Byline Bancorp, Inc. Plans Quarterly Dividend of $0.09 (NYSE:BY)

Byline Bancorp, Inc. (NYSE:BY) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Tuesday, May 7th will be given a dividend of 0.09 per share on Tuesday, May 21st. This represents a $0.36 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Monday, May 6th.

Byline Bancorp has raised its dividend payment by an average of 44.2% per year over the last three years. Byline Bancorp has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Byline Bancorp to earn $2.54 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 14.2%.

Byline Bancorp Price Performance

Shares of BY stock traded up $0.48 on Friday, reaching $23.28. The company’s stock had a trading volume of 97,299 shares, compared to its average volume of 92,955. The stock’s fifty day simple moving average is $20.94 and its 200-day simple moving average is $21.27. Byline Bancorp has a 1 year low of $16.40 and a 1 year high of $24.52. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.53 and a beta of 1.12. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35.

Byline Bancorp (NYSE:BY) last posted its earnings results on Friday, April 26th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $153.79 million for the quarter, compared to the consensus estimate of $97.35 million. Byline Bancorp had a net margin of 19.91% and a return on equity of 13.54%. During the same period in the previous year, the firm posted $0.65 EPS. Analysts forecast that Byline Bancorp will post 2.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Byline Bancorp

In related news, Director Ana Casanueva sold 1,500 shares of Byline Bancorp stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $21.54, for a total transaction of $32,310.00. Following the completion of the sale, the director now owns 2,131 shares in the company, valued at approximately $45,901.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Ana Casanueva sold 1,500 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $21.54, for a total transaction of $32,310.00. Following the transaction, the director now owns 2,131 shares of the company’s stock, valued at approximately $45,901.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Valle Perochena Antonio Del acquired 7,103 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $20.65 per share, with a total value of $146,676.95. Following the completion of the acquisition, the director now directly owns 11,835,145 shares of the company’s stock, valued at $244,395,744.25. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 10,585 shares of company stock valued at $218,810 and have sold 28,409 shares valued at $598,238. 35.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BY has been the topic of several analyst reports. Stephens cut their target price on Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. Piper Sandler raised their target price on shares of Byline Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th.

About Byline Bancorp

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.