Byline Bancorp, Inc. (NYSE:BY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Byline Bancorp, Inc. (NYSE:BY) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $43.00.

Several equities analysts recently weighed in on BY shares. Piper Sandler raised their price target on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Zacks Research downgraded shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Hovde Group upped their price target on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Raymond James Financial started coverage on shares of Byline Bancorp in a report on Wednesday, July 8th. They issued a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, July 27th.

Insider Buying and Selling at Byline Bancorp

In other news, insider Dana Rose sold 2,421 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total transaction of $94,419.00. Following the completion of the sale, the insider directly owned 11,605 shares in the company, valued at approximately $452,595. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the completion of the transaction, the insider owned 11,535,145 shares of the company’s stock, valued at $451,024,169.50. This trade represents a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 622,171 shares of company stock valued at $24,328,816. Corporate insiders own 29.09% of the company’s stock.

Institutional Investors Weigh In On Byline Bancorp

Several hedge funds have recently added to or reduced their stakes in BY. Susquehanna Fundamental Investments LLC grew its holdings in shares of Byline Bancorp by 11.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 28,053 shares of the company’s stock valued at $1,056,000 after buying an additional 2,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Byline Bancorp by 5.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,133 shares of the company’s stock valued at $2,189,000 after buying an additional 3,145 shares during the period. Empowered Funds LLC bought a new position in Byline Bancorp in the 2nd quarter worth $8,031,000. Dearborn Partners LLC bought a new position in shares of Byline Bancorp during the 2nd quarter valued at approximately $241,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Byline Bancorp in the second quarter worth $418,000. 67.73% of the stock is owned by institutional investors.

Byline Bancorp Trading Up 0.7%

NYSE:BY opened at $38.41 on Friday. Byline Bancorp has a 1-year low of $25.57 and a 1-year high of $40.03. The stock’s 50-day moving average is $37.77 and its 200-day moving average is $34.34. The stock has a market cap of $1.74 billion, a P/E ratio of 11.60 and a beta of 0.71.

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 net margin of 23.36% and a return on equity of 11.84%. The company had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. As a group, equities analysts forecast that Byline Bancorp will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 4th. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s dividend payout ratio (DPR) is presently 16.92%.

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.