Byline Bancorp, Inc. (NYSE:BY) Stock Has Average Price Target of $43.50

Shares of Byline Bancorp, Inc. (NYSE:BY) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $43.50.

Several analysts have issued reports on BY shares. Raymond James Financial reaffirmed a “market perform” rating on shares of Byline Bancorp in a research note on Friday, October 23rd. Zacks Research upgraded shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 27th. Stephens lifted their price target on shares of Byline Bancorp from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Hovde Group boosted their price objective on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their price objective 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.

Insider Transactions at Byline Bancorp

In other news, CEO Roberto Herencia sold 19,750 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $39.21, for a total value of $774,397.50. Following the completion of the sale, the chief executive officer owned 411,643 shares of the company’s stock, valued at approximately $16,140,522.03. The trade was a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Antonio del Valle Perochena sold 300,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.10, for a total value of $11,730,000.00. Following the completion of the sale, the director directly owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. This trade represents a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 1,560 shares of company stock valued at $60,138 and have sold 622,171 shares valued at $24,328,816. Corporate insiders own 29.09% of the company’s stock.

Institutional Trading of Byline Bancorp

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Byline Bancorp in the 2nd quarter worth approximately $132,220,000. Dimensional Fund Advisors LP grew its position in shares of Byline Bancorp by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock worth $74,713,000 after buying an additional 36,598 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Byline Bancorp during the second quarter valued at approximately $8,031,000. Denali Advisors LLC increased its stake in shares of Byline Bancorp by 10.8% during the second quarter. Denali Advisors LLC now owns 185,516 shares of the company’s stock valued at $6,987,000 after buying an additional 18,100 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Byline Bancorp during the second quarter valued at approximately $6,294,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Stock Down 1.4%

NYSE BY opened at $38.52 on Wednesday. The stock’s 50-day simple moving average is $37.74 and its two-hundred day simple moving average is $35.06. Byline Bancorp has a twelve month low of $26.42 and a twelve month high of $40.03. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.23 and a beta of 0.72.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.12. The firm had revenue of $121.01 million during the quarter, compared to analyst estimates of $116.88 million. Byline Bancorp had a return on equity of 12.04% and a net margin of 24.06%. On average, equities analysts expect that Byline Bancorp will post 3.48 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, November 3rd. Byline Bancorp’s dividend payout ratio (DPR) is 16.33%.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.