Byline Bancorp, Inc. (NYSE:BY) Stock Has Consensus Target Price of $43.50 According to Brokerages

Byline Bancorp, Inc. (NYSE:BY) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $43.50.

Several analysts recently commented on BY shares. Hovde Group raised their target price on Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Weiss Ratings raised shares of Byline Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 29th. Piper Sandler lifted their price target on Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods raised their price objective on Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Stephens increased their target price on Byline Bancorp from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 28th.

Insiders Place Their Bets

In other Byline Bancorp news, Director Pamela Stewart purchased 1,160 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were purchased at an average cost of $38.61 per share, for a total transaction of $44,787.60. Following the completion of the transaction, the director owned 7,496 shares of the company’s stock, valued at $289,420.56. The trade was a 18.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Roberto Herencia sold 19,750 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 411,643 shares in the company, valued at approximately $16,140,522.03. This represents a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired a total of 1,560 shares of company stock worth $60,138 in the last 90 days. 29.09% of the stock is currently owned by insiders.

Institutional Trading of Byline Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP acquired a new position in Byline Bancorp during the 2nd quarter worth about $61,000. Royal Bank of Canada grew its stake in shares of 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 acquiring an additional 859 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Byline Bancorp during the second quarter worth $130,000. Globeflex Capital L P acquired a new position in Byline Bancorp during the 2nd quarter worth $154,000. Finally, Nisa Investment Advisors LLC raised its position in Byline Bancorp by 72.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,422 shares of the company’s stock valued at $163,000 after purchasing an additional 1,863 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Byline Bancorp Trading Down 0.1%

NYSE:BY opened at $38.79 on Wednesday. The company has a market capitalization of $1.75 billion, a P/E ratio of 11.31 and a beta of 0.72. Byline Bancorp has a 12 month low of $26.42 and a 12 month high of $40.03. The firm has a fifty day simple moving average of $37.79 and a 200-day simple moving average of $35.25.

Byline Bancorp (NYSE:BY) last issued its earnings results 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. Byline Bancorp had a return on equity of 12.06% and a net margin of 24.06%. The company had revenue of $121.01 million during the quarter, compared to analyst estimates of $116.88 million. Equities analysts forecast that Byline Bancorp will post 3.48 EPS for the current year.

Byline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, November 3rd. Byline Bancorp’s dividend payout ratio (DPR) is 16.33%.

About Byline Bancorp

Byline Bancorp is a bank holding company whose principal subsidiary, Byline Bank, provides banking and financial services to businesses, individuals and organizations. Its offerings include business and personal deposit accounts, lending, cash management and other banking services. The bank focuses on commercial banking, including commercial real estate and small-business lending, and also offers services such as treasury management and wealth management. It serves customers primarily in the Chicago metropolitan area and elsewhere in Illinois, with a presence in Wisconsin.