Byline Bancorp (NYSE:BY) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Byline Bancorp reported earnings of $0.75 per share for the quarter, exceeding analysts' expectations of $0.67 by $0.08.
• The company declared a quarterly dividend of $0.10 per share, representing an annualized rate of $0.40 with a yield of 1.48%.
• Byline Bancorp's stock was down 0.3% during mid-day trading, with a current price of $26.97 and a market capitalization of $1.24 billion.

Byline Bancorp (NYSE:BY - Get Free Report) released its earnings results on Thursday. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08, Zacks reports. The company had revenue of $110.45 million for 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%.

Byline Bancorp Trading Down 2.1%

Shares of BY stock traded down $0.57 on Wednesday, reaching $26.75. The company's stock had a trading volume of 163,838 shares, compared to its average volume of 230,973. The stock's fifty day simple moving average is $26.70 and its 200-day simple moving average is $26.92. Byline Bancorp has a 1 year low of $22.63 and a 1 year high of $32.89. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.98 and a beta of 0.84.

Byline Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Tuesday, August 5th. Byline Bancorp's dividend payout ratio (DPR) is presently 14.93%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Byline Bancorp news, EVP Megan Biggam sold 8,576 shares of Byline Bancorp stock in a transaction on Monday, June 9th. The shares were sold at an average price of $26.75, for a total transaction of $229,408.00. Following the completion of the transaction, the executive vice president directly owned 17,630 shares of the company's stock, valued at $471,602.50. The trade was a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip R. Cabrera acquired 2,360 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were purchased at an average cost of $24.75 per share, with a total value of $58,410.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 28.79% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BY. AQR Capital Management LLC boosted its stake in shares of Byline Bancorp by 34.4% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $484,000 after purchasing an additional 770 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 valued at $1,995,000 after purchasing an additional 5,213 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Byline Bancorp by 71.0% during the first quarter. Jane Street Group LLC now owns 152,478 shares of the company's stock valued at $3,989,000 after purchasing an additional 63,317 shares during the period. 67.73% of the stock is owned by hedge funds and other 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.