Byline Bancorp (NYSE:BY) Posts Earnings Results, Beats Expectations By $0.08 EPS

Byline Bancorp (NYSE:BY) announced its quarterly earnings results on Thursday. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.08, Zacks reports. Byline Bancorp had a return on equity of 11.90% and a net margin of 19.39%.

Byline Bancorp Stock Down 0.1 %

Byline Bancorp stock traded down $0.03 during trading hours on Thursday, hitting $28.24. 226,292 shares of the company traded hands, compared to its average volume of 127,123. Byline Bancorp has a 1-year low of $19.70 and a 1-year high of $32.89. The firm has a market cap of $1.25 billion, a P/E ratio of 10.27 and a beta of 1.15. The firm’s 50-day simple moving average is $29.85 and its two-hundred day simple moving average is $27.92.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their target price on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Byline Bancorp declared that its Board of Directors has initiated a share buyback plan on Thursday, December 5th that authorizes the company to repurchase 1,250,000 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.