Byline Bancorp (NYSE:BY) Hits New 12-Month High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $35.52 and last traded at $35.4710, with a volume of 189927 shares changing hands. The stock had previously closed at $35.40.

Analyst Upgrades and Downgrades

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

Byline Bancorp Trading Up 0.5%

The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.46 and a beta of 0.75. The firm has a 50-day moving average of $33.23 and a 200 day moving average of $31.73.

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

Byline Bancorp Dividend Announcement

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

Institutional Trading of Byline Bancorp

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

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.