Byline Bancorp (NYSE:BY) Announces Earnings Results

Key Points

• Byline Bancorp beat earnings expectations, reporting quarterly EPS of $0.91 versus analysts’ estimate of $0.79. Revenue also came in ahead of forecasts at $117.71 million compared with $115.78 million expected.
• The company posted a return on equity of 11.56% and a net margin of 21.86%, indicating solid profitability for the quarter.
• Analysts currently hold a Moderate Buy consensus on BY, with a $36.00 average price target, while the stock traded near $37.62 after the earnings release.

Byline Bancorp (NYSE:BY - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.12, FiscalAI reports. The company had revenue of $117.71 million for the quarter, compared to analysts' expectations 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

NYSE BY traded down $0.13 on Thursday, reaching $37.62. The stock had a trading volume of 408,680 shares, compared to its average volume of 244,392. The firm has a fifty day moving average of $35.37 and a two-hundred day moving average of $33.10. Byline Bancorp has a 1-year low of $25.38 and a 1-year high of $38.88. The company has a market cap of $1.71 billion, a P/E ratio of 12.26 and a beta of 0.72.

Analyst Ratings Changes

A number of equities analysts recently commented on BY shares. Raymond James Financial initiated coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a "market perform" rating for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. 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, Zacks Research upgraded Byline Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust grew its position in Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company's stock worth $69,000 after buying an additional 313 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Byline Bancorp by 1,572.5% in the 3rd 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 in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Byline Bancorp by 319.3% during the 2nd 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 acquired a new stake in shares of Byline Bancorp during the 3rd quarter worth $174,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Byline Bancorp during the 4th quarter worth $206,000. 67.73% of the stock is owned by institutional investors.

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.

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