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

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

Byline Bancorp Price Performance

Shares of BY stock traded down $0.13 during trading on Thursday, reaching $37.62. The company had a trading volume of 408,680 shares, compared to its average volume of 244,392. Byline Bancorp has a one year low of $25.38 and a one year high of $38.88. The company has a market capitalization of $1.71 billion, a PE ratio of 12.26 and a beta of 0.72. The firm’s 50 day simple moving average is $35.37 and its two-hundred day simple moving average is $33.10.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after acquiring an additional 313 shares during the period. Russell Investments Group Ltd. boosted its stake in Byline Bancorp by 1,572.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after purchasing an additional 2,689 shares during the period. Tower Research Capital LLC TRC grew its holdings in Byline Bancorp by 319.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock valued at $104,000 after buying an additional 2,973 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in Byline Bancorp in the 3rd quarter valued at approximately $174,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Byline Bancorp in the 4th quarter worth approximately $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.