Byline Bancorp, Inc. (NYSE:BY) Announces Quarterly Dividend of $0.10

Key Points

• Byline Bancorp, Inc. declared a quarterly dividend of $0.10 per share, with a yield of 1.48%, and an ex-dividend date on August 5th.
• The company reported earnings of $0.75 per share for the previous quarter, surpassing analyst estimates, while also maintaining a dividend payout ratio of 14.6%.
• Byline Bancorp's stock experienced a slight decline of 0.3%, closing at $26.97, despite institutional investors increasing their stakes in the company.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) declared a quarterly dividend on Friday, July 25th, Wall Street Journal reports. Shareholders of record on Tuesday, August 5th will be given a dividend of 0.10 per share on Tuesday, August 19th. This represents a $0.40 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, August 5th.

Byline Bancorp has a dividend payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Byline Bancorp to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 14.4%.

Byline Bancorp Stock Down 0.3%

Byline Bancorp stock traded down $0.07 during trading hours on Friday, hitting $26.97. The stock had a trading volume of 392,701 shares, compared to its average volume of 189,426. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 9.99 and a beta of 0.84. Byline Bancorp has a one year low of $22.63 and a one year high of $32.89. The business's 50 day simple moving average is $26.69 and its 200-day simple moving average is $26.94.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Byline Bancorp had a return on equity of 11.00% and a net margin of 19.10%. The firm had revenue of $110.45 million during the quarter, compared to the consensus estimate of $106.95 million. Research analysts anticipate that Byline Bancorp will post 2.6 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Hovde Group set a $32.00 target price on Byline Bancorp in a report on Monday, May 19th.

Insiders Place Their Bets

In related news, EVP Megan Biggam sold 3,611 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $26.75, for a total transaction of $96,594.25. Following the sale, the executive vice president directly owned 17,630 shares in the company, valued at approximately $471,602.50. The trade was a 17.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Phillip R. Cabrera bought 2,360 shares of Byline Bancorp stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average price of $24.75 per share, with a total value of $58,410.00. Following the completion of the transaction, the director owned 3,960 shares of the company's stock, valued at $98,010. This represents a 147.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 28.79% of the company's stock.

Hedge Funds Weigh In On Byline Bancorp

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Byline Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company's stock worth $484,000 after acquiring an additional 770 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Byline Bancorp by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company's stock valued at $1,995,000 after purchasing an additional 5,213 shares during the period. AQR Capital Management LLC increased its position in Byline Bancorp by 34.4% during the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company's stock valued at $3,610,000 after buying an additional 35,324 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Byline Bancorp by 71.0% during the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company's stock valued at $3,989,000 after buying an additional 63,317 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Byline Bancorp Company Profile

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.

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