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

Byline Bancorp logo with Finance background

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.
  • Interested in Byline Bancorp? Here are five stocks we like better.
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Byline Bancorp (NYSE:BY - Get Free Report) released its earnings results on Thursday. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08, Zacks reports. Byline Bancorp had a net margin of 19.03% and a return on equity of 11.19%. The company had revenue of $110.45 million for the quarter, compared to analysts' expectations of $106.95 million.

Byline Bancorp Stock Down 0.3%

NYSE:BY traded down $0.07 during mid-day trading on Friday, hitting $26.97. 392,701 shares of the stock traded hands, compared to its average volume of 245,037. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.06 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's 50 day moving average is $26.69 and its two-hundred day moving average is $26.93.

Byline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.40 annualized dividend and a yield of 1.48%. Byline Bancorp's payout ratio is 14.81%.

Insider Activity

In related news, Director Phillip R. Cabrera bought 2,360 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were acquired at an average cost of $24.75 per share, for a total transaction of $58,410.00. Following the purchase, the director directly owned 3,960 shares of the company's stock, valued at approximately $98,010. The trade was a 147.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Megan Biggam sold 8,576 shares of the company's stock in a transaction dated Monday, June 9th. The stock was 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 owned 17,630 shares in the company, valued at $471,602.50. This represents a 32.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 28.79% of the company's stock.

Hedge Funds Weigh In On Byline Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $484,000 after buying an additional 770 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings 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 valued at $1,995,000 after buying an additional 5,213 shares during the period. AQR Capital Management LLC increased its holdings in 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 buying an additional 35,324 shares during the period. Finally, Jane Street Group LLC increased its holdings in 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 buying an additional 63,317 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on Byline Bancorp

About Byline Bancorp

(Get Free Report)

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.

See Also

Earnings History for Byline Bancorp (NYSE:BY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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