Byline Bancorp, Inc. (NYSE:BY) Plans Dividend Increase – $0.14 Per Share

Byline Bancorp, Inc. (NYSE:BY) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.14 per share on Tuesday, August 18th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 4th. This is a 16.7% increase from Byline Bancorp’s previous quarterly dividend of $0.12.

Byline Bancorp has increased its dividend by an average of 0.3%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Byline Bancorp has a dividend payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Byline Bancorp to earn $3.39 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 14.2%.

Byline Bancorp Stock Down 0.3%

Byline Bancorp stock opened at $37.62 on Friday. Byline Bancorp has a 12-month low of $25.38 and a 12-month high of $38.88. The firm’s fifty day moving average is $35.47 and its 200 day moving average is $33.16. The company has a market capitalization of $1.71 billion, a PE ratio of 12.26 and a beta of 0.72.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. The business had revenue of $117.71 million during the quarter, compared to analysts’ expectations of $115.78 million. Sell-side analysts expect that Byline Bancorp will post 3.28 EPS for the current fiscal year.

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.