Byline Bancorp (NYSE:BY) Reaches New 1-Year High – Should You Buy?

Shares of Byline Bancorp, Inc. (NYSE:BY) hit a new 52-week high during trading on Tuesday . The stock traded as high as $34.66 and last traded at $34.7190, with a volume of 15042 shares changing hands. The stock had previously closed at $33.91.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BY shares. Piper Sandler raised their price target on shares of Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Finally, Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Byline Bancorp has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Byline Bancorp Trading Up 1.0%

The stock’s fifty day moving average price is $32.82 and its two-hundred day moving average price is $31.42. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 11.15 and a beta of 0.75.

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

Byline Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Byline Bancorp’s dividend payout ratio (DPR) is presently 15.64%.

Institutional Investors Weigh In On Byline Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of BY. AQR Capital Management LLC raised its holdings in shares of Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock valued at $3,610,000 after purchasing an additional 35,324 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Byline Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock worth $484,000 after acquiring an additional 770 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Byline Bancorp by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock worth $1,995,000 after acquiring an additional 5,213 shares in the last quarter. Jane Street Group LLC raised its stake in Byline Bancorp by 71.0% during the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock worth $3,989,000 after acquiring an additional 63,317 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Byline Bancorp by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock worth $791,000 after acquiring an additional 712 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.