Byline Bancorp, Inc. (NYSE:BY) Stock Has Average Price Target of $43.00

Shares of Byline Bancorp, Inc. (NYSE:BY) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $43.00.

Several analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research report on Friday, August 7th. Piper Sandler lifted their price objective on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price objective 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. Zacks Research lowered shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Raymond James Financial assumed coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They set a “market perform” rating on the stock.

Byline Bancorp Trading Up 1.1%

Byline Bancorp stock traded up $0.40 during mid-day trading on Friday, hitting $37.30. The company had a trading volume of 237,220 shares, compared to its average volume of 252,792. Byline Bancorp has a 12-month low of $25.72 and a 12-month high of $40.03. The company’s fifty day moving average is $37.86 and its 200-day moving average is $35.99. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 11.27 and a beta of 0.73.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. The firm had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. As a group, sell-side analysts expect that Byline Bancorp will post 3.39 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Roberto R. Herencia sold 19,750 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $39.21, for a total value of $774,397.50. Following the completion of the sale, the chief executive officer directly owned 411,643 shares in the company, valued at $16,140,522.03. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dana Rose sold 2,421 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $39.00, for a total value of $94,419.00. Following the transaction, the insider directly owned 11,605 shares of the company’s stock, valued at approximately $452,595. The trade was a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 622,171 shares of company stock worth $24,328,816. Company insiders own 29.09% of the company’s stock.

Institutional Investors Weigh In On Byline Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Byline Bancorp in the 2nd quarter worth $132,220,000. Dimensional Fund Advisors LP increased its stake in Byline Bancorp by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock worth $74,713,000 after buying an additional 36,598 shares in the last quarter. Maltese Capital Management LLC raised its holdings in shares of Byline Bancorp by 23.3% during the fourth quarter. Maltese Capital Management LLC now owns 265,000 shares of the company’s stock valued at $7,725,000 after acquiring an additional 50,000 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Byline Bancorp during the first quarter valued at approximately $7,176,000. Finally, Empowered Funds LLC purchased a new position in shares of Byline Bancorp in the second quarter valued at approximately $8,031,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the parent company of Byline Bank, a community-focused commercial bank headquartered in Chicago, Illinois. The bank serves small and mid-sized businesses, commercial real estate investors, professional service firms and individual customers through a network of banking locations and digital services.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business lending, including Small Business Administration loans, and residential mortgage products.