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BY — Byline Bancorp News Story

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Byline Bancorp Q3 EPS rises 15%, revenue hits record

Byline Bancorp Q3 EPS rises 15%, revenue hits record


Overview

  • US commercial bank's Q3 total revenue and net interest income rose yr/yr

  • Diluted EPS for Q3 rose 14.6% from prior year

  • Company raised quarterly dividend and repurchased shares, returning over $20 mln to shareholders


Outlook

  • Company expects strong capital position to support future growth and market opportunities

  • Byline Bancorp says acquisition of Illinois State Bancorp to expand market presence and core deposit base

  • Company sees flexibility to pursue long-term value creation as it grows in Chicago market


Result Drivers

  • INVESTMENT SECURITIES & FUNDING COSTS - Co said higher yields on investment securities and reduced wholesale funding costs drove net interest income growth

  • DEPOSIT GROWTH - Co said deposit growth contributed to balance sheet expansion, though cost of deposits increased

  • CREDIT QUALITY IMPROVEMENTS - Co said lower credit loss provision was due to improved collateral-related factors and lower loan balances


Company press release: ID:nBwtWjSBa


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$41.80 mln

Q3 Net Interest Income

$103.70 mln

Q3 Credit Loss Provision

-$6.70 mln

Q3 Dividend

$0.14


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the banks peer group is "buy"

  • Wall Street's median 12-month price target for Byline Bancorp Inc is $44.00, about 17.7% above its October 21 closing price of $37.39

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Oct 19 - ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin

  • Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%

  • Oct 21 - Pinnacle Financial Partners Q3 adjusted profit beats estimates on loan, fee income growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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