Byline Bancorp (NYSE:BY) Hits New 1-Year High – Here’s What Happened

Byline Bancorp, Inc. (NYSE:BY) shares reached a new 52-week high on Monday . The company traded as high as $38.83 and last traded at $37.02, with a volume of 444074 shares changing hands. The stock had previously closed at $37.44.

Analyst Ratings Changes

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

Byline Bancorp Price Performance

The stock’s 50 day simple moving average is $34.31 and its two-hundred day simple moving average is $32.49. The stock has a market capitalization of $1.68 billion, a PE ratio of 12.06 and a beta of 0.72.

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

Byline Bancorp Announces Dividend

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

Institutional Trading of Byline Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of BY. Empowered Funds LLC boosted its holdings in Byline Bancorp by 5.0% in the 1st quarter. Empowered Funds LLC now owns 202,525 shares of the company’s stock worth $6,394,000 after buying an additional 9,600 shares during the period. Bank of America Corp DE raised its position in shares of Byline Bancorp by 11.3% during the 1st quarter. Bank of America Corp DE now owns 135,836 shares of the company’s stock valued at $4,288,000 after buying an additional 13,763 shares in the last quarter. Royal Bank of Canada lifted its holdings 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 worth $73,000 after acquiring an additional 859 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Byline Bancorp by 18.5% during the 1st quarter. Quantinno Capital Management LP now owns 19,396 shares of the company’s stock worth $612,000 after acquiring an additional 3,026 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Byline Bancorp by 2.1% in the first quarter. First Trust Advisors LP now owns 86,509 shares of the company’s stock worth $2,731,000 after acquiring an additional 1,779 shares in the last quarter. 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.