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

Byline Bancorp (NYSE:BY) announced its earnings results on Thursday. The company reported $0.69 EPS for the quarter, topping 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 Down 0.1 %

Shares of NYSE BY traded down $0.03 during midday trading on Thursday, reaching $28.24. 226,292 shares of the company were exchanged, compared to its average volume of 127,664. The stock’s 50-day moving average price is $29.85 and its 200-day moving average price is $27.92. The stock has a market cap of $1.25 billion, a P/E ratio of 10.27 and a beta of 1.15. 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 authorized a share repurchase program on Thursday, December 5th that authorizes the company to buyback 1,250,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BY shares. Keefe, Bruyette & Woods lifted their price objective on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $34.00 price objective 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.