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

Key Points

• Analysts give Byline Bancorp a “Moderate Buy” consensus: Three analysts rate the stock a buy and three rate it a hold, with an average 12-month price target of $43.00 versus the recent $38.41 price.
• Byline Bancorp exceeded quarterly expectations, reporting $0.91 in EPS and $117.71 million in revenue, while shares traded near their 12-month high and the company raised its quarterly dividend to $0.14.
• Insiders sold 622,171 shares worth approximately $24.3 million during the last quarter, while institutional investors own 67.73% of the company’s stock.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $43.00.

A number of research analysts have commented on the company. Raymond James Financial began coverage on Byline Bancorp in a report on Wednesday, July 8th. They issued a "market perform" rating on the stock. Piper Sandler lifted their target price on Byline Bancorp from $40.00 to $46.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. Hovde Group boosted their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. Zacks Research downgraded shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Byline Bancorp in a research note on Friday, August 7th.

Insider Buying and Selling at Byline Bancorp

In related news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.10, for a total value of $11,730,000.00. Following the completion of the sale, the insider directly owned 11,535,145 shares in the company, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Roberto R. Herencia sold 19,750 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $39.21, for a total value of $774,397.50. Following the sale, the chief executive officer directly owned 411,643 shares in the company, valued at $16,140,522.03. This represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 622,171 shares of company stock worth $24,328,816. 29.09% of the stock is currently owned by company insiders.

Institutional Trading of Byline Bancorp

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Byline Bancorp by 34.4% in the first quarter. AQR Capital Management LLC now owns 137,998 shares of the company's stock valued at $3,610,000 after purchasing an additional 35,324 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Byline Bancorp by 7.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company's stock worth $1,995,000 after buying an additional 5,213 shares in the last quarter. Jane Street Group LLC increased its holdings 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 period. Finally, Legal & General Group Plc increased its holdings in Byline Bancorp by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 29,577 shares of the company's stock valued at $791,000 after buying an additional 712 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Byline Bancorp Stock Up 0.7%

Shares of BY stock opened at $38.41 on Friday. The firm has a 50 day moving average price of $37.77 and a two-hundred day moving average price of $34.34. The company has a market capitalization of $1.74 billion, a PE ratio of 11.60 and a beta of 0.71. Byline Bancorp has a 12-month low of $25.57 and a 12-month high of $40.03.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.79 by $0.12. The company had revenue of $117.71 million for the quarter, compared to the consensus estimate of $115.78 million. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%. As a group, research analysts expect that Byline Bancorp will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. This is an increase from Byline Bancorp's previous quarterly dividend of $0.12. Byline Bancorp's payout ratio is presently 16.92%.

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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