Overview

• US commercial bank's Q1 net income rose 8.9% and EPS up 9.1% from prior qtr

• Net interest income fell 1.4% due to fewer days and lower loan yields

• Company raised dividend 20% to $0.12/share and repurchased nearly $10 mln of stock

Outlook

• Company did not provide specific financial guidance for the current or future periods

Result Drivers

• NET INTEREST INCOME - Declined 1.4% from prior qtr due to fewer calendar days and lower loan yields, partially offset by lower deposit costs

• NON-INTEREST INCOME - Fell 20.4% from prior qtr, mainly due to lower fair value of equity securities and losses on leased asset sales

• NON-INTEREST EXPENSE - Decreased 5.3% from prior qtr, driven by lower incentive compensation, professional fees, and marketing expenses

Company press release: ID:nBw11XT2pa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		$37.60 mln
Q1 Net Interest Income		$99.90 mln
Q1 Credit Loss Provision		-$5.50 mln
Q1 Dividend		$0.12

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "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 $36.00, about 8.8% above its April 22 closing price of $33.09

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

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