Mary Jo Herseth Buys 300 Shares of Byline Bancorp (NYSE:BY) Stock

Byline Bancorp, Inc. (NYSE:BY) Director Mary Jo Herseth acquired 300 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was acquired at an average cost of $38.40 per share, with a total value of $11,520.00. Following the acquisition, the director directly owned 19,100 shares in the company, valued at approximately $733,440. This trade represents a 1.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Byline Bancorp Trading Down 0.1%

Shares of BY opened at $38.29 on Friday. Byline Bancorp, Inc. has a 12 month low of $25.57 and a 12 month high of $40.03. The firm’s 50 day moving average is $37.83 and its 200-day moving average is $34.36. The stock has a market capitalization of $1.73 billion, a PE ratio of 11.57 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The company had revenue of $117.71 million during 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 11.84%. Equities research analysts predict that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.56 annualized dividend and a yield of 1.5%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s payout ratio is presently 16.92%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler increased 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. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Hovde Group upped their price objective on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Stephens set a $40.00 price objective on shares of Byline Bancorp in a research note on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BY. Principal Financial Group Inc. bought a new stake in Byline Bancorp during the 1st quarter worth $1,466,000. Hsbc Holdings PLC raised its position in Byline Bancorp by 135.9% in the fourth quarter. Hsbc Holdings PLC now owns 70,502 shares of the company’s stock valued at $2,056,000 after purchasing an additional 40,613 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Byline Bancorp by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock valued at $74,713,000 after purchasing an additional 36,598 shares in the last quarter. Denali Advisors LLC boosted its stake in shares of Byline Bancorp by 32.3% during the fourth quarter. Denali Advisors LLC now owns 125,752 shares of the company’s stock valued at $3,666,000 after purchasing an additional 30,711 shares in the last quarter. Finally, Fiducient Advisors LLC grew its holdings in shares of Byline Bancorp by 33.5% during the fourth quarter. Fiducient Advisors LLC now owns 81,767 shares of the company’s stock worth $2,384,000 after purchasing an additional 20,517 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.