Byline Bancorp (NYSE:BY) Hits New 52-Week High – Here’s What Happened

Byline Bancorp, Inc. (NYSE:BY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $37.60 and last traded at $37.1270, with a volume of 313 shares. The stock had previously closed at $37.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Piper Sandler lifted their target price on shares of Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $36.00.

Byline Bancorp Trading Up 0.1%

The company has a 50 day moving average of $33.87 and a 200 day moving average of $32.25. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 12.27 and a beta of 0.75.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%.The firm had revenue of $112.40 million during the quarter, compared to analysts’ expectations of $113.89 million. Equities analysts forecast that Byline Bancorp, Inc. will post 3.28 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th were given a $0.12 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. Byline Bancorp’s payout ratio is currently 15.64%.

Institutional Trading of Byline Bancorp

A number of large investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its stake in Byline Bancorp by 15.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after buying an additional 313 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Byline Bancorp by 16.1% in the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock valued at $83,000 after buying an additional 398 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Byline Bancorp by 99.5% during the third quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after acquiring an additional 546 shares in the last quarter. Invesco Ltd. increased its position in shares of Byline Bancorp by 1.2% during the fourth quarter. Invesco Ltd. now owns 51,138 shares of the company’s stock worth $1,491,000 after acquiring an additional 586 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Byline Bancorp by 5.4% during the fourth quarter. Strs Ohio now owns 11,700 shares of the company’s stock worth $341,000 after acquiring an additional 600 shares during the period. 67.73% of the stock is owned by institutional investors.

About Byline Bancorp

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.