Key Points
- Director Mary Jo Herseth purchased 300 shares of Byline Bancorp at $38.40 each, investing $11,520 and increasing her holdings by 1.6% to 19,100 shares.
- Byline Bancorp reported quarterly EPS of $0.91, beating estimates by $0.12, while revenue of $117.71 million also exceeded expectations.
- The company raised its quarterly dividend from $0.12 to $0.14 per share, equivalent to a $0.56 annualized payout and a 1.5% yield; analysts maintain a “Moderate Buy” consensus with a $43 average price target.
Byline Bancorp, Inc. (NYSE:BY - Get Free Report) Director Mary Jo Herseth bought 300 shares of Byline Bancorp stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average cost of $38.40 per share, with a total value of $11,520.00. Following the completion of the purchase, the director owned 19,100 shares in the company, valued at approximately $733,440. This trade represents a 1.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Byline Bancorp Price Performance
BY opened at $38.41 on Friday. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.60 and a beta of 0.71. The business's 50-day moving average price is $37.77 and its two-hundred day moving average price is $34.34. Byline Bancorp, Inc. has a 1 year low of $25.57 and a 1 year high of $40.03.
Byline Bancorp (NYSE:BY - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.79 by $0.12. The firm had revenue of $117.71 million for the quarter, compared to analysts' expectations of $115.78 million. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%. Sell-side analysts anticipate that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.
Byline Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. This is an increase from Byline Bancorp's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, August 4th. Byline Bancorp's payout ratio is 16.92%.
Institutional Investors Weigh In On Byline Bancorp
Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new position in shares of Byline Bancorp in the first quarter valued at about $1,466,000. Hsbc Holdings PLC increased its position in Byline Bancorp by 135.9% during the fourth quarter. Hsbc Holdings PLC now owns 70,502 shares of the company's stock worth $2,056,000 after acquiring an additional 40,613 shares during the period. Dimensional Fund Advisors LP raised its stake in Byline Bancorp by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company's stock worth $74,713,000 after purchasing an additional 36,598 shares in the last quarter. Denali Advisors LLC boosted its holdings in Byline Bancorp by 32.3% in the 4th quarter. Denali Advisors LLC now owns 125,752 shares of the company's stock valued at $3,666,000 after purchasing an additional 30,711 shares during the period. Finally, Fiducient Advisors LLC grew its position in shares of Byline Bancorp by 33.5% during the 4th quarter. Fiducient Advisors LLC now owns 81,767 shares of the company's stock worth $2,384,000 after purchasing an additional 20,517 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have commented on BY shares. Raymond James Financial assumed coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They set a "market perform" rating on the stock. Zacks Research downgraded Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their price target on Byline Bancorp from $37.00 to $41.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Hovde Group raised their price target on Byline Bancorp from $39.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Finally, Piper Sandler boosted their price target on Byline Bancorp from $40.00 to $46.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.00.
Get Our Latest Analysis on Byline Bancorp
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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