Byline Bancorp (NYSE:BY) Sets New 1-Year High - What's Next?

Key Points

• 52-week high: Byline Bancorp's stock hit a new 52-week high on Friday, last trading around $34.35 on volume of about 37,469 shares.
• Fundamentals beat and dividend raised: The company beat Q4 estimates with EPS of $0.76 (vs. $0.72) and revenue of $117.0M, and raised its quarterly dividend to $0.12 (annualized $0.48, yield 1.4%).
• Mixed analyst outlook: Analysts are split (two Buys, two Holds) with a MarketBeat consensus of "Moderate Buy" and a $33.67 target, though Piper Sandler's $37 target contrasts with Zacks' downgrade to Hold.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report)'s stock price hit a new 52-week high on Friday . The stock traded as high as $34.10 and last traded at $34.3530, with a volume of 37469 shares traded. The stock had previously closed at $33.11.

Analyst Ratings Changes

Several research firms have recently issued reports on BY. Zacks Research lowered Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 27th. Weiss Ratings restated a "buy (b-)" rating on shares of Byline Bancorp in a research report on Wednesday, January 21st. Finally, Piper Sandler restated an "overweight" rating and set a $37.00 target price on shares of Byline Bancorp in a research report on Tuesday, January 27th. Two 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, Byline Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $33.67.

Byline Bancorp Price Performance

The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 11.68 and a beta of 0.81. The company has a 50-day moving average price of $31.94 and a 200-day moving average price of $29.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.95 and a current ratio of 0.95.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its earnings results on Thursday, January 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. Byline Bancorp had a return on equity of 11.19% and a net margin of 20.54%.The company had revenue of $117.01 million during the quarter, compared to analyst estimates of $112.51 million. On average, equities research analysts expect that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were given a $0.12 dividend. The ex-dividend date was Tuesday, February 3rd. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. This is a boost from Byline Bancorp's previous quarterly dividend of $0.10. Byline Bancorp's payout ratio is presently 16.67%.

Hedge Funds Weigh In On Byline Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Byline Bancorp by 31.3% in the third quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company's stock valued at $16,315,000 after purchasing an additional 140,219 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Byline Bancorp by 9.3% in the third quarter. American Century Companies Inc. now owns 803,287 shares of the company's stock valued at $22,275,000 after purchasing an additional 68,230 shares in the last quarter. Blair William & Co. IL boosted its position in Byline Bancorp by 924.5% during the 3rd quarter. Blair William & Co. IL now owns 79,124 shares of the company's stock worth $2,194,000 after acquiring an additional 71,401 shares during the last quarter. CWM LLC boosted its position in Byline Bancorp by 567.4% during the 3rd quarter. CWM LLC now owns 24,359 shares of the company's stock worth $675,000 after acquiring an additional 20,709 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Byline Bancorp during the 2nd quarter worth approximately $862,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.

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