Byline Bancorp (NYSE:BY) Now Covered by Analysts at Hovde Group

Hovde Group assumed coverage on shares of Byline Bancorp (NYSE:BY) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $27.50 price objective on the stock.

Several other research analysts have also weighed in on BY. Piper Sandler raised their price objective on shares of Byline Bancorp from $27.00 to $28.00 and gave the stock an overweight rating in a report on Tuesday, January 30th. Stephens decreased their price target on Byline Bancorp from $26.00 to $25.00 and set an equal weight rating for the company in a research note on Wednesday, April 3rd.

Byline Bancorp Stock Performance

Shares of BY opened at $23.67 on Monday. Byline Bancorp has a one year low of $17.49 and a one year high of $24.52. The stock has a 50-day moving average price of $21.62 and a 200 day moving average price of $21.68. The company has a market capitalization of $1.04 billion, a P/E ratio of 8.67 and a beta of 1.12.

Byline Bancorp (NYSE:BY) last released its earnings results on Friday, April 26th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $153.79 million during the quarter, compared to analysts’ expectations of $97.35 million. Byline Bancorp had a return on equity of 13.18% and a net margin of 19.91%. During the same period in the prior year, the business posted $0.65 EPS. As a group, equities research analysts forecast that Byline Bancorp will post 2.62 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Monday, May 6th. Byline Bancorp’s dividend payout ratio is presently 13.19%.

Insider Buying and Selling at Byline Bancorp

In other Byline Bancorp news, Director Valle Perochena Antonio Del purchased 7,103 shares of Byline Bancorp stock in a transaction dated Friday, March 1st. The shares were bought at an average cost of $20.65 per share, for a total transaction of $146,676.95. Following the transaction, the director now owns 11,835,145 shares in the company, valued at approximately $244,395,744.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Valle Perochena Antonio Del bought 7,103 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $20.65 per share, with a total value of $146,676.95. Following the completion of the acquisition, the director now owns 11,835,145 shares of the company’s stock, valued at $244,395,744.25. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dana Rose sold 4,809 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $21.05, for a total value of $101,229.45. Following the sale, the insider now owns 11,602 shares in the company, valued at $244,222.10. The disclosure for this sale can be found here. Insiders acquired a total of 10,060 shares of company stock worth $208,084 over the last 90 days. Insiders own 30.06% of the company’s stock.

Institutional Investors Weigh In On Byline Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its position in Byline Bancorp by 24.7% in the 3rd quarter. Quantbot Technologies LP now owns 3,831 shares of the company’s stock valued at $76,000 after purchasing an additional 759 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Byline Bancorp in the fourth quarter valued at approximately $194,000. Arizona State Retirement System bought a new stake in shares of Byline Bancorp during the fourth quarter valued at approximately $201,000. Comerica Bank boosted its position in shares of Byline Bancorp by 17,066.0% during the first quarter. Comerica Bank now owns 8,583 shares of the company’s stock worth $186,000 after buying an additional 8,533 shares during the period. Finally, Entropy Technologies LP bought a new position in Byline Bancorp in the 1st quarter worth approximately $216,000. 67.73% of the stock is currently owned by institutional investors.

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.