Byline Bancorp (NYSE:BY) Sets New 1-Year High – Time to Buy?

Byline Bancorp, Inc. (NYSE:BY) hit a new 52-week high during trading on Tuesday . The company traded as high as $34.66 and last traded at $34.7190, with a volume of 15042 shares changing hands. The stock had previously closed at $33.91.

Analyst Ratings Changes

A number of research analysts have commented on BY shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a report on Wednesday, May 13th. Piper Sandler upped their price objective on Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Zacks Research lowered Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Byline Bancorp Stock Performance

The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 11.31 and a beta of 0.75. The firm has a fifty day moving average price of $32.96 and a 200-day moving average price of $31.53.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $112.40 million for the quarter, compared to analyst estimates of $113.89 million. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%. On average, sell-side analysts forecast that Byline Bancorp, Inc. will post 3.28 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Byline Bancorp’s dividend payout ratio is 15.64%.

Institutional Trading of Byline Bancorp

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Byline Bancorp by 99.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after purchasing an additional 546 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of Byline Bancorp by 83.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after buying an additional 716 shares during the last quarter. Royal Bank of Canada lifted its position 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 buying an additional 859 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of 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 buying an additional 313 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Byline Bancorp by 1,572.5% during the 3rd 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 last quarter. 67.73% of the stock is 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.