Overview

* Byline Bancorp ( BY ) 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/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.82

Q3 Net $37.20

Income mln

Q3 Net $99.90

Interest mln

Income

Q3 $5.30

Credit mln

Loss

Provisio

n

Q3 $0.10

Dividend

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 ( BY ) 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:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(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.)