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

Byline Bancorp (NYSE:BY) released its quarterly earnings data on Thursday. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08, Zacks reports. Byline Bancorp had a net margin of 19.39% and a return on equity of 11.90%.

Byline Bancorp Trading Down 0.1 %

Shares of NYSE BY traded down $0.03 during mid-day trading on Thursday, hitting $28.24. The company had a trading volume of 226,292 shares, compared to its average volume of 127,664. Byline Bancorp has a one year low of $19.70 and a one year high of $32.89. The company has a market capitalization of $1.25 billion, a PE ratio of 10.27 and a beta of 1.15. The firm has a 50-day simple moving average of $29.85 and a two-hundred day simple moving average of $27.92.

Wall Street Analysts Forecast Growth

BY has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $34.00 price objective on shares of Byline Bancorp in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their target price on Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Byline Bancorp declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to repurchase 1,250,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About Byline Bancorp

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.