Overview
Byline Bancorp Q3 net income rises to $37.2 mln, reflecting record revenues
Company's Q3 net interest income increases 4.1% to $99.9 mln
Provision for credit losses drops to $5.3 mln in Q3
Outlook
Company did not provide specific guidance for future quarters or full year in press release.
Result Drivers
NET INTEREST INCOME - Growth in net interest income was driven by higher interest income from loan and lease portfolio expansion and reduced deposit rates
NON-INTEREST INCOME - Increase in non-interest income was mainly due to higher net gains on sales of loans
CREDIT LOSS PROVISION - Decrease in provision for credit losses due to lower non-performing loans and higher recoveries
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | $0.82 | ||
Q3 Net Income | $37.20 mln | ||
Q3 Net Interest Income | $99.90 mln | ||
Q3 Credit Loss Provision | $5.30 mln | ||
Q3 Dividend | $0.10 |
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 $32.00, about 15.8% above its October 21 closing price of $26.94
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nBwvQ0MJa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@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.)