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

Key Points

• Byline Bancorp reported earnings of $0.83 per share, surpassing analysts' expectations by $0.12.
• Following the earnings release, Byline Bancorp's stock price decreased 0.7% to $26.74.
• Institutional investors own 67.73% of Byline Bancorp, with significant increases in holdings reported by First Trust Advisors and Thrivent Financial.

Byline Bancorp (NYSE:BY - Get Free Report) issued its earnings results on Thursday. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.12, Zacks reports. Byline Bancorp had a return on equity of 10.98% and a net margin of 19.03%.

Byline Bancorp Stock Down 0.7%

NYSE BY traded down $0.20 during mid-day trading on Thursday, hitting $26.74. The stock had a trading volume of 220,019 shares, compared to its average volume of 194,711. Byline Bancorp has a 52-week low of $22.63 and a 52-week high of $32.89. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 9.98 and a beta of 0.86. The company has a 50 day simple moving average of $28.06 and a 200 day simple moving average of $26.81.

Insiders Place Their Bets

In related news, insider Dana Rose sold 1,999 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $28.76, for a total value of $57,491.24. Following the completion of the transaction, the insider directly owned 10,192 shares of the company's stock, valued at $293,121.92. This trade represents a 16.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 28.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Byline Bancorp

A number of large investors have recently bought and sold shares of BY. First Trust Advisors LP grew its holdings in Byline Bancorp by 93.0% during the 2nd quarter. First Trust Advisors LP now owns 163,685 shares of the company's stock valued at $4,375,000 after buying an additional 78,870 shares during the last quarter. Jane Street Group LLC grew its holdings in Byline Bancorp by 71.0% during the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company's stock valued at $3,989,000 after buying an additional 63,317 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Byline Bancorp by 32.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 229,504 shares of the company's stock valued at $6,135,000 after buying an additional 55,677 shares during the last quarter. Marshall Wace LLP acquired a new stake in Byline Bancorp during the 2nd quarter valued at $1,250,000. Finally, Thrivent Financial for Lutherans grew its holdings in Byline Bancorp by 575.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 53,781 shares of the company's stock valued at $1,438,000 after buying an additional 45,822 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "buy (b-)" rating on shares of Byline Bancorp in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Byline Bancorp has an average rating of "Moderate Buy" and an average price target of $33.25.

Byline Bancorp Company Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.

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