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

Byline Bancorp (NYSE:BY) released its quarterly earnings results on Thursday. The company reported $0.69 EPS for the quarter, topping 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 Price Performance

Shares of BY stock opened at $28.24 on Friday. The company has a market capitalization of $1.25 billion, a P/E ratio of 10.27 and a beta of 1.15. The company’s 50-day simple moving average is $29.79 and its two-hundred day simple moving average is $27.92. Byline Bancorp has a one year low of $19.70 and a one year high of $32.89.

Byline Bancorp announced that its board has initiated a stock repurchase plan on Thursday, December 5th that authorizes the company to repurchase 1,250,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

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.