Byline Bancorp (NYSE:BY) Hits New 12-Month High – Here’s Why

Shares of Byline Bancorp, Inc. (NYSE:BY) reached a new 52-week high on Monday . The company traded as high as $37.60 and last traded at $37.1270, with a volume of 313 shares trading hands. The stock had previously closed at $37.55.

Analyst Ratings Changes

A number of research analysts recently issued reports on BY shares. Piper Sandler boosted their price objective on Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Finally, Zacks Research raised shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Byline Bancorp has an average rating of “Buy” and an average target price of $36.00.

Byline Bancorp Trading Down 0.6%

The firm has a market cap of $1.70 billion, a PE ratio of 12.16 and a beta of 0.75. The stock has a 50 day simple moving average of $33.70 and a 200-day simple moving average of $32.14.

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

Byline Bancorp Announces Dividend

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

Institutional Trading of Byline Bancorp

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Byline Bancorp by 1.6% during 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 last quarter. Vanguard Group Inc. lifted its stake in shares of Byline Bancorp by 2.7% in 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 last quarter. State Street Corp boosted its holdings in shares of Byline Bancorp by 0.9% in the 4th quarter. State Street Corp now owns 997,040 shares of the company’s stock worth $29,064,000 after purchasing an additional 8,994 shares during the period. American Century Companies Inc. boosted 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 worth $22,275,000 after purchasing an additional 68,230 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Byline Bancorp by 1.8% during 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 during the last quarter. 67.73% of the stock is currently owned by institutional investors.

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.