Byline Bancorp, Inc. (NYSE:BY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Byline Bancorp, Inc. (NYSE:BY) has received an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Three 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 brokers that have covered the stock in the last year is $43.00.

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a report on Wednesday, May 13th. Hovde Group lifted their price objective on Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Raymond James Financial began coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods upped their target price on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, Stephens set a $40.00 target price on Byline Bancorp in a research note on Monday, July 27th.

Byline Bancorp Price Performance

BY stock opened at $39.27 on Monday. The firm has a market cap of $1.78 billion, a PE ratio of 11.86 and a beta of 0.71. Byline Bancorp has a 12-month low of $25.38 and a 12-month high of $39.51. The business has a 50 day moving average of $36.24 and a 200-day moving average of $33.55.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.12. The firm had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a return on equity of 11.94% and a net margin of 23.36%. On average, research analysts expect that Byline Bancorp will post 3.32 earnings per share for the current year.

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be given a $0.14 dividend. The ex-dividend date is Tuesday, August 4th. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.4%. Byline Bancorp’s payout ratio is 14.50%.

Institutional Investors Weigh In On Byline Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Clearstead Advisors LLC lifted its holdings 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 in the last quarter. Parkside Financial Bank & Trust lifted its position in 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 boosted its stake in shares of Byline Bancorp by 58.3% during the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after purchasing an additional 859 shares during the period. Russell Investments Group Ltd. raised its holdings 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 period. Finally, New York State Teachers Retirement System lifted its position in shares of Byline Bancorp by 16.1% during the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock worth $83,000 after purchasing an additional 398 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.