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

Shares of Byline Bancorp, Inc. (NYSE:BY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.92 and last traded at $35.9270, with a volume of 49521 shares. The stock had previously closed at $35.48.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BY shares. Piper Sandler upped their price objective on Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Byline Bancorp Stock Performance

The firm has a market capitalization of $1.62 billion, a P/E ratio of 11.67 and a beta of 0.75. The stock’s 50 day simple moving average is $33.42 and its 200 day simple moving average is $31.93.

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

Byline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, May 5th. Byline Bancorp’s dividend payout ratio is currently 15.64%.

Hedge Funds Weigh In On Byline Bancorp

Several institutional investors have recently made changes to their positions in BY. Dimensional Fund Advisors LP lifted its stake in Byline Bancorp by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock worth $74,713,000 after acquiring an additional 36,598 shares during the period. Vanguard Group Inc. increased its position in Byline Bancorp by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,822,619 shares of the company’s stock valued at $53,129,000 after purchasing an additional 47,798 shares during the period. State Street Corp increased its position in Byline Bancorp by 0.9% during the 4th quarter. State Street Corp now owns 997,040 shares of the company’s stock valued at $29,064,000 after purchasing an additional 8,994 shares during the period. American Century Companies Inc. raised its holdings in shares of Byline Bancorp by 9.3% in the 3rd quarter. American Century Companies Inc. now owns 803,287 shares of the company’s stock valued at $22,275,000 after purchasing an additional 68,230 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Byline Bancorp by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 764,144 shares of the company’s stock valued at $22,278,000 after purchasing an additional 13,810 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Company Profile

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.