Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Byline Bancorp (NYSE:BY) Stock

Key Points

• Keefe, Bruyette & Woods raised Byline Bancorp’s price target to $41 from $37 while maintaining a “market perform” rating, implying 6.14% upside from the prior close. The stock has an overall “Moderate Buy” consensus rating and an average target price of $42.
• Byline Bancorp reported quarterly EPS of $0.91, beating the $0.79 consensus estimate, while revenue of $117.71 million also exceeded expectations.
• Shares recently traded at $38.63, near their 52-week high of $39.51, and institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp (NYSE:BY - Get Free Report) had its target price raised by analysts at Keefe, Bruyette & Woods from $37.00 to $41.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 6.14% from the stock's previous close.

Several other equities analysts have also commented on BY. Weiss Ratings reissued a "buy (b)" rating on shares of Byline Bancorp in a report on Wednesday, May 13th. Hovde Group boosted their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday. Piper Sandler lifted their target price on Byline Bancorp from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Raymond James Financial assumed coverage on Byline Bancorp in a research report on Wednesday, July 8th. They issued a "market perform" rating for the company. Finally, Zacks Research lowered Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.00.

Byline Bancorp Price Performance

Shares of BY traded up $0.03 during mid-day trading on Monday, reaching $38.63. 32,845 shares of the company's stock were exchanged, compared to its average volume of 244,434. The stock has a market capitalization of $1.75 billion, a PE ratio of 11.65 and a beta of 0.72. Byline Bancorp has a 52-week low of $25.38 and a 52-week high of $39.51. The business's fifty day simple moving average is $35.60 and its 200-day simple moving average is $33.22.

Byline Bancorp (NYSE:BY - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.12. The firm 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 11.94% and a net margin of 23.36%. Equities research analysts predict that Byline Bancorp will post 3.28 earnings per share for the current year.

Institutional Investors Weigh In On Byline Bancorp

Institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC increased its position in Byline Bancorp by 83.1% in the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company's stock worth $46,000 after buying an additional 716 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Byline Bancorp by 15.1% in the 4th 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 during the period. Royal Bank of Canada lifted its holdings in shares of Byline Bancorp by 58.3% in the first quarter. Royal Bank of Canada now owns 2,332 shares of the company's stock valued at $73,000 after purchasing an additional 859 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Byline Bancorp by 1,572.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company's stock worth $79,000 after acquiring an additional 2,689 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Byline Bancorp by 16.1% during the 4th quarter. New York State Teachers Retirement System now owns 2,864 shares of the company's stock worth $83,000 after buying an additional 398 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.