Byline Bancorp (BY) PT Raised to $34 at Stephens

Stephens analyst Terry McEvoy raised the price target on Byline Bancorp (NYSE: BY) to $34.00 (from $33.00) while maintaining a Equal Weight rating.

The analyst comments "Byline’s 4Q24 earnings easily beat consensus due to strength in fee income ($7 mil. of SBA loan sale gains) and 13bps of Q/Q NIM expansion. The ROA was an impressive ~1.30% in 4Q24 and 2024. Management welcomes a pick-up in bank M&A activity in their footprint, as the company has a proven track record of capitalizing on disruptions to add talent and clients. They also believe Byline remains an attractive partner for smaller banks looking to sell. Their pending deal with First Security Bank (loans ~$200 mil. and deposits ~$320 mil.) should close mid-year. Crossing the $10 bil. asset threshold is expected to occur in late 2025 or early 2026. In other news, the recent quarterly dividend increase to $0.10 matched our model. We maintain our EW rating on BY with a $34 price target (up from $33)."

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