Byline Bancorp, Inc. (NYSE:BY) Receives $43.00 Consensus PT from Analysts

Shares of Byline Bancorp, Inc. (NYSE:BY) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $43.00.

Several research firms have recently weighed in on BY. Raymond James Financial assumed coverage on Byline Bancorp in a research report on Wednesday, July 8th. They set a “market perform” rating for the company. Hovde Group boosted their target price on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Piper Sandler lifted their price objective on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, July 27th.

Byline Bancorp Stock Performance

Shares of BY opened at $37.49 on Tuesday. The firm has a market cap of $1.69 billion, a P/E ratio of 11.33 and a beta of 0.71. Byline Bancorp has a twelve month low of $25.57 and a twelve month high of $40.03. The firm’s 50 day moving average price is $38.47 and its two-hundred day moving average price is $35.19.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. The firm had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. On average, sell-side analysts anticipate that Byline Bancorp will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

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

Insider Buying and Selling at Byline Bancorp

In related news, CEO Roberto R. Herencia sold 19,750 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $39.21, for a total transaction of $774,397.50. Following the sale, the chief executive officer owned 411,643 shares in the company, valued at approximately $16,140,522.03. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dana Rose sold 2,421 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total value of $94,419.00. Following the transaction, the insider directly owned 11,605 shares of the company’s stock, valued at $452,595. This trade represents a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 622,171 shares of company stock valued at $24,328,816. Corporate insiders own 29.09% of the company’s stock.

Institutional Investors Weigh In On Byline Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in BY. Sequoia Financial Advisors LLC bought a new position in shares of Byline Bancorp in the second quarter valued at $627,000. Integrated Wealth Concepts LLC acquired a new stake in Byline Bancorp in the second quarter valued at $130,000. Squarepoint Ops LLC bought a new position in shares of Byline Bancorp in the 2nd quarter valued at about $236,000. Allworth Financial LP increased its stake in shares of Byline Bancorp by 43.6% during the 2nd quarter. Allworth Financial LP now owns 1,617 shares of the company’s stock worth $61,000 after purchasing an additional 491 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in shares of Byline Bancorp in the 2nd quarter valued at about $233,000. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the parent company of Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The bank provides banking and financial services to small and medium-sized businesses, professionals, and individuals, with a focus on building long-term relationships in the communities it serves.

Byline Bank offers business and personal deposit accounts, commercial and industrial loans, commercial real estate financing, small business lending, residential and consumer loans, treasury management, and other cash-management services.