Byline Bancorp, Inc. (NYSE:BY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Byline Bancorp, Inc. (NYSE:BY) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $43.00.

A number of equities research analysts have recently weighed in on BY shares. Keefe, Bruyette & Woods lifted their price objective on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Raymond James Financial initiated coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating for the company. Stephens set a $40.00 price objective on Byline Bancorp in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research note on Friday, August 7th.

Insider Buying and Selling at Byline Bancorp

In other Byline Bancorp news, Director Antonio del Valle Perochena sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the completion of the sale, the director directly owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Roberto Herencia sold 19,750 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $39.21, for a total value of $774,397.50. Following the completion of the sale, the chief executive officer owned 411,643 shares of the company’s stock, valued at $16,140,522.03. This trade represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 622,171 shares of company stock valued at $24,328,816 in the last ninety days. Corporate insiders own 29.09% of the company’s stock.

Institutional Trading of Byline Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of BY. Sequoia Financial Advisors LLC bought a new stake in Byline Bancorp during the second quarter valued at about $627,000. Integrated Wealth Concepts LLC purchased a new position in shares of Byline Bancorp in the second quarter valued at $130,000. Squarepoint Ops LLC purchased a new position in shares of Byline Bancorp in the 2nd quarter worth $236,000. Allworth Financial LP increased its stake in Byline Bancorp by 43.6% during the second quarter. Allworth Financial LP now owns 1,617 shares of the company’s stock worth $61,000 after acquiring an additional 491 shares during the last quarter. Finally, Corient Private Wealth LP bought a new position in shares of Byline Bancorp during the 2nd quarter valued at approximately $233,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Byline Bancorp Price Performance

Shares of NYSE:BY opened at $38.42 on Tuesday. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.61 and a beta of 0.71. Byline Bancorp has a one year low of $25.57 and a one year high of $40.03. The company’s fifty day moving average price is $38.41 and its 200-day moving average price is $34.99.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.12. The firm had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%. As a group, equities research analysts expect that Byline Bancorp will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, August 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s dividend payout ratio is presently 16.92%.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the parent company of Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The bank provides banking and financial services to small and medium-sized businesses, professionals, and individuals, with a focus on building long-term relationships in the communities it serves.

Byline Bank offers business and personal deposit accounts, commercial and industrial loans, commercial real estate financing, small business lending, residential and consumer loans, treasury management, and other cash-management services.