Stephens Issues Positive Forecast for Byline Bancorp (NYSE:BY) Stock Price

Byline Bancorp (NYSE:BY) had its price target upped by equities research analysts at Stephens from $33.00 to $34.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price target would suggest a potential upside of 14.93% from the company’s previous close.

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

Byline Bancorp Stock Up 1.1 %

BY stock traded up $0.31 during midday trading on Wednesday, hitting $29.58. The company’s stock had a trading volume of 3,749 shares, compared to its average volume of 138,299. Byline Bancorp has a 12 month low of $19.70 and a 12 month high of $32.89. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.73 and a beta of 1.15. The company has a 50 day moving average of $29.69 and a two-hundred day moving average of $28.08.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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, analysts anticipate that Byline Bancorp will post 2.68 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Byline Bancorp

Institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of Byline Bancorp during the second quarter valued at $26,000. New York State Teachers Retirement System grew its stake 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 valued at $76,000 after purchasing an additional 574 shares during the last quarter. US Bancorp DE boosted its holdings in Byline Bancorp by 995.8% in 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 in the last quarter. Quantbot Technologies LP acquired a new stake in Byline Bancorp in the third quarter worth about $127,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in Byline Bancorp by 8.5% in the third quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock worth $212,000 after acquiring an additional 619 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 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.