48 days have passed by since the last earnings report for Byline Bancorp, Inc. (NYSE:BY) and the new quarterly results look set to arrive in 43 days. The shares of BY at the moment are trading at a volume of 0.12 million, which compares with its normal daily standard volume of 99071 shares. This has led to the shares of the company advancing by 0.51%, currently exchanging hands at $17.7 a share. BY stock has been up by $6.42 (-26.63%) ever since it reached its 52-week high of $24.12 back in September 19, 2018. It has progressed above its 50-day moving average of $17.64 and is up 5.61% over the past week. The stock has retreated -10.8% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the BY share price due for a breakout?
Byline Bancorp, Inc. (BY) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Thursday, Oct 24, 2019, 6 analysts who are covering the company are estimating that it will record a profit of $0.41 per share, with analysts having different outlooks from $0.39 to $0.42. The current agreed outlook, when compared to the profit recorded last year, is at $0.4 a share, thus an increase of 2.5% is expected. The profit view for a complete financial year for Byline Bancorp, Inc. is expected to be around $1.59 in current year, a decline of nearly 11.19% from last year which was $1.43.
Analyzing The Earnings History Of Byline Bancorp, Inc. (NYSE:BY)
In the past few years, the BY stock has been known to miss the Wall Street’s earnings projection. The company missed 22% of the time, according to the data pulled on their earnings, was able to meet predictions on 1 occasions and topped expectations 6 times. Looking at the past trend, the price of Byline Bancorp, Inc. shares had risen following the release of their earnings in 4 of the last 8 quarters.
Looking back, here is how Byline Bancorp, Inc. (BY) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 1 of the last four earnings reports. The shares of Byline Bancorp, Inc. recorded -1.65%, 1.02%, 3.05% and 1.41%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -2.08%, 1.89%, 8.88% and 10.09%. Their post-earnings price movements have resulted in an average increase of 0.96% and an average increase of 4.7% in Byline Bancorp, Inc. on next day and 7th day, sequentially. BY’s one month stock performance led to its shares declining by -0.62% with a return of -23.81% witnessed over the last 52 weeks.
Byline Bancorp, Inc. (BY) Post Earnings Announcement Drift (PEAD)
Back on July 25, 2019, Byline Bancorp, Inc. (NYSE:BY) released its Q2 results, in which it recorded EPS of $0.41 that exceeded consensus estimates of $0.4. After the earnings were reported, the price of BY stock kicked off the session at $18.29 and remained in a range of $18.67 to $18.76 on the first day. The shares were priced at $18.47 at the close with a total volume of shares being 83078.
On April 25, 2019, the Q1 earnings report was disclosed with EPS of $0.38. This was above the estimation of $0.34 per share. The stock price range of BY was between $19.73 and $19.84 on the first-day post announcement, after opening the day at $19.52. The session came to close at $19.75 and there was a total volume of 56681 shares.
January 24, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.49, beating the projected $0.39 per share. The very next day, BY stock opened at $17 while staying in a range of $17.51 to $17.96. At the end, it moved to $17.88 a total volume of shares been 251897.
In the year-ago Q3 earnings on October 25, 2018, the company saw profit per share of $0.4. That was better than the $0.34 analysts had expected. Byline Bancorp, Inc. share price started at $19.96 on the first full trading day post-earning and then exchanged hands between $20.4 and $20.4 throughout the session. The closing price of $20.2 came on the back of 131897 shares in volume.