Raymond James Financial Reaffirms “Market Perform” Rating for Byline Bancorp (NYSE:BY)

Byline Bancorp (NYSE:BY)‘s stock had its “market perform” rating reissued by analysts at Raymond James Financial in a note issued to investors on Wednesday,Benzinga reports.

A number of other equities research analysts have also weighed in on BY. Piper Sandler boosted their price objective on Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Finally, Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Byline Bancorp Price Performance

BY stock opened at $37.01 on Wednesday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 12.06 and a beta of 0.72. The company has a 50 day simple moving average of $34.31 and a 200 day simple moving average of $32.49. Byline Bancorp has a 1 year low of $25.38 and a 1 year high of $38.83.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $112.40 million for the quarter, compared to analyst estimates of $113.89 million. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. On average, equities research analysts anticipate that Byline Bancorp will post 3.28 EPS for the current fiscal year.

Institutional Trading of Byline Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new position in Byline Bancorp during the first quarter worth $7,176,000. JPMorgan Chase & Co. grew its holdings in Byline Bancorp by 31.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock worth $16,315,000 after acquiring an additional 140,219 shares during the period. Qube Research & Technologies Ltd grew its holdings in Byline Bancorp by 56.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 358,536 shares of the company’s stock worth $9,942,000 after acquiring an additional 129,032 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Byline Bancorp by 64.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 276,181 shares of the company’s stock worth $8,051,000 after acquiring an additional 108,492 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Byline Bancorp by 16.7% in the 4th quarter. Federated Hermes Inc. now owns 573,652 shares of the company’s stock worth $16,722,000 after acquiring an additional 82,142 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.