Byline Bancorp (NYSE:BY) Sets New 1-Year High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY)’s stock price reached a new 52-week high on Friday . The company traded as high as $34.10 and last traded at $34.3530, with a volume of 37469 shares. The stock had previously closed at $33.11.

Analysts Set New Price Targets

A number of research firms have weighed in on BY. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target on shares of Byline Bancorp in a research report on Tuesday, January 27th. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

Byline Bancorp Trading Up 1.6%

The company has a market cap of $1.53 billion, a price-to-earnings ratio of 11.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a fifty day moving average price of $31.94 and a 200 day moving average price of $29.94.

Byline Bancorp (NYSE:BY) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. The company had revenue of $117.01 million during the quarter, compared to the consensus estimate of $112.51 million. Byline Bancorp had a return on equity of 11.19% and a net margin of 20.54%. As a group, equities analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 3rd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, February 3rd. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.10. Byline Bancorp’s payout ratio is currently 16.67%.

Institutional Investors Weigh In On Byline Bancorp

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Byline Bancorp by 99.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock valued at $30,000 after buying an additional 546 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Byline Bancorp during the 3rd quarter valued at $46,000. Clearstead Advisors LLC increased its position in Byline Bancorp by 83.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after buying an additional 716 shares during the period. Parkside Financial Bank & Trust increased its position in Byline Bancorp by 15.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after buying an additional 313 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Byline Bancorp by 1,572.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after buying an additional 2,689 shares during the period. Institutional investors and hedge funds 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.