Byline Bancorp, Inc. (NYSE:BY) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Byline Bancorp, Inc. (NYSE:BY) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $43.00.

Several research firms have commented on BY. Stephens set a $40.00 target price on Byline Bancorp in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Raymond James Financial began coverage on shares of Byline Bancorp in a report on Wednesday, July 8th. They issued a “market perform” rating on the stock. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Piper Sandler raised their target price on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th.

Byline Bancorp Trading Down 1.6%

Shares of NYSE BY opened at $36.28 on Friday. The company has a fifty day moving average price of $38.11 and a 200 day moving average price of $35.78. The firm has a market cap of $1.64 billion, a PE ratio of 10.96 and a beta of 0.73. Byline Bancorp has a 1-year low of $25.57 and a 1-year high of $40.03.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The company had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%. Equities research analysts forecast that Byline Bancorp will post 3.36 EPS for the current year.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were given a dividend of $0.14 per share. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. Byline Bancorp’s payout ratio is presently 16.92%.

Insider Buying and Selling

In other news, CEO Roberto R. Herencia sold 19,750 shares of Byline Bancorp stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $39.21, for a total value of $774,397.50. Following the completion of the transaction, the chief executive officer owned 411,643 shares of the company’s stock, valued at $16,140,522.03. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dana Rose sold 2,421 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $39.00, for a total transaction of $94,419.00. Following the transaction, the insider owned 11,605 shares in the company, valued at $452,595. This represents a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 622,171 shares of company stock worth $24,328,816. 29.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Byline Bancorp

A number of institutional investors have recently bought and sold shares of the business. Allworth Financial LP acquired a new position in shares of Byline Bancorp during the 2nd quarter worth approximately $61,000. Royal Bank of Canada boosted its position in Byline Bancorp by 58.3% during the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after purchasing an additional 859 shares during the period. Integrated Wealth Concepts LLC bought a new position in Byline Bancorp during the second quarter worth $130,000. Globeflex Capital L P acquired a new position in shares of Byline Bancorp in the second quarter valued at $154,000. Finally, Corient Private Wealth LP acquired a new position in shares of Byline Bancorp in the second quarter valued at $233,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the parent company of Byline Bank, a community-focused commercial bank headquartered in Chicago, Illinois. The bank serves small and mid-sized businesses, commercial real estate investors, professional service firms and individual customers through a network of banking locations and digital services.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business lending, including Small Business Administration loans, and residential mortgage products.