Byline Bancorp (NYSE:BY) Reaches New 12-Month High – Should You Buy?

Byline Bancorp, Inc. (NYSE:BY) hit a new 52-week high on Monday . The company traded as high as $39.86 and last traded at $39.8230, with a volume of 12887 shares traded. The stock had previously closed at $39.27.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Hovde Group lifted their target price on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Raymond James Financial assumed coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They issued a “market perform” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Finally, 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 report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Byline Bancorp Trading Down 0.1%

The company’s 50-day moving average is $36.50 and its 200 day moving average is $33.68. The stock has a market capitalization of $1.80 billion, a PE ratio of 12.01 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.12. The company had revenue of $117.71 million for the quarter, compared to the consensus estimate of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. Sell-side analysts forecast that Byline Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, August 4th. Byline Bancorp’s dividend payout ratio is presently 14.50%.

Hedge Funds Weigh In On Byline Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in Byline Bancorp by 15.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after acquiring an additional 313 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Byline Bancorp by 16.1% in the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock valued at $83,000 after purchasing an additional 398 shares during the period. Invesco Ltd. increased its holdings in shares of Byline Bancorp by 1.2% in the fourth quarter. Invesco Ltd. now owns 51,138 shares of the company’s stock valued at $1,491,000 after purchasing an additional 586 shares during the period. Strs Ohio raised its stake in shares of Byline Bancorp by 5.4% in the fourth quarter. Strs Ohio now owns 11,700 shares of the company’s stock worth $341,000 after purchasing an additional 600 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Byline Bancorp by 2.7% during the fourth quarter. CWM LLC now owns 25,016 shares of the company’s stock worth $729,000 after purchasing an additional 657 shares during the period. 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.