Byline Bancorp (NYSE:BY) Posts Earnings Results, Beats Expectations By $0.12 EPS

Byline Bancorp (NYSE:BY) announced its earnings results on Thursday. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.12, FiscalAI reports. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.

Byline Bancorp Price Performance

NYSE BY traded up $0.56 on Thursday, reaching $37.95. The company had a trading volume of 285,294 shares, compared to its average volume of 246,529. Byline Bancorp has a 1 year low of $26.39 and a 1 year high of $40.03. The firm has a 50-day moving average of $37.78 and a 200-day moving average of $36.14. The firm has a market capitalization of $1.72 billion, a PE ratio of 11.47 and a beta of 0.73.

Insider Buying and Selling

In related news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.10, for a total value of $11,730,000.00. Following the completion of the sale, the insider directly owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. This represents a 2.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dana Rose sold 2,421 shares of Byline Bancorp stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total value of $94,419.00. Following the sale, the insider directly owned 11,605 shares of the company’s stock, valued at approximately $452,595. The trade was a 17.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 622,171 shares of company stock valued at $24,328,816 over the last quarter. Company insiders own 29.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Zacks Research lowered Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Raymond James Financial initiated coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods increased their price objective on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, Piper Sandler increased their price target on shares of Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Byline Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.