Analysts Set Byline Bancorp, Inc. (NYSE:BY) Target Price at $43.00

Byline Bancorp, Inc. (NYSE:BY) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $43.00.

Several equities analysts have recently weighed in on BY shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research note on Friday, August 7th. Stephens set a $40.00 price objective on shares of Byline Bancorp in a research report on Monday, July 27th. Hovde Group upped their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Piper Sandler increased their target price on shares of Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research report on Monday, July 27th.

Byline Bancorp Stock Performance

NYSE BY opened at $38.18 on Friday. The company has a 50-day simple moving average of $38.08 and a 200 day simple moving average of $34.52. Byline Bancorp has a 52-week low of $25.57 and a 52-week high of $40.03. The company has a market capitalization of $1.73 billion, a PE ratio of 11.54 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.79 by $0.12. The business had revenue of $117.71 million for the quarter, compared to the consensus estimate of $115.78 million. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%. As a group, analysts forecast that Byline Bancorp will post 3.35 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s dividend payout ratio is presently 16.92%.

Insider Activity at Byline Bancorp

In related news, insider Dana Rose sold 2,421 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $39.00, for a total value of $94,419.00. Following the transaction, the insider owned 11,605 shares of the company’s stock, valued at $452,595. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.10, for a total value of $11,730,000.00. Following the transaction, the insider owned 11,535,145 shares in the company, valued at $451,024,169.50. This trade represents a 2.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 622,171 shares of company stock valued at $24,328,816 over the last ninety days. 29.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Byline Bancorp

Several institutional investors have recently bought and sold shares of BY. Parkside Financial Bank & Trust boosted its stake in shares of Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after purchasing an additional 313 shares during the period. New York State Teachers Retirement System boosted its position in shares of Byline Bancorp by 16.1% during the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock valued at $83,000 after purchasing an additional 398 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Byline Bancorp by 1.2% during the 4th quarter. Invesco Ltd. now owns 51,138 shares of the company’s stock valued at $1,491,000 after buying an additional 586 shares in the last quarter. Strs Ohio boosted its stake in Byline Bancorp by 5.4% during the fourth quarter. Strs Ohio now owns 11,700 shares of the company’s stock worth $341,000 after acquiring an additional 600 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Byline Bancorp by 2.7% in the 4th quarter. CWM LLC now owns 25,016 shares of the company’s stock worth $729,000 after purchasing an additional 657 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.