$68.50 Million in Sales Expected for Byline Bancorp Inc (NYSE:BY) This Quarter

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Brokerages expect Byline Bancorp Inc (NYSE:BY) to announce $68.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Byline Bancorp’s earnings. The lowest sales estimate is $68.00 million and the highest is $69.00 million. Byline Bancorp posted sales of $67.83 million in the same quarter last year, which would indicate a positive year over year growth rate of 1%. The business is expected 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 fiscal year, with estimates ranging from $270.20 million to $271.20 million. For the next fiscal year, analysts forecast that the business will post sales of $273.70 million, with estimates ranging from $272.70 million to $274.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Byline Bancorp.

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

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Byline Bancorp by 57.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,293 shares of the company’s stock worth $63,000 after acquiring an additional 1,199 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Byline Bancorp by 85.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,392 shares of the company’s stock valued at $141,000 after purchasing an additional 3,415 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in Byline Bancorp by 40.5% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,071 shares of the company’s stock worth $144,000 after purchasing an additional 2,326 shares during the period. Bank of Montreal Can lifted its stake in 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 during the last quarter. Finally, California Public Employees Retirement System bought a new stake in Byline Bancorp in the third quarter worth about $202,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

BY stock opened at $17.96 on Wednesday. Byline Bancorp has a 52 week low of $15.39 and a 52 week high of $20.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $18.10 and a two-hundred day simple moving average of $18.27. The firm has a market capitalization of $702.03 million, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.07.

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: Buy Rating

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

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