Byline Bancorp, Inc. (BY) – What Are Brokerages Thinking About This Stock?

Shares of Byline Bancorp, Inc. (NYSE:BY) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $43.50.

Several equities research analysts recently commented on BY shares. Hovde Group boosted their price objective on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods upped their price target on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 27th. Weiss Ratings upgraded Byline Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 29th. Finally, Piper Sandler boosted their target price on Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th.

Insider Buying and Selling

In related news, CEO Roberto Herencia sold 19,750 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $39.21, for a total transaction of $774,397.50. Following the sale, the chief executive officer directly owned 411,643 shares of the company’s stock, valued at approximately $16,140,522.03. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dana Rose sold 2,421 shares of the firm’s 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 sale, the insider owned 11,605 shares of the company’s stock, valued at approximately $452,595. This represents a 17.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 1,560 shares of company stock worth $60,138 and have sold 622,171 shares worth $24,328,816. 29.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Byline Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its position in Byline Bancorp by 2.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 10,098 shares of the company’s stock valued at $388,000 after acquiring an additional 267 shares in the last quarter. Allworth Financial LP boosted its stake in Byline Bancorp by 43.6% during the 2nd quarter. Allworth Financial LP now owns 1,617 shares of the company’s stock valued at $61,000 after purchasing an additional 491 shares during the last quarter. Royal Bank of Canada boosted its stake in Byline Bancorp by 58.3% during the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after purchasing an additional 859 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Byline Bancorp by 2.1% in the 1st quarter. First Trust Advisors LP now owns 86,509 shares of the company’s stock worth $2,731,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Byline Bancorp by 72.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,422 shares of the company’s stock worth $163,000 after purchasing an additional 1,863 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Price Performance

Shares of NYSE BY opened at $38.52 on Wednesday. Byline Bancorp has a 1 year low of $26.42 and a 1 year high of $40.03. The stock has a market capitalization of $1.74 billion, a P/E ratio of 11.23 and a beta of 0.72. The company’s 50-day moving average is $37.74 and its 200 day moving average is $35.06.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.12. Byline Bancorp had a return on equity of 12.04% and a net margin of 24.06%. The business had revenue of $121.01 million for the quarter, compared to analysts’ expectations of $116.88 million. Research analysts anticipate that Byline Bancorp will post 3.48 earnings per share for the current year.

Byline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, November 3rd. Byline Bancorp’s payout ratio is currently 16.33%.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.