Byline Bancorp (NYSE:BY) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Byline Bancorp (NYSE:BY) had its price objective raised by analysts at Keefe, Bruyette & Woods from $37.00 to $41.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 6.14% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Hovde Group increased their target price on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Monday. Raymond James Financial assumed coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating on the stock. Piper Sandler lifted their price objective on Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Finally, Zacks Research lowered Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Byline Bancorp Trading Up 0.1%

Shares of BY traded up $0.03 during midday trading on Monday, reaching $38.63. 32,845 shares of the stock were exchanged, compared to its average volume of 244,434. The company has a market capitalization of $1.75 billion, a P/E 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 company’s 50 day moving average is $35.60 and its two-hundred day moving average is $33.22.

Byline Bancorp (NYSE:BY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. The firm had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. On average, sell-side analysts expect that Byline Bancorp will post 3.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Clearstead Advisors LLC grew its position in shares of Byline Bancorp by 83.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after buying an additional 716 shares in the last quarter. Parkside Financial Bank & Trust raised 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 purchasing an additional 313 shares in the last quarter. Royal Bank of Canada grew its stake in Byline Bancorp by 58.3% in the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after purchasing an additional 859 shares in the last quarter. Russell Investments Group Ltd. increased its holdings 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 valued at $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% in 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 during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

About Byline Bancorp

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.