Byline Bancorp, Inc. (NYSE:BY) Announces Dividend Increase – $0.14 Per Share

Byline Bancorp, Inc. (NYSE:BY) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Tuesday, August 4th will be paid a dividend of 0.14 per share on Tuesday, August 18th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 4th. This is a 16.7% increase from Byline Bancorp’s previous quarterly dividend of $0.12.

Byline Bancorp has raised its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 1 years. Byline Bancorp has a dividend payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Byline Bancorp to earn $3.39 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 14.2%.

Byline Bancorp Stock Performance

Byline Bancorp stock opened at $37.62 on Friday. Byline Bancorp has a 52 week low of $25.38 and a 52 week high of $38.88. The stock has a market capitalization of $1.71 billion, a P/E ratio of 12.26 and a beta of 0.72. The stock has a fifty day moving average of $35.47 and a 200-day moving average of $33.16.

Byline Bancorp (NYSE:BY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%.The business had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. On average, research analysts forecast that Byline Bancorp will post 3.28 earnings per share for the current year.

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.