Byline Bancorp, Inc. (NYSE:BY) Announces $0.12 Quarterly Dividend

Key Points

• Byline Bancorp announced a $0.12 quarterly dividend, payable May 19 to shareholders of record on May 5, implying a $0.48 annualized dividend and a ~1.4% yield.
• The dividend appears well covered — the company has a payout ratio around 17.5% (with an expected future payout near 15.1%) and has modestly increased its dividend over recent years.
• Byline beat Q results on EPS, reporting $0.83 versus a $0.74 consensus while revenue of $112.4M slightly missed estimates; the stock trades at about a 11.5 P/E with a ~$1.5B market cap.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Tuesday, May 5th will be paid a dividend of 0.12 per share on Tuesday, May 19th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, May 5th.

Byline Bancorp has raised its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 1 years. Byline Bancorp has a dividend payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Byline Bancorp to earn $3.18 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 15.1%.

Byline Bancorp Price Performance

Shares of BY stock opened at $33.14 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.27. Byline Bancorp has a twelve month low of $24.75 and a twelve month high of $34.33. The company has a market cap of $1.50 billion, a P/E ratio of 11.51 and a beta of 0.81. The business has a fifty day simple moving average of $31.96 and a 200 day simple moving average of $30.14.

Byline Bancorp (NYSE:BY - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. Byline Bancorp had a return on equity of 11.19% and a net margin of 20.54%.The business had revenue of $112.40 million during the quarter, compared to the consensus estimate of $113.89 million. On average, sell-side analysts forecast that Byline Bancorp will post 3.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Byline Bancorp

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Byline Bancorp by 99.5% in the third quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company's stock valued at $30,000 after purchasing an additional 546 shares during the last quarter. Clearstead Advisors LLC raised its position in Byline Bancorp by 83.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company's stock valued at $46,000 after purchasing an additional 716 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Byline Bancorp in the third quarter valued at about $46,000. Parkside Financial Bank & Trust raised its position 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 purchasing an additional 313 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company's stock valued at $79,000 after purchasing an additional 2,689 shares during the last quarter. 67.73% of the stock is currently 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.

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