Byline Bancorp (NYSE:BY) Sets New 52-Week High – Still a Buy?

by · The Markets Daily

Byline Bancorp, Inc. (NYSE:BYGet Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $35.52 and last traded at $35.4710, with a volume of 189927 shares changing hands. The stock had previously closed at $35.40.

Wall Street Analysts Forecast Growth

BY has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Piper Sandler upped their price objective 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. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Byline Bancorp has an average rating of “Moderate Buy” and a consensus target price of $36.00.

View Our Latest Stock Report on Byline Bancorp

Byline Bancorp Stock Performance

The firm has a market cap of $1.60 billion, a PE ratio of 11.49 and a beta of 0.75. The company’s 50-day simple moving average is $33.10 and its two-hundred day simple moving average is $31.64.

Byline Bancorp (NYSE:BYGet Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $112.40 million during the quarter, compared to analysts’ expectations of $113.89 million. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. On average, analysts expect that Byline Bancorp, Inc. will post 3.28 EPS for the current year.

Byline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.48 annualized dividend and a yield of 1.4%. Byline Bancorp’s dividend payout ratio is presently 15.64%.

Institutional Trading of Byline Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Byline Bancorp by 31.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock worth $16,315,000 after purchasing an additional 140,219 shares during the period. American Century Companies Inc. lifted its position in shares of Byline Bancorp by 9.3% in the 3rd quarter. American Century Companies Inc. now owns 803,287 shares of the company’s stock worth $22,275,000 after purchasing an additional 68,230 shares during the period. Blair William & Co. IL lifted its position in shares of Byline Bancorp by 924.5% in the 3rd quarter. Blair William & Co. IL now owns 79,124 shares of the company’s stock worth $2,194,000 after purchasing an additional 71,401 shares during the period. Tudor Investment Corp ET AL lifted its position in shares of Byline Bancorp by 33.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 116,780 shares of the company’s stock worth $3,238,000 after purchasing an additional 29,008 shares during the period. Finally, Denali Advisors LLC lifted its position in shares of Byline Bancorp by 32.3% in the 4th quarter. Denali Advisors LLC now owns 125,752 shares of the company’s stock worth $3,666,000 after purchasing an additional 30,711 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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. 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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