Byline Bancorp (NYSE:BY) Sets New 1-Year High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY) shares reached a new 52-week high on Monday . The stock traded as high as $38.83 and last traded at $37.02, with a volume of 444074 shares. The stock had previously closed at $37.44.

Wall Street Analyst Weigh In

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

Byline Bancorp Stock Performance

The company’s fifty day moving average price is $34.15 and its 200 day moving average price is $32.40. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 12.25 and a beta of 0.72.

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

Byline Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new stake in Byline Bancorp in the first quarter valued at $7,176,000. JPMorgan Chase & Co. boosted its holdings in shares of Byline Bancorp by 31.3% during the third quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock valued at $16,315,000 after acquiring an additional 140,219 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Byline Bancorp by 56.2% during the third quarter. Qube Research & Technologies Ltd now owns 358,536 shares of the company’s stock worth $9,942,000 after acquiring an additional 129,032 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Byline Bancorp by 64.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 276,181 shares of the company’s stock worth $8,051,000 after acquiring an additional 108,492 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Byline Bancorp by 16.7% in the 4th quarter. Federated Hermes Inc. now owns 573,652 shares of the company’s stock worth $16,722,000 after acquiring an additional 82,142 shares during the period. 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.