Is Byline Bancorp (BY) Outperforming Other Finance Stocks This Year?
The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Byline Bancorp (BY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Byline Bancorp is a member of the Finance sector. This group includes 868 individual stocks and currently holds a Zacks Sector Rank of #13. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Byline Bancorp is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for BY's full-year earnings has moved 10.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BY has moved about 4.4% on a year-to-date basis. At the same time, Finance stocks have gained an average of 4%. As we can see, Byline Bancorp is performing better than its sector in the calendar year.
Another stock in the Finance sector, HSBC (HSBC), has outperformed the sector so far this year. The stock's year-to-date return is 19.8%.
Over the past three months, HSBC's consensus EPS estimate for the current year has increased 22.1%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Byline Bancorp belongs to the Banks - Northeast industry, which includes 86 individual stocks and currently sits at #213 in the Zacks Industry Rank. Stocks in this group have lost about 1.5% so far this year, so BY is performing better this group in terms of year-to-date returns.
On the other hand, HSBC belongs to the Banks - Foreign industry. This 67-stock industry is currently ranked #28. The industry has moved +8.1% year to date.
Investors interested in the Finance sector may want to keep a close eye on Byline Bancorp and HSBC as they attempt to continue their solid performance.
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