Byline Bancorp (NYSE:BY) Receives Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Byline Bancorp (NYSE:BY) in a report released on Wednesday morning, Benzinga reports. They currently have a $34.00 price objective on the stock, up from their prior price objective of $27.00.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods increased their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the company a market perform rating in a report on Monday. Hovde Group initiated coverage on shares of Byline Bancorp in a report on Monday, May 20th. They set an outperform rating and a $27.50 price target on the stock. Finally, Stephens raised their price objective on shares of Byline Bancorp from $27.00 to $29.00 and gave the stock an equal weight rating in a research note on Tuesday.

Byline Bancorp Trading Up 0.1 %

Shares of BY opened at $28.04 on Wednesday. The business’s 50 day moving average is $24.32 and its 200 day moving average is $22.51. Byline Bancorp has a 12-month low of $18.39 and a 12-month high of $29.49. The company has a market capitalization of $1.24 billion, a PE ratio of 10.27 and a beta of 1.14.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Byline Bancorp had a net margin of 19.42% and a return on equity of 12.89%. The business had revenue of $154.41 million during the quarter, compared to analyst estimates of $99.25 million. During the same period last year, the firm posted $0.73 EPS. Equities research analysts predict that Byline Bancorp will post 2.63 earnings per share for the current year.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, August 6th. This represents a $0.36 dividend on an annualized basis and a yield of 1.28%. Byline Bancorp’s payout ratio is 13.19%.

Insiders Place Their Bets

In other Byline Bancorp news, insider John Barkidjija sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $22.64, for a total transaction of $226,400.00. Following the transaction, the insider now directly owns 30,691 shares in the company, valued at approximately $694,844.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 30.06% of the company’s stock.

Hedge Funds Weigh In On Byline Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Byline Bancorp by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,626,661 shares of the company’s stock worth $38,325,000 after buying an additional 68,552 shares during the period. Vanguard Group Inc. grew its stake in Byline Bancorp by 3.4% in the first quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock valued at $33,700,000 after purchasing an additional 51,682 shares during the last quarter. Mendon Capital Advisors Corp bought a new position in Byline Bancorp in the fourth quarter worth about $8,246,000. Federated Hermes Inc. lifted its position in shares of Byline Bancorp by 2.1% during the fourth quarter. Federated Hermes Inc. now owns 329,217 shares of the company’s stock valued at $7,756,000 after buying an additional 6,720 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Byline Bancorp by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 220,717 shares of the company’s stock valued at $5,200,000 after buying an additional 8,846 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Byline Bancorp Company Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.