Byline Bancorp (NYSE:BY) Announces Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Beat on EPS: Byline Bancorp reported adjusted EPS of $0.83, beating estimates by $0.09, while revenue of $112.4 million slightly missed the $113.9 million consensus; the quarter showed a 11.19% ROE and a 20.54% net margin.
• Minimal market reaction and valuation: Shares traded up about 0.1% to $33.14, with a P/E of 11.51 and a market capitalization near $1.51 billion.
• Analyst and ownership profile: The consensus is a "Moderate Buy" with an average price target of $33.67 (two Buy, two Hold), and roughly 67.73% of the stock is held by institutions.

Byline Bancorp (NYSE:BY - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.09, FiscalAI reports. The firm had revenue of $112.40 million during the quarter, compared to analysts' expectations of $113.89 million. Byline Bancorp had a return on equity of 11.19% and a net margin of 20.54%.

Byline Bancorp Stock Up 0.1%

NYSE BY traded up $0.05 during trading on Thursday, hitting $33.14. 122,411 shares of the company traded hands, compared to its average volume of 185,152. Byline Bancorp has a 12 month low of $24.75 and a 12 month high of $34.33. The business has a fifty day simple moving average of $31.95 and a 200 day simple moving average of $30.12. 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 company has a market capitalization of $1.51 billion, a P/E ratio of 11.51 and a beta of 0.81.

Hedge Funds Weigh In On Byline Bancorp

Several institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its holdings 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 buying an additional 313 shares in the last quarter. Invesco Ltd. increased its stake in shares of Byline Bancorp by 1.2% in the fourth quarter. Invesco Ltd. now owns 51,138 shares of the company's stock worth $1,491,000 after purchasing an additional 586 shares during the period. Legal & General Group Plc increased its stake in shares of Byline Bancorp by 2.5% in the second quarter. Legal & General Group Plc now owns 29,577 shares of the company's stock worth $791,000 after purchasing an additional 712 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Byline Bancorp by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 16,815 shares of the company's stock worth $449,000 after purchasing an additional 728 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Byline Bancorp by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company's stock worth $484,000 after purchasing an additional 770 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler reissued an "overweight" rating and set a $37.00 price objective on shares of Byline Bancorp in a research report on Tuesday, January 27th. Zacks Research lowered Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Friday, March 27th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Byline Bancorp in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.67.

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.

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