Byline Bancorp (NYSE:BY) Price Target Raised to $41.00

Byline Bancorp (NYSE:BY) had its price objective lifted by Keefe, Bruyette & Woods from $37.00 to $41.00 in a report released on Monday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other research analysts have also weighed in on BY. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Hovde Group raised their target price on Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday. Zacks Research lowered Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Piper Sandler increased their price target on shares of Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Raymond James Financial initiated coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Byline Bancorp Stock Down 0.2%

Byline Bancorp stock opened at $39.12 on Monday. The firm has a 50 day moving average price of $35.99 and a 200-day moving average price of $33.41. Byline Bancorp has a twelve month low of $25.38 and a twelve month high of $39.51. The company has a market capitalization of $1.78 billion, a P/E ratio of 11.82 and a beta of 0.72.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.94% and a net margin of 23.36%.The business had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. Equities analysts expect that Byline Bancorp will post 3.32 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s dividend payout ratio is currently 14.50%.

Institutional Investors Weigh In On Byline Bancorp

Several hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC grew its stake in Byline Bancorp by 83.1% in 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 in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Byline Bancorp by 15.1% during 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 in the last quarter. Royal Bank of Canada raised its position in shares of 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 buying an additional 859 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of 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 acquiring an additional 2,689 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Byline Bancorp by 16.1% during the 4th quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock worth $83,000 after acquiring an additional 398 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

About Byline Bancorp

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.