Key Points
- Director Pamela Stewart purchased 1,160 Byline Bancorp shares for approximately $44,788, increasing her direct ownership by 18.31% to 7,496 shares.
- Byline Bancorp exceeded quarterly expectations, reporting $0.94 EPS versus an $0.82 consensus and revenue of $121.01 million. The company also declared a $0.14 quarterly dividend, equivalent to a 1.5% yield.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $43, while institutional investors own 67.73% of the stock.
Byline Bancorp, Inc. (NYSE:BY - Get Free Report) Director Pamela Stewart purchased 1,160 shares of the business's stock in a transaction dated Monday, October 26th. The stock was bought at an average cost of $38.61 per share, with a total value of $44,787.60. Following the completion of the acquisition, the director directly owned 7,496 shares of the company's stock, valued at approximately $289,420.56. This trade represents a 18.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.
Byline Bancorp Stock Performance
Shares of NYSE BY opened at $38.36 on Tuesday. The stock has a market cap of $1.73 billion, a PE ratio of 11.18 and a beta of 0.73. Byline Bancorp, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $40.03. The stock has a fifty day moving average of $37.73 and a 200-day moving average of $34.80.
Byline Bancorp (NYSE:BY - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.12. The business had revenue of $121.01 million for the quarter, compared to analysts' expectations of $116.88 million. Byline Bancorp had a return on equity of 12.04% and a net margin of 24.06%. On average, sell-side analysts predict that Byline Bancorp, Inc. will post 3.39 EPS for the current year.
Byline Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, November 3rd. Byline Bancorp's payout ratio is presently 16.33%.
Hedge Funds Weigh In On Byline Bancorp
A number of institutional investors have recently added to or reduced their stakes in BY. Allworth Financial LP raised its position in Byline Bancorp by 43.6% in the 2nd quarter. Allworth Financial LP now owns 1,617 shares of the company's stock worth $61,000 after purchasing an additional 491 shares during the period. Royal Bank of Canada lifted its stake in Byline Bancorp by 58.3% in the first quarter. Royal Bank of Canada now owns 2,332 shares of the company's stock worth $73,000 after purchasing an additional 859 shares during the last quarter. First Trust Advisors LP boosted its position in Byline Bancorp by 2.1% during the first quarter. First Trust Advisors LP now owns 86,509 shares of the company's stock valued at $2,731,000 after buying an additional 1,779 shares during the period. Nisa Investment Advisors LLC boosted its position in Byline Bancorp by 72.8% during the third quarter. Nisa Investment Advisors LLC now owns 4,422 shares of the company's stock valued at $163,000 after buying an additional 1,863 shares during the period. Finally, Susquehanna Fundamental Investments LLC boosted its position in Byline Bancorp by 11.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 28,053 shares of the company's stock valued at $1,056,000 after buying an additional 2,900 shares during the period. 67.73% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on BY shares. Keefe, Bruyette & Woods upped 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 objective on shares of Byline Bancorp from $39.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Byline Bancorp in a research note on Friday, August 7th. Zacks Research cut shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler upped their target price on shares of Byline Bancorp from $40.00 to $46.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.
Check Out Our Latest Research Report on Byline Bancorp
About Byline Bancorp
(
Get Free Report)
Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.
Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.
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