Byline Bancorp (NYSE:BY) Posts Earnings Results, Beats Estimates By $0.09 EPS

Byline Bancorp (NYSE:BY) posted its quarterly earnings data on Thursday. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09, FiscalAI reports. The business had revenue of $112.40 million for the quarter, compared to analyst estimates of $113.89 million. Byline Bancorp had a return on equity of 11.19% and a net margin of 20.54%.

Byline Bancorp Stock Performance

BY traded up $0.05 on Thursday, hitting $33.14. 122,411 shares of the stock traded hands, compared to its average volume of 185,152. Byline Bancorp has a 52 week low of $24.75 and a 52 week high of $34.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.51 billion, a PE ratio of 11.51 and a beta of 0.81. The business has a fifty day moving average price of $31.95 and a two-hundred day moving average price of $30.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BY shares. Zacks Research lowered Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective on shares of Byline Bancorp in a research note on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Byline Bancorp in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Byline Bancorp has an average rating of “Moderate Buy” and an average price target of $33.67.

Hedge Funds Weigh In On Byline Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in BY. Parkside Financial Bank & Trust increased its stake in Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after acquiring an additional 313 shares during the period. Russell Investments Group Ltd. increased its stake in Byline Bancorp by 1,572.5% during the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after acquiring an additional 2,689 shares during the period. Tower Research Capital LLC TRC increased its stake in Byline Bancorp by 319.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock valued at $104,000 after acquiring an additional 2,973 shares during the period. Quadrant Capital Group LLC bought a new position in Byline Bancorp during the third quarter valued at about $174,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Byline Bancorp during the fourth quarter valued at about $206,000. 67.73% of the stock is currently owned by institutional investors.

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.