Byline Bancorp (NYSE:BY) Reaches New 12-Month High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.59 and last traded at $32.51, with a volume of 2585 shares changing hands. The stock had previously closed at $31.94.

Analyst Ratings Changes

Several research firms have commented on BY. Piper Sandler restated an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 29th. Stephens boosted their price objective on shares of Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th.

Byline Bancorp Price Performance

The company’s 50-day simple moving average is $27.82 and its 200-day simple moving average is $26.03. The stock has a market capitalization of $1.41 billion, a P/E ratio of 11.55 and a beta of 1.12.

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a $0.09 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 annualized dividend and a yield of 1.13%. Byline Bancorp’s dividend payout ratio is 13.09%.

Insider Transactions at Byline Bancorp

In other news, insider Brogan Ptacin sold 11,812 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $27.65, for a total transaction of $326,601.80. Following the completion of the sale, the insider now owns 25,588 shares in the company, valued at approximately $707,508.20. This trade represents a 31.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 30.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Byline Bancorp

Several hedge funds have recently bought and sold shares of BY. Point72 Asset Management L.P. bought a new position in shares of Byline Bancorp during the second quarter worth approximately $26,000. CWM LLC boosted its stake in Byline Bancorp by 104.5% in the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after purchasing an additional 676 shares during the period. Innealta Capital LLC acquired a new position in Byline Bancorp in the 2nd quarter valued at $48,000. Ashton Thomas Private Wealth LLC bought a new position in Byline Bancorp during the 2nd quarter worth $61,000. Finally, New York State Teachers Retirement System lifted its holdings in shares of Byline Bancorp by 25.3% during the third quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after buying an additional 574 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

About Byline Bancorp

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.