Byline Bancorp (NYSE:BY) Sees Unusually-High Trading Volume – What’s Next?

Shares of Byline Bancorp, Inc. (NYSE:BY) saw unusually-strong trading volume on Monday . Approximately 445,307 shares traded hands during mid-day trading, an increase of 117% from the previous session’s volume of 205,590 shares.The stock last traded at $33.8950 and had previously closed at $33.78.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BY shares. Zacks Research downgraded shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Piper Sandler boosted their price target on shares of Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Byline Bancorp Stock Up 0.5%

The firm’s 50-day moving average price is $32.77 and its two-hundred day moving average price is $31.37. The firm has a market capitalization of $1.54 billion, a PE ratio of 11.05 and a beta of 0.75.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $112.40 million for the quarter, compared to the consensus estimate of $113.89 million. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. Equities research analysts forecast that Byline Bancorp, Inc. will post 3.28 EPS for the current year.

Byline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Byline Bancorp’s payout ratio is currently 15.64%.

Institutional Trading of Byline Bancorp

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Byline Bancorp by 99.5% in the third quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after acquiring an additional 546 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of Byline Bancorp by 83.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after buying an additional 716 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Byline Bancorp by 15.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after buying an additional 313 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Byline Bancorp by 58.3% in the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after buying an additional 859 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after buying an additional 2,689 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

About Byline Bancorp

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.