Byline Bancorp (NYSE:BY) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS
by Michael Walen · The Markets DailyByline 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 the consensus estimate of $0.74 by $0.09, FiscalAI reports. Byline Bancorp had a net margin of 20.54% and a return on equity of 11.19%. The firm had revenue of $112.40 million for the quarter, compared to analysts’ expectations of $113.89 million.
Byline Bancorp Trading Up 0.1%
NYSE:BY traded up $0.05 during trading hours on Thursday, hitting $33.14. The company had a trading volume of 122,417 shares, compared to its average volume of 185,742. The company has a market capitalization of $1.51 billion, a PE ratio of 11.51 and a beta of 0.81. The stock has a 50-day moving average price of $31.95 and a 200 day moving average price of $30.12. Byline Bancorp has a 52 week low of $24.75 and a 52 week high of $34.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.95 and a quick ratio of 0.95.
Analysts Set New Price Targets
Several research firms recently weighed in on BY. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price target on shares of Byline Bancorp in a report on Tuesday, January 27th. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Finally, Weiss Ratings reiterated 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.67.
Read Our Latest Analysis on Byline Bancorp
Institutional Trading of Byline Bancorp
Several large investors have recently added to or reduced their stakes in BY. AQR Capital Management LLC boosted its holdings in shares of Byline Bancorp by 34.4% during the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock valued at $3,610,000 after buying an additional 35,324 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Byline Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after buying an additional 770 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Byline Bancorp by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock valued at $1,995,000 after buying an additional 5,213 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of 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 in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Byline Bancorp by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock valued at $791,000 after buying an additional 712 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.
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.