Byline Bancorp (NYSE:BY) Director Buys 300 Shares

Byline Bancorp, Inc. (NYSE:BY) Director Mary Jo Herseth bought 300 shares of Byline Bancorp stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $38.40 per share, with a total value of $11,520.00. Following the completion of the transaction, the director directly owned 19,100 shares in the company, valued at approximately $733,440. This trade represents a 1.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Byline Bancorp Trading Up 0.4%

Shares of BY stock traded up $0.15 during trading hours on Thursday, hitting $38.28. 127,973 shares of the company were exchanged, compared to its average volume of 243,105. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.56 and a beta of 0.71. The firm has a fifty day simple moving average of $37.70 and a 200 day simple moving average of $34.29. Byline Bancorp, Inc. has a 52-week low of $25.57 and a 52-week high of $40.03.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.The business had revenue of $117.71 million for the quarter, compared to the consensus estimate of $115.78 million. Sell-side analysts anticipate that Byline Bancorp, Inc. will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 4th. 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. Byline Bancorp’s payout ratio is currently 16.92%.

Hedge Funds Weigh In On Byline Bancorp

Several hedge funds have recently made changes to their positions in the stock. Clearstead Advisors LLC lifted its holdings in Byline Bancorp by 83.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after purchasing an additional 716 shares in the last quarter. Allworth Financial LP purchased a new position in Byline Bancorp during the 2nd quarter valued at about $61,000. Royal Bank of Canada increased its position in shares of Byline Bancorp by 58.3% during the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after buying an additional 859 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after buying an additional 313 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after buying an additional 2,689 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BY. Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Stephens set a $40.00 target price on shares of Byline Bancorp in a research report on Monday, July 27th. Raymond James Financial started coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They issued a “market perform” rating for the company. Hovde Group boosted their price target on shares of Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

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.