Byline Bancorp (NYSE:BY) Hits New 1-Year High – Still a Buy?

Byline Bancorp, Inc. (NYSE:BY)’s share price reached a new 52-week high on Monday . The stock traded as high as $37.60 and last traded at $37.1270, with a volume of 313 shares traded. The stock had previously closed at $37.55.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Finally, Zacks Research upgraded Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Byline Bancorp has an average rating of “Buy” and a consensus price target of $36.00.

Byline Bancorp Stock Down 0.6%

The firm has a market capitalization of $1.70 billion, a P/E ratio of 12.16 and a beta of 0.75. The company has a fifty day simple moving average of $33.70 and a 200 day simple moving average of $32.14.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $112.40 million for the quarter, compared to the consensus estimate of $113.89 million. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. As a group, equities analysts expect that Byline Bancorp, Inc. will post 3.28 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, May 5th. Byline Bancorp’s dividend payout ratio is 15.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in shares of Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock worth $3,610,000 after purchasing an additional 35,324 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Byline Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after purchasing an additional 770 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Byline Bancorp by 7.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock valued at $1,995,000 after purchasing an additional 5,213 shares during the period. Jane Street Group LLC grew its holdings in Byline Bancorp by 71.0% during the first quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock valued at $3,989,000 after purchasing an additional 63,317 shares during the period. Finally, Legal & General Group Plc increased its position in Byline Bancorp by 2.5% in the second quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock worth $791,000 after buying an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.