Byline Bancorp (NYSE:BY) Coverage Initiated by Analysts at Raymond James Financial

Raymond James Financial assumed coverage on shares of Byline Bancorp (NYSE:BY) in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage issued a market perform rating on the stock.

A number of other analysts also recently issued reports on BY. Zacks Research raised shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Finally, Piper Sandler increased their price target on Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Byline Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Byline Bancorp Price Performance

Shares of NYSE BY opened at $36.69 on Wednesday. Byline Bancorp has a one year low of $25.38 and a one year high of $38.83. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 11.95 and a beta of 0.72. The stock’s fifty day moving average price is $34.38 and its two-hundred day moving average price is $32.53.

Byline Bancorp (NYSE:BY) last announced 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 net margin of 21.86% and a return on equity of 11.56%. The company had revenue of $112.40 million during the quarter, compared to analysts’ expectations of $113.89 million. On average, equities analysts anticipate that Byline Bancorp will post 3.28 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th were given a dividend of $0.12 per share. 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 dividend payout ratio (DPR) is currently 15.64%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Byline Bancorp by 31.3% in the third quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock valued at $16,315,000 after purchasing an additional 140,219 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Byline Bancorp by 924.5% during the third quarter. Blair William & Co. IL now owns 79,124 shares of the company’s stock valued at $2,194,000 after acquiring an additional 71,401 shares during the last quarter. Denali Advisors LLC raised its stake in shares of Byline Bancorp by 32.3% during the fourth quarter. Denali Advisors LLC now owns 125,752 shares of the company’s stock valued at $3,666,000 after acquiring an additional 30,711 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Byline Bancorp by 33.0% during the third 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, SG Americas Securities LLC increased its holdings in Byline Bancorp by 89.6% in the fourth quarter. SG Americas Securities LLC now owns 35,731 shares of the company’s stock valued at $1,042,000 after purchasing an additional 16,881 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Byline Bancorp Company Profile

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.