Byline Bancorp (NYSE:BY) Price Target Increased to $29.00 by Analysts at Stephens

Byline Bancorp (NYSE:BY) had its target price upped by equities researchers at Stephens from $27.00 to $29.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price target suggests a potential upside of 3.02% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods raised their price objective on Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a report on Monday. Hovde Group started coverage on shares of Byline Bancorp in a research report on Monday, May 20th. They set an “outperform” rating and a $27.50 target price on the stock.

Byline Bancorp Price Performance

Shares of BY traded down $0.13 during midday trading on Tuesday, hitting $28.15. The stock had a trading volume of 10,177 shares, compared to its average volume of 125,354. Byline Bancorp has a 1 year low of $18.39 and a 1 year high of $29.49. The stock’s 50 day moving average is $24.24 and its 200 day moving average is $22.47. The firm has a market cap of $1.24 billion, a PE ratio of 10.31 and a beta of 1.14.

Byline Bancorp (NYSE:BY) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The company had revenue of $154.41 million during the quarter, compared to analysts’ expectations of $99.25 million. Byline Bancorp had a net margin of 19.42% and a return on equity of 12.89%. During the same period in the previous year, the company earned $0.73 EPS. As a group, equities research analysts expect that Byline Bancorp will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Byline Bancorp

In related news, insider John Barkidjija sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $22.64, for a total value of $226,400.00. Following the sale, the insider now owns 30,691 shares in the company, valued at $694,844.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. 30.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Byline Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its holdings in shares of Byline Bancorp by 2.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 24,330 shares of the company’s stock valued at $573,000 after purchasing an additional 570 shares in the last quarter. CWM LLC lifted its holdings in shares of Byline Bancorp by 104.5% in the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after purchasing an additional 676 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Byline Bancorp by 10.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company’s stock valued at $310,000 after buying an additional 1,277 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Byline Bancorp by 13.2% in the 2nd quarter. Principal Financial Group Inc. now owns 16,614 shares of the company’s stock valued at $394,000 after purchasing an additional 1,932 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Byline Bancorp in the second quarter valued at $48,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.