Byline Bancorp, Inc. (NYSE:BY – Get Free Report) Director Pamela Stewart bought 1,160 shares of Byline Bancorp stock in a transaction dated Monday, October 26th. The stock was purchased at an average price of $38.61 per share, with a total value of $44,787.60. Following the purchase, the director directly owned 7,496 shares in the company, valued at approximately $289,420.56. This trade represents a 18.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Byline Bancorp Stock Down 0.1%
Shares of NYSE:BY opened at $38.66 on Thursday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 11.27 and a beta of 0.73. The firm’s 50-day simple moving average is $37.71 and its 200-day simple moving average is $34.89. Byline Bancorp, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $40.03.
Byline Bancorp (NYSE:BY – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.12. The firm had revenue of $121.01 million during the quarter, compared to analysts’ expectations of $116.88 million. Byline Bancorp had a net margin of 24.06% and a return on equity of 12.04%. On average, research analysts forecast that Byline Bancorp, Inc. will post 3.42 EPS for the current year.
Byline Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 3rd. This represents a $0.56 annualized dividend and a yield of 1.4%. Byline Bancorp’s payout ratio is presently 16.33%.
Wall Street Analyst Weigh In
Several analysts have recently commented on BY shares. Keefe, Bruyette & Woods raised 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. Hovde Group upped their price objective on Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Stephens increased their price objective on Byline Bancorp from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Piper Sandler increased their price objective on Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $43.50.
Get Our Latest Report on Byline Bancorp
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Byline Bancorp in the 2nd quarter valued at approximately $132,220,000. Dimensional Fund Advisors LP raised its holdings in Byline Bancorp by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock worth $74,713,000 after purchasing an additional 36,598 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Byline Bancorp during the first quarter worth $7,176,000. Empowered Funds LLC acquired a new position in Byline Bancorp during the second quarter worth $8,031,000. Finally, Denali Advisors LLC boosted its position in Byline Bancorp by 10.8% during the second quarter. Denali Advisors LLC now owns 185,516 shares of the company’s stock worth $6,987,000 after purchasing an additional 18,100 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
About Byline Bancorp
Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.
Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.
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