Byline Bancorp, Inc. (NYSE:BY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Byline Bancorp a “Moderate Buy” consensus: Three analysts rate the stock a buy and three recommend holding it. The average 12-month price target is $39, with some firms recently raising their targets as high as $45.
• Byline exceeded quarterly expectations, reporting earnings of $0.91 per share versus the $0.79 consensus estimate and revenue of $117.71 million versus $115.78 million expected.
• The company increased its quarterly dividend from $0.12 to $0.14 per share, equivalent to an annualized $0.56 payout and a 1.4% yield. Institutional investors own approximately 67.73% of the stock.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $39.00.

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Hovde Group lifted their price objective on Byline Bancorp from $39.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday. Piper Sandler upped their target price on Byline Bancorp from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Raymond James Financial started coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a "market perform" rating on the stock. Finally, Zacks Research lowered Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd.

Hedge Funds Weigh In On Byline Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Byline Bancorp by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company's stock worth $74,713,000 after buying an additional 36,598 shares during the period. Vanguard Group Inc. boosted its stake in Byline Bancorp by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,822,619 shares of the company's stock worth $53,129,000 after acquiring an additional 47,798 shares in the last quarter. State Street Corp grew its holdings in Byline Bancorp by 0.9% in the fourth quarter. State Street Corp now owns 997,040 shares of the company's stock worth $29,064,000 after purchasing an additional 8,994 shares during the period. Geode Capital Management LLC grew its holdings in Byline Bancorp by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 764,144 shares of the company's stock worth $22,278,000 after purchasing an additional 13,810 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Byline Bancorp by 16.7% during the fourth quarter. Federated Hermes Inc. now owns 573,652 shares of the company's stock valued at $16,722,000 after purchasing an additional 82,142 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Byline Bancorp Price Performance

Byline Bancorp stock traded up $0.26 during mid-day trading on Monday, reaching $38.86. 13,874 shares of the company traded hands, compared to its average volume of 244,385. The firm's 50 day moving average price is $35.60 and its 200 day moving average price is $33.22. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 11.74 and a beta of 0.72. Byline Bancorp has a 52-week low of $25.38 and a 52-week high of $39.51.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12. The business had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. On average, sell-side analysts anticipate that Byline Bancorp will post 3.28 EPS for the current year.

Byline Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Byline Bancorp's previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, August 4th. Byline Bancorp's dividend payout ratio is currently 14.50%.

Byline Bancorp Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.