Byline Bancorp (NYSE:BY) Sets New 12-Month High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY) reached a new 52-week high on Monday . The stock traded as high as $42.00 and last traded at $37.8350, with a volume of 695 shares changing hands. The stock had previously closed at $38.30.

Analysts Set New Price Targets

Several equities analysts have commented on BY shares. Raymond James Financial initiated coverage on Byline Bancorp in a research report on Wednesday, July 8th. They issued a “market perform” rating for the company. Hovde Group upped their price objective on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Stephens set a $40.00 target price on shares of Byline Bancorp in a research report on Monday, July 27th. Finally, Zacks Research lowered shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Byline Bancorp Price Performance

The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 11.56 and a beta of 0.71. The firm’s fifty day moving average is $38.14 and its 200-day moving average is $34.55.

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

Byline Bancorp Increases Dividend

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

Insiders Place Their Bets

In other Byline Bancorp news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the transaction, the insider directly owned 11,535,145 shares in the company, valued at approximately $451,024,169.50. This represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Valle Perochena Antonio Del sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the sale, the director directly owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. This trade represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 622,171 shares of company stock valued at $24,328,816. Company insiders own 29.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC increased its stake in Byline Bancorp by 83.1% in 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 in the last quarter. Allworth Financial LP acquired a new stake in shares of Byline Bancorp in the 2nd quarter valued at about $61,000. Parkside Financial Bank & Trust grew its stake in shares of Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after buying an additional 313 shares during the period. Royal Bank of Canada increased its position in Byline Bancorp by 58.3% in the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after buying an additional 859 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Byline Bancorp by 1,572.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after buying an additional 2,689 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

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.