Byline Bancorp (NYSE:BY) Sets New 1-Year High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $38.83 and last traded at $37.02, with a volume of 444074 shares changing hands. The stock had previously closed at $37.44.

Analyst Upgrades and Downgrades

BY has been the topic of several analyst reports. 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 note on Monday, April 27th. Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.00.

Byline Bancorp Stock Up 0.7%

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 12.25 and a beta of 0.72. The stock’s 50 day moving average is $34.15 and its 200 day moving average is $32.40.

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

Byline Bancorp Announces Dividend

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. The ex-dividend date was Tuesday, May 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. Byline Bancorp’s dividend payout ratio is 15.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in Byline Bancorp in the first quarter worth about $7,176,000. JPMorgan Chase & Co. boosted its position in shares of Byline Bancorp by 31.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock valued at $16,315,000 after purchasing an additional 140,219 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Byline Bancorp by 56.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 358,536 shares of the company’s stock valued at $9,942,000 after purchasing an additional 129,032 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Byline Bancorp by 64.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 276,181 shares of the company’s stock worth $8,051,000 after purchasing an additional 108,492 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Byline Bancorp by 16.7% in the 4th quarter. Federated Hermes Inc. now owns 573,652 shares of the company’s stock worth $16,722,000 after purchasing an additional 82,142 shares during the last quarter. 67.73% of the stock is 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.