Key Points
- Insider sale: Dana Rose sold 2,421 Byline Bancorp shares at an average price of $39, generating $94,419. After the transaction, Rose retained 11,605 shares, a 17.26% reduction in ownership.
- Strong quarterly results: Byline Bancorp reported quarterly EPS of $0.91, beating estimates of $0.79, while revenue of $117.71 million also exceeded expectations.
- Dividend and analyst outlook: The company raised its quarterly dividend to $0.14 per share, equivalent to a 1.4% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $43 compared with the stock’s recent price near $39.
Byline Bancorp, Inc. (NYSE:BY - Get Free Report) insider Dana Rose sold 2,421 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total value of $94,419.00. Following the sale, the insider owned 11,605 shares in the company, valued at approximately $452,595. The trade was a 17.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Byline Bancorp Stock Up 1.0%
NYSE BY opened at $39.18 on Thursday. The stock has a market cap of $1.77 billion, a PE ratio of 11.84 and a beta of 0.71. Byline Bancorp, Inc. has a fifty-two week low of $25.57 and a fifty-two week high of $40.03. The business has a 50 day moving average price of $37.21 and a two-hundred day moving average price of $34.02.
Byline Bancorp (NYSE:BY - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. The company had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. Sell-side analysts anticipate that Byline Bancorp, Inc. will post 3.35 EPS for the current fiscal year.
Byline Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.14 per share. This is a positive change from Byline Bancorp's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.56 annualized dividend and a yield of 1.4%. Byline Bancorp's payout ratio is presently 16.92%.
Institutional Investors Weigh In On Byline Bancorp
Several hedge funds and other institutional investors have recently modified their holdings of BY. Clearstead Advisors LLC lifted its position in shares of Byline Bancorp by 83.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company's stock worth $46,000 after purchasing an additional 716 shares during the last quarter. Allworth Financial LP acquired a new stake in Byline Bancorp during the second quarter valued at approximately $61,000. Parkside Financial Bank & Trust lifted its holdings in 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. Royal Bank of Canada grew its position in shares of Byline Bancorp by 58.3% in the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company's stock worth $73,000 after acquiring an additional 859 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Byline Bancorp by 1,572.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company's stock worth $79,000 after acquiring an additional 2,689 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Wall Street Analyst Weigh In
BY has been the subject of several recent analyst reports. Raymond James Financial began coverage on Byline Bancorp in a research note on Wednesday, July 8th. They set a "market perform" rating for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Byline Bancorp in a research note on Friday, August 7th. Hovde Group increased their price target on Byline Bancorp from $39.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods raised their price objective on Byline Bancorp from $37.00 to $41.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Finally, Zacks Research downgraded Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Byline Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.
View Our Latest Research Report on BY
Byline Bancorp Company Profile
(
Get Free Report)
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.
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