Byline Bancorp, Inc. (BY) To Go Ex-Dividend on November 3rd

Byline Bancorp, Inc. (NYSE:BY) declared a quarterly dividend on Tuesday, October 6th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.14 per share on Tuesday, November 17th. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, November 3rd.

Byline Bancorp has increased its dividend by an average of 0.3% per year over the last three years and has increased its dividend every year for the last 1 years. Byline Bancorp has a dividend payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Byline Bancorp to earn $3.59 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 15.6%.

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $38.49 on Friday. The firm’s 50 day simple moving average is $37.72 and its 200-day simple moving average is $34.98. The firm has a market cap of $1.74 billion, a PE ratio of 11.22 and a beta of 0.73. Byline Bancorp has a one year low of $26.39 and a one year high of $40.03.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.12. The company had revenue of $121.01 million for the quarter, compared to the consensus estimate of $116.88 million. Byline Bancorp had a net margin of 24.06% and a return on equity of 12.04%. Equities research analysts predict that Byline Bancorp will post 3.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BY. Zacks Research raised shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. Raymond James Financial restated a “market perform” rating on shares of Byline Bancorp in a research note on Friday, October 23rd. Hovde Group lifted their price target on Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Piper Sandler lifted their price target on Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Byline Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.50.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.