Byline Bancorp, Inc. (NYSE:BY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Byline Bancorp, Inc. (NYSE:BY) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $39.00.

A number of equities analysts recently issued reports on the stock. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Piper Sandler raised their price objective 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a report on Wednesday, May 13th. Hovde Group upped their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Raymond James Financial assumed coverage on shares of Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating on the stock.

Byline Bancorp Trading Up 0.7%

Byline Bancorp stock traded up $0.26 during mid-day trading on Monday, hitting $38.86. The company had a trading volume of 13,874 shares, compared to its average volume of 244,385. The stock’s 50 day moving average price is $35.60 and its two-hundred day moving average price is $33.22. Byline Bancorp has a 12 month low of $25.38 and a 12 month high of $39.51. The company has a market capitalization of $1.76 billion, a PE ratio of 11.74 and a beta of 0.72.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.94% and a net margin of 23.36%.The firm had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. Equities research analysts anticipate that Byline Bancorp will post 3.28 EPS for the current year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be given a $0.14 dividend. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.56 annualized dividend and a yield of 1.4%. Byline Bancorp’s payout ratio is currently 14.50%.

Institutional Trading of Byline Bancorp

Large investors have recently made changes to their positions in the stock. Clearstead Advisors LLC raised its holdings in shares of Byline Bancorp by 83.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock valued at $46,000 after purchasing an additional 716 shares during the last quarter. Royal Bank of Canada boosted its holdings in Byline Bancorp by 58.3% in 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 last quarter. Parkside Financial Bank & Trust grew its position in 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 purchasing an additional 313 shares during the period. Russell Investments Group Ltd. grew its position in Byline Bancorp by 1,572.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after purchasing an additional 2,689 shares during the period. Finally, New York State Teachers Retirement System grew its position in 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 purchasing an additional 398 shares during the period. 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.