Byline Bancorp (NYSE:BY) Price Target Raised to $34.00

Byline Bancorp (NYSE:BY) had its price objective increased by equities research analysts at Hovde Group from $33.00 to $34.00 in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage presently has an “outperform” rating on the stock. Hovde Group’s price target suggests a potential upside of 16.50% from the stock’s current price.

Several other research firms have also weighed in on BY. Piper Sandler restated an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price target on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Byline Bancorp Stock Performance

NYSE BY opened at $29.19 on Monday. The stock has a market cap of $1.30 billion, a P/E ratio of 10.61 and a beta of 1.15. Byline Bancorp has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The stock has a 50 day simple moving average of $29.75 and a two-hundred day simple moving average of $28.02.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 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%. Sell-side analysts predict that Byline Bancorp will post 2.68 earnings per share for the current year.

Byline Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 5th that permits the company to repurchase 1,250,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Byline Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Byline Bancorp during the 2nd quarter valued at about $26,000. New York State Teachers Retirement System lifted its position in Byline Bancorp by 25.3% during 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 period. 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 purchasing an additional 4,222 shares during the last quarter. Quantbot Technologies LP bought a new stake in Byline Bancorp in the 3rd quarter worth approximately $127,000. Finally, Chicago Partners Investment Group LLC raised its stake in Byline Bancorp by 8.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock valued at $212,000 after buying an additional 619 shares during the last quarter. 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.