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

Key Points

• Byline Bancorp, Inc. announced a quarterly dividend of $0.10 per share, with an ex-dividend date set for November 4th and payment scheduled for November 18th.
• The company reported an annualized dividend yield of 1.5% and has a payout ratio of 14.6%, indicating strong earnings coverage for the dividend.
• Current stock analysts rate Byline Bancorp as a "Moderate Buy" with a consensus target price of $33.25.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Tuesday, November 4th will be paid a dividend of 0.10 per share on Tuesday, November 18th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, November 4th.

Byline Bancorp has a payout ratio of 14.6% meaning 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 Performance

Shares of BY opened at $26.74 on Friday. The stock has a market capitalization of $1.23 billion, a PE ratio of 9.98 and a beta of 0.86. Byline Bancorp has a 1 year low of $22.63 and a 1 year high of $32.89. The company's 50-day simple moving average is $28.04 and its 200-day simple moving average is $26.83.

Byline Bancorp (NYSE:BY - Get Free Report) last released its earnings results on Monday, June 6th. The company reported $0.57 earnings per share for the quarter. Byline Bancorp had a net margin of 19.03% and a return on equity of 10.98%. The firm had revenue of $72.38 million for the quarter. On average, sell-side analysts predict that Byline Bancorp will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "buy (b-)" rating on shares of Byline Bancorp in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.25.

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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