Byline Bancorp, Inc. (NYSE:BY) Increases Dividend to $0.12 Per Share

Byline Bancorp, Inc. (NYSE:BY) announced a quarterly dividend on Thursday, January 22nd. Stockholders of record on Tuesday, February 3rd will be paid a dividend of 0.12 per share on Tuesday, February 17th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 3rd. This is a 20.0% increase from Byline Bancorp’s previous quarterly dividend of $0.10.

Byline Bancorp has increased its dividend by an average of 0.6%per year over the last three years and has raised its dividend every year for the last 1 years. Byline Bancorp has a payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Byline Bancorp to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 14.4%.

Byline Bancorp Price Performance

Byline Bancorp stock opened at $31.73 on Friday. Byline Bancorp has a 12-month low of $22.63 and a 12-month high of $32.14. The stock has a market capitalization of $1.45 billion, a PE ratio of 11.29 and a beta of 0.86. The firm has a 50 day simple moving average of $29.40 and a 200-day simple moving average of $28.25.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, January 22nd. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Byline Bancorp had a return on equity of 11.26% and a net margin of 20.01%.The firm had revenue of $117.01 million during the quarter, compared to the consensus estimate of $112.51 million. On average, analysts forecast that Byline Bancorp will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 11th that permits the company to repurchase $2.25 million in shares. This repurchase authorization permits the company to reacquire up to 0.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.