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

Byline Bancorp (NYSE:BY) issued its quarterly earnings results on Thursday. The company reported $0.94 earnings per share (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 Stock Performance

NYSE:BY traded up $0.56 during mid-day trading on Thursday, hitting $37.95. The company had a trading volume of 285,296 shares, compared to its average volume of 247,244. Byline Bancorp has a fifty-two week low of $26.39 and a fifty-two week high of $40.03. The firm has a market cap of $1.72 billion, a P/E ratio of 11.47 and a beta of 0.73. The business’s fifty day moving average is $37.78 and its two-hundred day moving average is $36.14.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BY. Stephens set a $40.00 price objective on Byline Bancorp in a report on Monday, July 27th. Keefe, Bruyette & Woods raised their target price on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Piper Sandler raised their target price on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Hovde Group lifted their price target on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Finally, Zacks Research downgraded shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling

In other news, insider Dana Rose sold 2,421 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $39.00, for a total value of $94,419.00. Following the completion of the sale, the insider directly owned 11,605 shares of the company’s stock, valued at $452,595. This represents a 17.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the company’s 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 sale, the insider directly owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. This trade 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 valued at $24,328,816 over the last 90 days. 29.09% of the stock is owned by corporate insiders.

Byline Bancorp Company Profile

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.