Byline Bancorp (NYSE:BY) Sets New 52-Week High – Should You Buy?

Byline Bancorp, Inc. (NYSE:BY) hit a new 52-week high on Monday . The company traded as high as $39.86 and last traded at $39.8230, with a volume of 12887 shares. The stock had previously closed at $39.27.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BY. Keefe, Bruyette & Woods lifted their price target on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Raymond James Financial initiated coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating for the company. Hovde Group boosted their target price 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, Stephens set a $40.00 price target on shares of Byline Bancorp in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Byline Bancorp Trading Up 0.5%

The business has a 50-day moving average of $36.24 and a two-hundred day moving average of $33.55. The firm has a market cap of $1.79 billion, a P/E ratio of 11.94 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The business had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. As a group, equities analysts expect that Byline Bancorp, Inc. will post 3.32 EPS for the current year.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders 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 is Tuesday, August 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. Byline Bancorp’s dividend payout ratio is presently 14.50%.

Hedge Funds Weigh In On Byline Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearstead Advisors LLC increased its position in Byline Bancorp by 83.1% during the 4th 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 period. Royal Bank of Canada raised its holdings in Byline Bancorp by 58.3% during the 1st 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 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 purchasing an additional 313 shares during the period. Russell Investments Group Ltd. lifted its position in shares of 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 boosted its stake 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 valued at $83,000 after purchasing an additional 398 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.