Byline Bancorp (NYSE:BY) Director Mary Jo Herseth Acquires 300 Shares of Stock

Byline Bancorp, Inc. (NYSE:BY) Director Mary Jo Herseth purchased 300 shares of the stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average price of $38.40 per share, for a total transaction of $11,520.00. Following the acquisition, the director directly owned 19,100 shares of the company’s stock, valued at $733,440. This represents a 1.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Byline Bancorp Stock Performance

Shares of BY opened at $38.41 on Friday. Byline Bancorp, Inc. has a 52 week low of $25.57 and a 52 week high of $40.03. The company has a market capitalization of $1.74 billion, a PE ratio of 11.60 and a beta of 0.71. The company’s 50 day moving average price is $37.77 and its 200 day moving average price is $34.34.

Byline Bancorp (NYSE:BY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. The business had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. On average, equities analysts forecast that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 4th. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s payout ratio is 16.92%.

Institutional Trading of Byline Bancorp

A number of hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC grew its holdings in Byline Bancorp by 83.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock valued at $46,000 after purchasing an additional 716 shares during the period. Allworth Financial LP acquired a new position in Byline Bancorp in the second quarter valued at about $61,000. Royal Bank of Canada grew its stake in Byline Bancorp by 58.3% in the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after acquiring an additional 859 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Byline Bancorp by 15.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after acquiring an additional 313 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after acquiring an additional 2,689 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on BY. Raymond James Financial assumed coverage on Byline Bancorp in a research note on Wednesday, July 8th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods lifted their price target on Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Piper Sandler upped their price objective on Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Zacks Research downgraded shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Stephens set a $40.00 price objective on shares of Byline Bancorp in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.