Byline Bancorp (NYSE:BY) Reaches New 1-Year High – Should You Buy?

Byline Bancorp, Inc. (NYSE:BY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.66 and last traded at $34.7190, with a volume of 15042 shares. The stock had previously closed at $33.91.

Analyst Ratings Changes

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

Byline Bancorp Stock Performance

The stock has a market cap of $1.56 billion, a PE ratio of 11.15 and a beta of 0.75. The stock’s 50-day moving average is $32.82 and its two-hundred day moving average is $31.42.

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

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. Byline Bancorp’s dividend payout ratio (DPR) is presently 15.64%.

Hedge Funds Weigh In On Byline Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BY. AQR Capital Management LLC boosted its position in Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock valued at $3,610,000 after buying an additional 35,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Byline Bancorp by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after buying an additional 770 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Byline Bancorp by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock valued at $1,995,000 after buying an additional 5,213 shares during the period. Jane Street Group LLC boosted its position in Byline Bancorp by 71.0% in the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock valued at $3,989,000 after buying an additional 63,317 shares during the period. Finally, Legal & General Group Plc boosted its position in Byline Bancorp by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock valued at $791,000 after buying an additional 712 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.