Byline Bancorp (NYSE:BY) Sees Large Volume Increase – Time to Buy?

Byline Bancorp, Inc. (NYSE:BY) saw strong trading volume on Friday . 275,021 shares traded hands during trading, an increase of 44% from the previous session’s volume of 190,877 shares.The stock last traded at $32.5450 and had previously closed at $32.15.

Analysts Set New Price Targets

A number of analysts recently issued reports on BY shares. Zacks Research lowered shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Piper Sandler raised their target price on shares of Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Byline Bancorp in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Byline Bancorp has an average rating of “Moderate Buy” and a consensus price target of $34.67.

Byline Bancorp Stock Performance

The stock’s 50-day moving average is $31.94 and its 200-day moving average is $30.32. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 10.57 and a beta of 0.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.95 and a quick ratio of 0.95.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $112.40 million for the quarter, compared to analyst estimates of $113.89 million. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.67%. Analysts anticipate that Byline Bancorp, Inc. will post 3.19 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, May 5th. Byline Bancorp’s dividend payout ratio (DPR) is 15.64%.

Hedge Funds Weigh In On Byline Bancorp

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Byline Bancorp by 31.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock valued at $16,315,000 after purchasing an additional 140,219 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Byline Bancorp by 9.3% in the 3rd quarter. American Century Companies Inc. now owns 803,287 shares of the company’s stock valued at $22,275,000 after purchasing an additional 68,230 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Byline Bancorp by 924.5% in the 3rd quarter. Blair William & Co. IL now owns 79,124 shares of the company’s stock valued at $2,194,000 after purchasing an additional 71,401 shares during the last quarter. CWM LLC boosted its holdings in shares of Byline Bancorp by 567.4% in the 3rd quarter. CWM LLC now owns 24,359 shares of the company’s stock valued at $675,000 after purchasing an additional 20,709 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Byline Bancorp by 69.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 40,894 shares of the company’s stock valued at $1,134,000 after purchasing an additional 16,747 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.