Weiss Ratings Reaffirms Buy (B-) Rating for Byline Bancorp (NYSE:BY)

Byline Bancorp (NYSE:BY)‘s stock had its “buy (b-)” rating reissued by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Byline Bancorp Price Performance

BY stock opened at $27.28 on Wednesday. The stock has a market capitalization of $1.25 billion, a P/E ratio of 10.18 and a beta of 0.86. The business has a 50-day moving average of $27.94 and a 200-day moving average of $26.77. Byline Bancorp has a fifty-two week low of $22.63 and a fifty-two week high of $32.89.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $110.45 million during the quarter, compared to analysts’ expectations of $106.95 million. Byline Bancorp had a return on equity of 10.98% and a net margin of 19.03%. Equities analysts expect that Byline Bancorp will post 2.6 EPS for the current year.

Insider Buying and Selling

In related news, insider Dana Rose sold 1,999 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $28.76, for a total transaction of $57,491.24. Following the completion of the transaction, the insider directly owned 10,192 shares of the company’s stock, valued at approximately $293,121.92. This represents a 16.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 28.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BY. T. Rowe Price Investment Management Inc. acquired a new position in Byline Bancorp during the first quarter valued at approximately $7,791,000. Nuveen LLC bought a new stake in Byline Bancorp in the first quarter valued at approximately $6,848,000. Endeavour Capital Advisors Inc. bought a new stake in Byline Bancorp in the second quarter valued at approximately $4,010,000. First Trust Advisors LP raised its stake in Byline Bancorp by 93.0% in the second quarter. First Trust Advisors LP now owns 163,685 shares of the company’s stock valued at $4,375,000 after buying an additional 78,870 shares during the period. Finally, Jane Street Group LLC raised its stake in Byline Bancorp by 71.0% in the first 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 during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

About Byline Bancorp

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.