Byline Bancorp, Inc. (NYSE:BY) to Issue $0.10 Quarterly Dividend

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. Investors of record on Tuesday, August 5th will be paid a dividend of 0.10 per share on Tuesday, August 19th. This represents a $0.40 dividend on an annualized basis and a yield of 1.46%. 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 research 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 Price Performance

Shares of BY stock traded down $0.03 on Tuesday, hitting $27.34. 202,700 shares of the stock traded hands, compared to its average volume of 232,205. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 10.20 and a beta of 0.84. Byline Bancorp has a 52 week low of $22.63 and a 52 week high of $32.89. The firm has a 50 day simple moving average of $26.69 and a two-hundred day simple moving average of $26.92.

Byline Bancorp (NYSE:BY - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $110.45 million during the quarter, compared to analysts' expectations of $106.95 million. Byline Bancorp had a net margin of 19.03% and a return on equity of 11.19%. Sell-side analysts forecast that Byline Bancorp will post 2.6 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Byline Bancorp

In related news, Director Phillip R. Cabrera purchased 2,360 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average price of $24.75 per share, for a total transaction of $58,410.00. Following the acquisition, the director directly owned 3,960 shares of the company's stock, valued at $98,010. This trade represents a 147.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Megan Biggam sold 3,611 shares of Byline Bancorp stock in a transaction dated 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 owned 17,630 shares of the company's stock, valued at approximately $471,602.50. This trade represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Byline Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of BY. AQR Capital Management LLC boosted its position in Byline Bancorp by 34.4% during the first quarter. AQR Capital Management LLC now owns 137,998 shares of the company's stock worth $3,610,000 after purchasing an additional 35,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Byline Bancorp by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company's stock worth $484,000 after buying an additional 770 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Byline Bancorp by 7.3% during 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 in the last quarter. Finally, Jane Street Group LLC raised its position in Byline Bancorp by 71.0% in 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 during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.