What Makes Byline Bancorp (BY) a Strong Momentum Stock: Buy Now?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Byline Bancorp (BY) - Byline Bancorp currently holds a Momentum Style Score of B, indicating a positive outlook based on its price change and earnings estimate revisions [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Price Performance - Over the past week, BY shares increased by 0.73%, while the Zacks Banks - Northeast industry rose by 0.94% [5] - In a longer timeframe, BY's monthly price change is 15.46%, significantly outperforming the industry's 3.76% [5] - Over the last quarter, BY shares have risen by 9.39%, and over the past year, they have increased by 33.07%, compared to the S&P 500's gains of 5.76% and 28.32%, respectively [6] Trading Volume - BY's average 20-day trading volume is 102,589 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, three earnings estimates for BY have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $2.53 to $2.62 [9] - For the next fiscal year, three estimates have also moved upwards without any downward revisions [9] Conclusion - Considering the positive momentum indicators and earnings outlook, BY is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [10]