Byline Bancorp (NYSE:BY) Given New $45.00 Price Target at Hovde Group

Byline Bancorp (NYSE:BY) had its target price boosted by research analysts at Hovde Group from $39.00 to $45.00 in a report issued on Monday. The firm presently has an “outperform” rating on the stock. Hovde Group’s price objective points to a potential upside of 16.45% from the stock’s current price.

A number of other analysts have also recently commented on BY. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Raymond James Financial initiated coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating on the stock. Zacks Research lowered shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, 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. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Byline Bancorp Stock Up 0.1%

NYSE BY opened at $38.64 on Monday. Byline Bancorp has a 52 week low of $25.38 and a 52 week high of $39.51. The company has a 50 day moving average price of $35.60 and a 200 day moving average price of $33.22. The firm has a market cap of $1.75 billion, a PE ratio of 11.67 and a beta of 0.72.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. The business had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. On average, equities research analysts anticipate that Byline Bancorp will post 3.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BY. Clearstead Advisors LLC increased its position in shares of Byline Bancorp by 83.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock valued at $46,000 after buying an additional 716 shares in the last quarter. Royal Bank of Canada grew its holdings in Byline Bancorp by 58.3% in the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after buying an additional 859 shares during the period. Parkside Financial Bank & Trust increased its position in Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after purchasing an additional 313 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Byline Bancorp by 1,572.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after buying an additional 2,689 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in shares of Byline Bancorp by 16.1% in the 4th quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock valued at $83,000 after purchasing an additional 398 shares in the last quarter. Hedge funds and other 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.