Byline Bancorp (NYSE:BY) Price Target Raised to $45.00 at Hovde Group

Byline Bancorp (NYSE:BY) had its target price increased by investment analysts at Hovde Group from $39.00 to $45.00 in a note issued to investors on Monday. The brokerage presently has an “outperform” rating on the stock. Hovde Group’s target price indicates a potential upside of 16.45% from the stock’s current price.

BY has been the subject of several other reports. Piper Sandler raised their price objective on Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Raymond James Financial began coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating for the company. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Byline Bancorp Trading Up 0.1%

Shares of Byline Bancorp stock opened at $38.64 on Monday. Byline Bancorp has a twelve month low of $25.38 and a twelve month high of $39.51. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.67 and a beta of 0.72. The business’s 50 day simple moving average is $35.60 and its 200-day simple moving average is $33.22.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.94% and a net margin of 23.36%.The company had revenue of $117.71 million for the quarter, compared to analysts’ expectations of $115.78 million. Sell-side analysts predict that Byline Bancorp will post 3.28 earnings per share for the current year.

Hedge Funds Weigh In On Byline Bancorp

A number of hedge funds have recently added to or reduced their stakes in BY. AQR Capital Management LLC lifted its stake in Byline Bancorp by 34.4% in the first quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock valued at $3,610,000 after acquiring an additional 35,324 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Byline Bancorp by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after purchasing an additional 770 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Byline Bancorp by 7.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock worth $1,995,000 after purchasing an additional 5,213 shares in the last quarter. Jane Street Group LLC boosted its holdings in Byline Bancorp by 71.0% in the first quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock worth $3,989,000 after purchasing an additional 63,317 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Byline Bancorp by 2.5% during the second quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock worth $791,000 after buying an additional 712 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp Company Profile

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.