Hovde Group Begins Coverage on Byline Bancorp (NYSE:BY)

Research analysts at Hovde Group initiated coverage on shares of Byline Bancorp (NYSE:BYGet Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $27.50 price target on the stock. Hovde Group’s price objective indicates a potential upside of 16.18% from the company’s previous close.

A number of other equities research analysts also recently commented on BY. Stephens reduced their target price on Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. Piper Sandler lifted their target price on Byline Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th.

View Our Latest Report on Byline Bancorp

Byline Bancorp Stock Performance

Shares of Byline Bancorp stock opened at $23.67 on Monday. Byline Bancorp has a one year low of $17.49 and a one year high of $24.52. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 8.67 and a beta of 1.12. The business’s 50 day moving average price is $21.56 and its 200 day moving average price is $21.67.

Byline Bancorp (NYSE:BYGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Byline Bancorp had a return on equity of 13.18% and a net margin of 19.91%. The firm had revenue of $153.79 million for the quarter, compared to the consensus estimate of $97.35 million. During the same quarter last year, the business posted $0.65 earnings per share. On average, analysts predict that Byline Bancorp will post 2.62 EPS for the current fiscal year.

Insider Activity

In other news, President Alberto J. Paracchini sold 2,100 shares of Byline Bancorp stock in a transaction on Monday, February 26th. The stock was sold at an average price of $21.19, for a total value of $44,499.00. Following the completion of the sale, the president now directly owns 197,991 shares of the company’s stock, valued at $4,195,429.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, President Alberto J. Paracchini sold 2,100 shares of Byline Bancorp stock in a transaction on Monday, February 26th. The stock was sold at an average price of $21.19, for a total value of $44,499.00. Following the completion of the sale, the president now directly owns 197,991 shares of the company’s stock, valued at $4,195,429.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Alberto J. Paracchini sold 20,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.01, for a total value of $420,200.00. Following the transaction, the president now directly owns 205,537 shares of the company’s stock, valued at $4,318,332.37. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 10,060 shares of company stock valued at $208,084 and sold 26,909 shares valued at $565,928. Insiders own 30.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank grew its stake in Byline Bancorp by 17,066.0% during the 1st quarter. Comerica Bank now owns 8,583 shares of the company’s stock worth $186,000 after purchasing an additional 8,533 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Byline Bancorp by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock worth $33,700,000 after buying an additional 51,682 shares during the last quarter. Entropy Technologies LP purchased a new stake in Byline Bancorp during the 1st quarter worth about $216,000. Sei Investments Co. lifted its holdings in Byline Bancorp by 5.4% during the 1st quarter. Sei Investments Co. now owns 171,282 shares of the company’s stock worth $3,720,000 after buying an additional 8,847 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Byline Bancorp by 15.3% during the 1st quarter. Empowered Funds LLC now owns 136,681 shares of the company’s stock worth $2,969,000 after buying an additional 18,125 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

About Byline Bancorp

(Get Free Report)

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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