Byline Bancorp (NYSE:BY) Sees Large Volume Increase - Time to Buy?

Key Points

• Trading volume jumped 44% on Friday to 275,021 shares with the stock trading around $32.55, above its 50‑day and 200‑day moving averages of $31.94 and $30.32 respectively.
• Byline reported a quarterly EPS beat of $0.83 vs. $0.74 expected and announced a quarterly dividend of $0.12 (annualized $0.48, yield 1.5%).
• Analysts hold a consensus rating of “Moderate Buy” with a $34.67 target; Piper Sandler raised its target to $40 and two firms rate the stock Buy while two rate it Hold.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 275,021 shares traded hands during mid-day trading, an increase of 44% from the previous session's volume of 190,877 shares.The stock last traded at $32.5450 and had previously closed at $32.15.

Analysts Set New Price Targets

A number of research analysts have issued reports on BY shares. Zacks Research cut shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Friday, March 27th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Byline Bancorp in a report on Wednesday, January 21st. Finally, Piper Sandler increased their target price on shares of Byline Bancorp from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.67.

Byline Bancorp Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.47 billion, a PE ratio of 10.57 and a beta of 0.81. The stock's fifty day simple moving average is $31.94 and its 200-day simple moving average is $30.32.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.09. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.67%. The business had revenue of $112.40 million during the quarter, compared to analysts' expectations of $113.89 million. On average, research analysts predict that Byline Bancorp, Inc. will post 3.19 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, May 5th. Byline Bancorp's dividend payout ratio (DPR) is 15.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust increased its stake in shares of Byline Bancorp by 15.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company's stock worth $69,000 after purchasing an additional 313 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Byline Bancorp by 16.1% during the 4th quarter. New York State Teachers Retirement System now owns 2,864 shares of the company's stock worth $83,000 after purchasing an additional 398 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Byline Bancorp by 99.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company's stock worth $30,000 after purchasing an additional 546 shares in the last quarter. Invesco Ltd. increased its stake in shares of Byline Bancorp by 1.2% during the 4th quarter. Invesco Ltd. now owns 51,138 shares of the company's stock worth $1,491,000 after purchasing an additional 586 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Byline Bancorp by 3.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 17,586 shares of the company's stock worth $488,000 after purchasing an additional 588 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.