Insider Buying: Byline Bancorp (NYSE:BY) Director Purchases $11,520.00 in Stock

Byline Bancorp, Inc. (NYSE:BY) Director Mary Jo Herseth purchased 300 shares of the stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $38.40 per share, for a total transaction of $11,520.00. Following the completion of the acquisition, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Byline Bancorp Price Performance

Shares of BY opened at $38.29 on Friday. Byline Bancorp, Inc. has a one year low of $25.57 and a one year high of $40.03. The firm has a market capitalization of $1.73 billion, a P/E ratio of 11.57 and a beta of 0.71. The business has a fifty day moving average of $37.83 and a 200 day moving average of $34.36.

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

Byline Bancorp Increases Dividend

The firm 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. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 4th. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s payout ratio is currently 16.92%.

Analysts Set New Price Targets

BY has been the topic of a number of research reports. Hovde Group raised 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research report on Friday, August 7th. Raymond James Financial initiated coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They set a “market perform” rating on the stock. Stephens set a $40.00 price objective on shares of Byline Bancorp in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods upped their price objective on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Inflows and Outflows

A number of hedge funds 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. Assenagon Asset Management S.A. purchased a new position in Byline Bancorp during the first quarter valued at approximately $7,176,000. Empowered Funds LLC purchased a new position in Byline Bancorp during the second quarter valued at approximately $8,031,000. Bank of New York Mellon Corp bought a new position in shares of Byline Bancorp in the second quarter worth approximately $6,294,000. Finally, Bank of America Corp DE bought a new position in shares of Byline Bancorp in the second quarter worth approximately $5,702,000. 67.73% of the stock is currently owned by institutional investors.

Byline Bancorp Company Profile

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.