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

Byline Bancorp (NYSE:BY - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.69 EPS for the quarter, beating the consensus estimate 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 Stock Performance

Shares of NYSE BY traded down $0.03 during midday trading on Thursday, reaching $28.24. 226,292 shares of the company's stock were exchanged, compared to its average volume of 127,123. Byline Bancorp has a 52-week low of $19.70 and a 52-week high of $32.89. The business's fifty day moving average price is $29.85 and its two-hundred day moving average price is $27.92. The stock has a market capitalization of $1.25 billion, a PE ratio of 10.27 and a beta of 1.15.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler reiterated an "overweight" rating and issued a $34.00 price target 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 company a "market perform" rating in a report on Wednesday, December 4th.

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.

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