Byline Bancorp, Inc. (NYSE:BY) Director Purchases $100,061.50 in Stock

Byline Bancorp, Inc. (NYSE:BY) Director Pamela C. Stewart purchased 3,850 shares of the stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $25.99 per share, with a total value of $100,061.50. Following the completion of the acquisition, the director now directly owns 6,336 shares in the company, valued at approximately $164,672.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Byline Bancorp Stock Performance

NYSE:BY traded up $0.30 during trading hours on Thursday, hitting $25.72. 128,024 shares of the company’s stock traded hands, compared to its average volume of 130,503. The firm has a market cap of $1.13 billion, a P/E ratio of 9.31 and a beta of 1.14. Byline Bancorp, Inc. has a twelve month low of $18.39 and a twelve month high of $29.49. The stock’s fifty day moving average price is $24.69 and its two-hundred day moving average price is $22.67.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $154.41 million for the quarter, compared to analyst estimates of $99.25 million. Byline Bancorp had a return on equity of 12.89% and a net margin of 19.42%. During the same period in the previous year, the firm earned $0.73 earnings per share. On average, equities research analysts predict that Byline Bancorp, Inc. will post 2.64 earnings per share for the current year.

Byline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.40%. The ex-dividend date is Tuesday, August 6th. Byline Bancorp’s payout ratio is currently 13.19%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $34.00 price objective (up from $27.00) on shares of Byline Bancorp in a research note on Wednesday, July 31st. Stephens boosted their price target on Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Hovde Group initiated coverage on Byline Bancorp in a research report on Monday, May 20th. They set an “outperform” rating and a $27.50 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Byline Bancorp by 104.5% during the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after acquiring an additional 676 shares during the last quarter. Innealta Capital LLC acquired a new stake in Byline Bancorp during the 2nd quarter valued at $48,000. Ashton Thomas Private Wealth LLC acquired a new stake in Byline Bancorp during the 2nd quarter valued at $61,000. nVerses Capital LLC acquired a new stake in Byline Bancorp during the 2nd quarter valued at $88,000. Finally, Comerica Bank increased its holdings in Byline Bancorp by 17,066.0% during the 1st quarter. Comerica Bank now owns 8,583 shares of the company’s stock valued at $186,000 after purchasing an additional 8,533 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.