Byline Bancorp (NYSE:BY) Sees Strong Trading Volume – What’s Next?

Shares of Byline Bancorp, Inc. (NYSE:BY) saw an uptick in trading volume on Monday . 445,307 shares were traded during trading, an increase of 117% from the previous session’s volume of 205,590 shares.The stock last traded at $33.8950 and had previously closed at $33.78.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BY shares. Zacks Research lowered shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Piper Sandler lifted 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, April 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.00.

Byline Bancorp Trading Up 0.1%

The business’s fifty day simple moving average is $32.89 and its 200-day simple moving average is $31.47. The firm has a market cap of $1.57 billion, a P/E ratio of 11.29 and a beta of 0.75.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. The company had revenue of $112.40 million during the quarter, compared to analyst estimates of $113.89 million. Analysts anticipate that Byline Bancorp, Inc. will post 3.28 earnings per share for the current year.

Byline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Byline Bancorp’s dividend payout ratio (DPR) is currently 15.64%.

Hedge Funds Weigh In On Byline Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in Byline Bancorp by 11.3% in the first quarter. Bank of America Corp DE now owns 135,836 shares of the company’s stock worth $4,288,000 after acquiring an additional 13,763 shares during the period. Royal Bank of Canada increased its position in Byline Bancorp by 58.3% during the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after purchasing an additional 859 shares during the period. Empowered Funds LLC increased its position in Byline Bancorp by 5.0% during the 1st quarter. Empowered Funds LLC now owns 202,525 shares of the company’s stock valued at $6,394,000 after purchasing an additional 9,600 shares during the period. Quantinno Capital Management LP raised its holdings in Byline Bancorp by 18.5% in the 1st quarter. Quantinno Capital Management LP now owns 19,396 shares of the company’s stock worth $612,000 after purchasing an additional 3,026 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Byline Bancorp by 2.1% in the 1st quarter. First Trust Advisors LP now owns 86,509 shares of the company’s stock worth $2,731,000 after purchasing an additional 1,779 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Company Profile

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.