Byline Bancorp (NYSE:BY) Posts Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• Byline Bancorp beat earnings expectations: The company reported quarterly EPS of $0.94, exceeding the $0.82 consensus estimate by $0.12. Its net margin was 23.36%, while return on equity reached 11.84%.
• Shares rose 1.5% to $37.95 following the results, giving Byline Bancorp a market capitalization of approximately $1.72 billion. The stock has traded between $26.39 and $40.03 over the past year.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $43.00. However, insiders sold more than 622,000 shares worth approximately $24.3 million over the past 90 days.

Byline Bancorp (NYSE:BY - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.82 by $0.12, FiscalAI reports. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.

Byline Bancorp Trading Up 1.5%

Byline Bancorp stock traded up $0.56 on Thursday, reaching $37.95. 285,294 shares of the stock were exchanged, compared to its average volume of 246,529. The firm has a fifty day moving average price of $37.78 and a two-hundred day moving average price of $36.14. Byline Bancorp has a twelve month low of $26.39 and a twelve month high of $40.03. The stock has a market cap of $1.72 billion, a PE ratio of 11.47 and a beta of 0.73.

Insiders Place Their Bets

In other news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of Byline Bancorp stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.10, for a total value of $11,730,000.00. Following the completion of the transaction, the insider owned 11,535,145 shares of the company's stock, valued at $451,024,169.50. This trade represents a 2.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Antonio del Valle Perochena sold 300,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the transaction, the director directly owned 11,535,145 shares in the company, valued at $451,024,169.50. This represents a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 622,171 shares of company stock worth $24,328,816 over the last ninety days. Company insiders own 29.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BY. Stephens set a $40.00 target price on shares of Byline Bancorp in a research report on Monday, July 27th. Zacks Research cut shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their target price on Byline Bancorp from $37.00 to $41.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Byline Bancorp in a report on Friday, August 7th. Finally, Hovde Group raised their price objective on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.

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