Byline Bancorp (BY) reported $99.37 million in revenue for the quarter ended June 2024, representing a yearover-year increase of 9.9%. EPS of $0.68 for the same period compares to $0.73 a year ago. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Shares of Byline Bancorp have returned +23.3% over the past month versus the Zacks S&P 50 ...

Byline Bancorp (BY) came out with quarterly earnings of $0.68 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.73 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on ...

Financial Performance - Net income for Q2 2024 was $29.7 million, with diluted earnings per share of $0.68, a decrease from $30.4 million and $0.70 in Q1 2024[11] - Total revenue for Q2 2024 was $99.37 million, a decrease from $101.01 million in Q1 2024 and an increase from $90.46 million in Q2 2023[1] - Reported net income for the quarter was $29,671 thousand, slightly down from $30,440 thousand in March 2024, but up from $26,107 thousand in June 2023[48] - Adjusted net income remained stable at $29,671 thousand for June 30, 2024, compared to $30,582 thousand in March 2024[48] - Basic and diluted earnings per common share for June 30, 2024, were $0.68, down from $0.70 in the previous quarter and the same period last year[43] Income and Expenses - Net interest income increased to $86.5 million, up $985,000 or 1.2% from Q1 2024, primarily due to a $2.7 million increase in interest and fees on loans and leases[14] - Non-interest income decreased to $12.8 million, down $2.6 million or 17.0% from Q1 2024, mainly due to a $1.8 million increase in the downward revaluation of the loan servicing asset[6] - Non-interest expense for Q2 2024 was $53.21 million, a decrease from $53.81 million in Q1 2024 and an increase from $49.33 million in Q2 2023[1] - Interest expense for the quarter was $55,043 thousand, compared to $31,106 thousand in the same quarter last year, showing an increase of 77.0%[42] Assets and Liabilities - Total assets grew to $9.6 billion, an increase of $223.3 million or 2.4% compared to Q1 2024, driven by an increase in net loans and leases held for investment[8] - Total assets increased to $9,633,815 thousand as of June 30, 2024, up from $9,410,503 thousand in March 31, 2024, and $7,575,690 thousand in June 30, 2023, representing a year-over-year growth of 27.1%[41] - Total liabilities increased to $8,600,801 thousand as of June 30, 2024, compared to $6,761,748 thousand in June 30, 2023, reflecting a year-over-year growth of 27.2%[41] - Total deposits remained flat at $7.3 billion compared to Q1 2024[12] Credit Quality - Net charge-offs increased to $9.5 million, or 0.56% of average loans and leases, up from $6.2 million or 0.37% in Q1 2024[18] - Non-performing assets decreased to $64.6 million, or 0.67% of total assets, down from $68.7 million or 0.73% in Q1 2024[18] - The allowance for credit losses was $8,743,462 thousand, with a ratio of 6.52% as of June 30, 2024, compared to 6.48% in the previous quarter[26] - Non-performing loans and leases decreased to $63,808 thousand, a 6.0% decline from $67,899 thousand in March 2024, and increased by 66.7% compared to $38,273 thousand in June 2023[46] Dividends and Shareholder Returns - The company declared a cash dividend of $0.09 per share, payable on August 20, 2024[4] - The dividend payout ratio on common stock increased to 13.24% from 12.86% in the previous quarter, maintaining the same percentage as last year[43] Efficiency and Ratios - Efficiency ratio for Q2 2024 was 52.19%, an increase from 51.94% in Q1 2024[16] - Return on average stockholders' equity decreased to 11.83% from 12.26% in the previous quarter and 12.99% a year ago[43] - Adjusted return on average stockholders' equity was 11.83% for June 30, 2024, down from 12.31% in the previous quarter and 13.56% a year ago[51] Future Outlook - The company has identified certain risks that could affect future results, as detailed in their Annual Report on Form 10-K[30] - Management emphasizes the importance of non-GAAP financial measures for providing supplementary information regarding financial condition and performance[30] - The company plans to continue monitoring market conditions and adjusting strategies accordingly to enhance growth and profitability[30]

Shares of Byline Bancorp rallied for the seventh straight trading session and hit a 52-week high of $27.63. Encouraging inflation numbers and cooling employment data have increased the chances of the Federal Reserve cutting the interest rates as early as during the September FOMC meeting. As the rates come down, banks' funding costs will stabilize or move lower eventually. Also, demand for loans is expected to improve. Hence, the investors turned bullish on banking sector stocks, driving BY higher. Earnings ...

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today. One company value investors might notice is Byline Bancorp (BY) . BY is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. Looking at the history of these trend ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they be ...

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Byline Bancorp (BY) - Byline Bancorp currently holds a Momentum Style Score of B, indicating a positive outlook based on its price change and earnings estimate revisions [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Price Performance - Over the past week, BY shares increased by 0.73%, while the Zacks Banks - Northeast industry rose by 0.94% [5] - In a longer timeframe, BY's monthly price change is 15.46%, significantly outperforming the industry's 3.76% [5] - Over the last quarter, BY shares have risen by 9.39%, and over the past year, they have increased by 33.07%, compared to the S&P 500's gains of 5.76% and 28.32%, respectively [6] Trading Volume - BY's average 20-day trading volume is 102,589 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, three earnings estimates for BY have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $2.53 to $2.62 [9] - For the next fiscal year, three estimates have also moved upwards without any downward revisions [9] Conclusion - Considering the positive momentum indicators and earnings outlook, BY is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [10]

After reaching an important support level, Byline Bancorp, Inc. (BY) could be a good stock pick from a technical perspective. BY recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50- ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to ______ Commission File Number 001-38139 | --- | --- | --- | |--------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------- ...

CHICAGO, April 29, 2024 (GLOBE NEWSWIRE) -- Byline Bank, the #1 SBA lender in Illinois and a top 5 SBA lender nationwide for fiscal year 2023, is joining the U.S. Small Business Administration in celebration of Small Business Week (April 28-May 4, 2024) by recognizing entrepreneurial borrowers who have fulfilled their aspirations of small business ownership thanks to tailored financing solutions from Byline. Every weekday between April 29 and May 3, Byline Bank will highlight a small business owner—both in ...