Byline Bancorp, Inc. (NYSE:BY) to Issue Quarterly Dividend of $0.09

Byline Bancorp, Inc. (NYSE:BY) declared a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.09 per share on Tuesday, November 19th. This represents a $0.36 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, November 5th.

Byline Bancorp has increased its dividend by an average of 44.2% per year over the last three years. Byline Bancorp has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Byline Bancorp to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 14.1%.

Byline Bancorp Stock Up 1.2 %

Shares of NYSE:BY traded up $0.33 during trading on Friday, hitting $26.87. 313,204 shares of the company were exchanged, compared to its average volume of 133,969. The business’s 50 day moving average is $26.50 and its 200-day moving average is $24.69. The company has a market capitalization of $1.19 billion, a P/E ratio of 9.86 and a beta of 1.12. Byline Bancorp has a 1-year low of $18.63 and a 1-year high of $29.49.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The company had revenue of $154.41 million during the quarter, compared to the consensus estimate of $99.25 million. Byline Bancorp had a net margin of 19.42% and a return on equity of 12.69%. During the same period in the prior year, the business earned $0.73 earnings per share. As a group, sell-side analysts anticipate that Byline Bancorp will post 2.67 earnings per share for the current year.

Insider Buying and Selling at Byline Bancorp

In other Byline Bancorp news, insider Brogan Ptacin sold 11,812 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total transaction of $326,601.80. Following the sale, the insider now owns 25,588 shares of the company’s stock, valued at approximately $707,508.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Byline Bancorp news, insider John Barkidjija sold 1,488 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $29.26, for a total transaction of $43,538.88. Following the sale, the insider now owns 30,691 shares of the company’s stock, valued at approximately $898,018.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brogan Ptacin sold 11,812 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total transaction of $326,601.80. Following the sale, the insider now directly owns 25,588 shares in the company, valued at $707,508.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,309 shares of company stock valued at $1,131,254. 30.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BY has been the topic of several analyst reports. Stephens boosted their price objective on shares of Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $34.00 price objective (up previously from $27.00) on shares of Byline Bancorp in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Byline Bancorp Company Profile

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.