Byline Bancorp (NYSE:BY) Sees Unusually-High Trading Volume – What’s Next?

Byline Bancorp, Inc. (NYSE:BY) shares saw an uptick in trading volume on Monday . 445,307 shares changed hands during trading, an increase of 117% from the previous session’s volume of 205,590 shares.The stock last traded at $33.8950 and had previously closed at $33.78.

Wall Street Analyst Weigh In

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

Byline Bancorp Trading Up 0.5%

The stock’s 50-day moving average price is $32.77 and its 200-day moving average price is $31.37. The company has a market capitalization of $1.54 billion, a P/E ratio of 11.05 and a beta of 0.75.

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

Byline Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Byline Bancorp’s dividend payout ratio (DPR) is presently 15.64%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its position in shares of Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after buying an additional 313 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Byline Bancorp by 16.1% in the 4th quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock worth $83,000 after buying an additional 398 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Byline Bancorp by 99.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after buying an additional 546 shares during the last quarter. Invesco Ltd. lifted its position in Byline Bancorp by 1.2% in the 4th quarter. Invesco Ltd. now owns 51,138 shares of the company’s stock valued at $1,491,000 after purchasing an additional 586 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Byline Bancorp by 3.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,586 shares of the company’s stock valued at $488,000 after purchasing an additional 588 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

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.