Byline Bancorp (NYSE:BY) Releases Earnings Results, Beats Estimates By $0.12 EPS

Byline Bancorp (NYSE:BY) announced its quarterly earnings results on Thursday. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12, FiscalAI reports. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. The firm had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million.

Byline Bancorp Price Performance

Byline Bancorp stock opened at $37.62 on Friday. The stock’s 50 day moving average price is $35.47 and its 200 day moving average price is $33.16. Byline Bancorp has a 1-year low of $25.38 and a 1-year high of $38.88. The company has a market cap of $1.71 billion, a PE ratio of 12.26 and a beta of 0.72.

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, August 4th. Byline Bancorp’s dividend payout ratio (DPR) is presently 15.64%.

Institutional Trading of Byline Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its position in shares of Byline Bancorp by 15.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after acquiring an additional 313 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Byline Bancorp by 1,572.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after acquiring an additional 2,689 shares during the period. Tower Research Capital LLC TRC increased its stake in Byline Bancorp by 319.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock valued at $104,000 after purchasing an additional 2,973 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in Byline Bancorp in the 3rd quarter valued at approximately $174,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Byline Bancorp during the fourth quarter worth $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BY shares. Raymond James Financial initiated coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They issued a “market perform” rating for the company. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Finally, Piper Sandler raised their price target on Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.00.

Byline Bancorp Company Profile

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.