Byline Bancorp (NYSE:BY) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Byline Bancorp (NYSE:BY) announced its quarterly earnings data on Thursday. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.12, FiscalAI reports. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%.The business had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million.

Byline Bancorp Price Performance

Shares of Byline Bancorp stock traded down $0.13 during trading on Thursday, hitting $37.62. The company’s stock had a trading volume of 408,680 shares, compared to its average volume of 244,392. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 12.26 and a beta of 0.72. Byline Bancorp has a 52 week low of $25.38 and a 52 week high of $38.88. The stock has a 50-day moving average price of $35.37 and a two-hundred day moving average price of $33.10.

Institutional Investors Weigh In On Byline Bancorp

A number of institutional investors have recently made changes to their positions in BY. Parkside Financial Bank & Trust increased its stake in shares of Byline Bancorp by 15.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after buying an additional 313 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after acquiring an additional 2,689 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Byline Bancorp by 319.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock worth $104,000 after acquiring an additional 2,973 shares during the period. Quadrant Capital Group LLC bought a new stake in Byline Bancorp in the third quarter valued at approximately $174,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Byline Bancorp in the fourth quarter valued at approximately $206,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BY shares. Raymond James Financial started coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They set a “market perform” rating for the company. Zacks Research upgraded shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Piper Sandler increased their price target on Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.00.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.