Byline Bancorp (NYSE:BY) Stock Price Expected to Rise, Stephens Analyst Says

Byline Bancorp (NYSE:BY) had its price objective increased by equities research analysts at Stephens from $33.00 to $34.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price target points to a potential upside of 15.03% from the stock’s previous close.

Several other equities research analysts have also commented on BY. Piper Sandler restated an “overweight” rating and issued a $34.00 price target on shares of Byline Bancorp in a report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group increased their target price on Byline Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday.

Byline Bancorp Stock Up 0.2 %

Shares of NYSE:BY opened at $29.56 on Wednesday. The business’s 50 day moving average is $29.62 and its 200 day moving average is $28.10. The stock has a market cap of $1.31 billion, a P/E ratio of 10.75 and a beta of 1.15. Byline Bancorp has a 52-week low of $19.70 and a 52-week high of $32.89.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Byline Bancorp had a return on equity of 11.90% and a net margin of 19.39%. On average, sell-side analysts anticipate that Byline Bancorp will post 2.68 EPS for the current fiscal year.

Byline Bancorp announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that permits the company to repurchase 1,250,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Byline Bancorp

Large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new position in Byline Bancorp during the 2nd quarter worth $26,000. New York State Teachers Retirement System boosted its holdings in Byline Bancorp by 25.3% in the third quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after acquiring an additional 574 shares in the last quarter. US Bancorp DE grew its stake in shares of Byline Bancorp by 995.8% during the third quarter. US Bancorp DE now owns 4,646 shares of the company’s stock worth $124,000 after acquiring an additional 4,222 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Byline Bancorp in the 3rd quarter valued at approximately $127,000. Finally, Oceanside Advisors LLC acquired a new stake in Byline Bancorp in the 4th quarter worth approximately $206,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Byline Bancorp Company Profile

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.