307 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Byline Bancorp by 96.8% in the 2nd quarter. Renaissance Technologies LLC now owns 153,100 shares of the company’s stock worth $2,927,000 after purchasing an additional 75,300 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Byline Bancorp by 16.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 289,185 shares of the company’s stock worth $5,170,000 after purchasing an additional 41,264 shares in the last quarter. Finally, Banc Funds Co. LLC increased its holdings in Byline Bancorp by 7.4% in the 2nd quarter. Banc Funds Co. LLC now owns 521,906 shares of the company’s stock worth $9,979,000 after purchasing an additional 36,021 shares in the last quarter. Hedge funds and other institutional investors own 34.06% 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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