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Byline Bancorp Inc (BY)
NYSE:BY
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Byline Bancorp
(NYSE:BY)
Rating:73Outperform
Price Target:―
Byline Bancorp (BY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.19B
Dividend Yield1.43%
Average Volume (3M)149.82K
Price to Earnings (P/E)9.6
Beta (1Y)0.95
Revenue Growth7.68%
EPS Growth-1.13%
CountryUS
Employees1,032
SectorFinancial
Sector Strength81
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.65
Shares Outstanding46,152,287
10 Day Avg. Volume132,277
30 Day Avg. Volume149,825
Financial Highlights & Ratios
PEG Ratio-5.37
Price to Book (P/B)1.02
Price to Sales (P/S)0.00
P/FCF Ratio11.08
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue0.61
Enterprise Value/Gross Profit2.16
Enterprise Value/Ebitda2.48
Forecast
1Y Price Target
$32.33Price Target Upside22.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Byline Bancorp Business Overview & Revenue Model
Company DescriptionByline Bancorp, Inc. operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits. The company also provides term loans, revolving lines of credit, and construction financing services; senior secured financing solutions to private equity backed lower middle market companies; small business administration and united states department of agriculture loans; and treasury management products and services. In addition, it offers financing solutions for equipment vendors and their end users; and investment, trust, and wealth management services that include fiduciary and executor services, financial planning solutions, investment advisory services, and private banking services for foundations and endowments, and high net worth individuals. It operates through 43 branch locations in the Chicago metropolitan area and one branch in Brookfield, Wisconsin. The company was formerly known as Metropolitan Bank Group, Inc. and changed its name to Byline Bancorp, Inc. in 2015. Byline Bancorp, Inc. was founded in 1914 and is headquartered in Chicago, Illinois.
How the Company Makes MoneyByline Bancorp generates revenue primarily through interest income from its loan portfolio, which includes commercial loans, commercial real estate loans, and consumer loans. The bank earns money by charging interest on the funds it lends to businesses and individuals. Additionally, Byline Bancorp derives revenue from non-interest income sources such as fees generated from deposit accounts, treasury management services, and transaction processing. The company also benefits from strategic partnerships with financial service providers to offer a broader range of products and services to its clients. Factors such as economic conditions, interest rate environments, and regulatory changes can significantly impact the company's earnings.
Byline Bancorp Earnings Call Summary
Earnings Call Date:Apr 24, 2025
(Q1-2025)
| % Change Since: 3.36%|
Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment Positive
The earnings call for Byline Bancorp highlighted strong financial performance, successful integration of a recent acquisition, and recognition from prestigious entities. However, it also noted challenges such as an uncertain economic environment and changes in personnel. While there are pressures on the SBA business, the company remains optimistic about future growth and stability.Q1-2025 Updates
Positive Updates
Strong Financial Performance
Byline Bancorp reported net income of $28.2 million or $0.64 per diluted share. Pre-tax pre-provision income was $47.3 million, marking the 10th consecutive quarter where this metric exceeded 200 basis points.
Loan and Deposit Growth
The company experienced excellent growth in both loans and deposits, which were up 8% and 5.1% respectively on a linked-quarter annualized basis.
Credit Rating Upgrade
Byline Bancorp's credit ratings were upgraded by Kroll, making it the only bank in its industry to receive an upgrade in the past 12 months.
Recognition and Awards
Byline was named one of America’s 100 Best Banks by Forbes and one of the Best Regional Banks by Newsweek.
Successful Integration of First Security
The transaction with First Security was closed and integrated within 207 days, setting up for a full quarter of results in the second quarter.
Negative Updates
Uncertain Economic Environment
The company noted a period of heightened uncertainty and volatility across markets, with mixed signals from macroeconomic indicators.
Loss of Key Personnel
The quarter saw the right-sizing of the government-guaranteed business, resulting in some long-standing employees leaving the company.
SBA Business Under Pressure
There was a decrease in non-interest income due to seasonality and lower gain on sale from the SBA business, with ongoing uncertainty about future volumes.
Company Guidance
In the first quarter of 2025, Byline Bancorp reported strong financial performance, with a net income of $28.2 million, translating to $0.64 per diluted share. The company's pre-tax pre-provision income was $47.3 million, maintaining a consistent pre-tax pre-provision ROA of 209 basis points for the tenth consecutive quarter. The net interest margin expanded to 407 basis points, supported by a decrease in the cost of interest-bearing liabilities. Total revenue reached $103 million, representing a 2% increase year-over-year. Loan originations were robust at $310 million, while the deposit base grew by 5.1% on a linked-quarter annualized basis. Asset quality improved, with non-performing loans decreasing to 76 basis points of total loans, and the allowance for credit losses remained at a strong 1.43%. Capital levels were healthy, with a CET1 ratio nearing 12%, and the company received a credit rating upgrade from Kroll. The acquisition of First Security was completed, and its integration was successful, setting the stage for solid performance in the subsequent quarters.Byline Bancorp Financial Statement Overview
Summary
Byline Bancorp exhibits a solid financial performance with consistent revenue and profitability growth, coupled with improved leverage ratios. While cash flows are strong, potential volatility in financing activities and the absence of certain profitability metrics warrant cautious optimism. Overall, the company's financial health is stable, with promising growth prospects.Income Statement
Byline Bancorp has demonstrated consistent revenue growth over recent years, reaching a total revenue of $534.3 million in 2023 from $263.1 million in 2019. The net profit margin improved to 20.20% in 2023, indicating enhanced profitability. However, the absence of EBITDA data in 2023 limits the full analysis of operational efficiency.72
Positive
Balance Sheet
The company's balance sheet reflects a solid equity base with a Debt-to-Equity ratio reducing to 0.52 in 2023 from higher levels in previous years, showcasing improved leverage management. The equity ratio increased to 11.15% in 2023, indicating a stable capital structure, though it remains relatively low compared to industry norms.68
Positive
Cash Flow
Byline Bancorp's cash flow statement shows robust operating cash flows, growing significantly to $166.1 million in 2023. The Free Cash Flow to Net Income ratio indicates strong cash generation relative to earnings. However, fluctuations in financing cash flows suggest potential volatility in financial strategies.75
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 392.99M | 403.54M | 534.27M | 320.23M | 303.61M | 269.26M | Gross Profit |
| 526.12M | 403.54M | 353.28M | 320.23M | 303.61M | 269.26M | EBIT |
| 24.98M | 161.08M | 145.68M | 148.53M | 124.21M | 51.67M | EBITDA |
| 84.02M | 0.00 | 0.00 | 118.97M | 130.20M | 58.15M | Net Income Common Stockholders |
| 118.57M | 120.76M | 107.88M | 87.95M | 92.78M | 37.47M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 1.61B | 346.78M | 226.14M | 1.35B | 1.61B | 1.53B | Total Assets |
| 9.58B | 9.50B | 8.88B | 7.36B | 6.70B | 6.39B | Total Debt |
| 0.00 | 742.55M | 513.17M | 751.43M | 630.15M | 757.69M | Net Debt |
| 273.77M | 179.41M | 287.03M | 572.08M | 472.21M | 674.27M | Total Liabilities |
| 8.45B | 8.41B | 7.89B | 6.60B | 5.86B | 5.59B | Stockholders Equity |
| 1.13B | 1.09B | 990.15M | 765.82M | 836.38M | 805.46M |
| Cash Flow | Free Cash Flow | ||||
| 109.34M | 171.17M | 162.21M | 216.70M | 72.19M | 105.11M | Operating Cash Flow |
| 111.43M | 173.76M | 166.07M | 220.33M | 74.43M | 109.02M | Investing Cash Flow |
| -178.22M | -324.88M | -336.24M | -819.86M | -236.05M | -886.36M | Financing Cash Flow |
| 46.82M | 492.76M | 216.96M | 620.95M | 236.13M | 780.01M |
Byline Bancorp Technical Analysis
Neutral
26.42
Price Trends
25.72
Positive
27.01
Negative
27.42
Negative
Market Momentum
0.25
Positive
52.53
Neutral
23.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BY, the sentiment is Neutral. The current price of 26.42 is above the 20-day moving average (MA) of 26.42, above the 50-day MA of 25.72, and below the 200-day MA of 27.42, indicating a neutral trend. The MACD of 0.25 indicates Positive momentum. The RSI at 52.53 is Neutral, neither overbought nor oversold. The STOCH value of 23.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BY.
Byline Bancorp Risk Analysis
Byline Bancorp disclosed 34 risk factors in its most recent earnings report. Byline Bancorp reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
There is uncertainty surrounding the potential legal, regulatory and policy changes by the presidential administration in the United States that may directly affect financial institutions and the global economy. Q4, 2024
Byline Bancorp Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.22B | 11.69 | 11.98% | 2.39% | 12.38% | 26.96% | |
73 Outperform | $1.19B | 9.61 | 11.08% | 1.43% | 7.68% | -1.13% | |
71 Outperform | $1.16B | 10.33 | 11.70% | 0.35% | 4.17% | -0.91% | |
70 Outperform | $1.11B | 39.81 | 2.45% | 3.95% | -2.81% | -64.23% | |
66 Neutral | $1.23B | 20.69 | 6.10% | 0.45% | 12.30% | -41.81% | |
64 Neutral | $12.67B | 9.74 | 7.58% | 17015.08% | 12.21% | -6.96% | |
63 Neutral | $1.15B | 10.08 | 9.69% | 2.90% | 17.98% | 399.48% |
* Financial Sector Average
Performance Comparison
BY
Byline Bancorp
26.42
3.62
15.88%
BHLB
Berkshire Hills
25.40
4.11
19.30%
DCOM
Dime Community Bancshares
25.86
7.90
43.99%
QCRH
QCR Holdings
68.65
11.64
20.42%
RBCAA
Republic Bancorp
70.31
19.91
39.50%
LOB
Live Oak Bancshares
28.05
-5.41
-16.17%
Byline Bancorp Corporate Events
M&A TransactionsBusiness Operations and Strategy
Byline Bancorp Completes Merger with First Security Bancorp
Positive
Apr 1, 2025
On April 1, 2025, Byline Bancorp, Inc. completed its merger with First Security Bancorp, Inc. and its subsidiary, First Security Trust and Savings Bank. This merger, which was effective on the same date, increased Byline’s total assets to approximately $9.8 billion as of December 31, 2024. The merger agreement stipulated that each share of First Security Bancorp’s common stock was converted into 2.3539 shares of Byline common stock, with the total merger consideration valued at approximately $41.5 million. This strategic move is expected to strengthen Byline’s position as a leading commercial bank in Chicago by combining two strong, community-focused franchises, thereby enhancing its service offerings and market presence.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.