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Investing.com - Keefe, Bruyette & Woods raised its price target on Byline Bancorp (NYSE:BY) to $32.00 from $31.00 on Monday, while maintaining a Market Perform rating on the stock.
The research firm cited Byline’s operating earnings of $0.83 per share, which exceeded expectations due to stronger pre-provision net revenue (PPNR), a lower provision, and a lower tax rate. The PPNR beat was attributed to stronger net interest income with net interest margin increasing by 9 basis points, along with improved fee income. InvestingPro data shows the bank maintains a GOOD Financial Health score, with revenue growing at 2.48% and offering a dividend yield of 1.53%.
Byline reported solid loan growth at 6% on a linked-quarter annualized basis, while deposit growth was more modest at 1%. Non-interest-bearing deposits drove the growth as brokered deposits declined during the quarter.
Credit quality improved quarter-over-quarter, which allowed for a lower provision. The firm noted that a better run rate on net interest margin and an improved outlook for fee income in 2026 and 2027 contributed to higher estimates.
Keefe, Bruyette & Woods raised its 2026 and 2027 estimates by 4% and 5% respectively, supporting the price target increase to $32.00.
In other recent news, Byline Bancorp reported strong financial results for the third quarter of 2025, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $0.82, which was higher than the anticipated $0.72, marking a 13.89% positive surprise. Revenue also exceeded forecasts, coming in at $116 million compared to the projected $111.25 million, a 4.04% increase. These results reflect positively on Byline Bancorp’s financial performance and have caught the attention of investors. The earnings announcement has been a significant highlight for the company, showcasing its ability to outperform market expectations. Analysts have taken note of these developments, though specific upgrades or downgrades were not mentioned in the available information. The company’s recent financial achievements are a focal point in the latest updates.
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