Byline Bancorp (NYSE:BY) Receives New Coverage from Analysts at Hovde Group

Hovde Group started coverage on shares of Byline Bancorp (NYSE:BY) in a report published on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $27.50 price target on the stock.

BY has been the subject of several other research reports. Piper Sandler upped their price target on shares of Byline Bancorp from $27.00 to $28.00 and gave the company an overweight rating in a report on Tuesday, January 30th. Stephens reduced their target price on shares of Byline Bancorp from $26.00 to $25.00 and set an equal weight rating for the company in a report on Wednesday, April 3rd.

Byline Bancorp Stock Down 1.8 %

Byline Bancorp stock opened at $23.25 on Monday. The stock has a market capitalization of $1.03 billion, a PE ratio of 8.52 and a beta of 1.12. Byline Bancorp has a twelve month low of $17.49 and a twelve month high of $24.52. The company has a 50 day moving average of $21.68 and a 200-day moving average of $21.69.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Friday, April 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $153.79 million during the quarter, compared to analysts’ expectations of $97.35 million. Byline Bancorp had a net margin of 19.91% and a return on equity of 13.18%. During the same quarter in the prior year, the company earned $0.65 earnings per share. Equities analysts anticipate that Byline Bancorp will post 2.62 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.55%. The ex-dividend date was Monday, May 6th. Byline Bancorp’s dividend payout ratio (DPR) is currently 13.19%.

Insiders Place Their Bets

In related news, Director Valle Perochena Antonio Del acquired 7,103 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were bought at an average cost of $20.65 per share, with a total value of $146,676.95. Following the completion of the transaction, the director now directly owns 11,835,145 shares of the company’s stock, valued at $244,395,744.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Alberto J. Paracchini sold 2,100 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $21.19, for a total transaction of $44,499.00. Following the transaction, the president now directly owns 197,991 shares of the company’s stock, valued at $4,195,429.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Valle Perochena Antonio Del purchased 7,103 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $20.65 per share, for a total transaction of $146,676.95. Following the completion of the transaction, the director now owns 11,835,145 shares of the company’s stock, valued at approximately $244,395,744.25. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 10,060 shares of company stock valued at $208,084. 30.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Byline Bancorp

Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP grew its stake in Byline Bancorp by 24.7% during the third quarter. Quantbot Technologies LP now owns 3,831 shares of the company’s stock worth $76,000 after buying an additional 759 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Byline Bancorp during the fourth quarter worth about $194,000. Arizona State Retirement System acquired a new stake in Byline Bancorp during the fourth quarter worth about $201,000. Comerica Bank grew its stake in Byline Bancorp by 17,066.0% during the first quarter. Comerica Bank now owns 8,583 shares of the company’s stock worth $186,000 after buying an additional 8,533 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Byline Bancorp during the first quarter worth about $216,000. 67.73% of the stock is owned by institutional investors.

Byline Bancorp Company Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.