Byline Bancorp, Inc. (NYSE:BY) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts rate Byline Bancorp a “Moderate Buy”, with three buy ratings and three holds. The average 12-month price target is $43, above the reported share price of $38.42.
• Byline Bancorp beat quarterly earnings expectations, reporting $0.91 EPS versus the $0.79 consensus and revenue of $117.71 million. The company also increased its quarterly dividend to $0.14 per share, yielding about 1.5% annually.
• Insiders sold 622,171 shares worth approximately $24.3 million over the past quarter, while institutional investors and hedge funds own 67.73% of the stock.

Shares of Byline Bancorp, Inc. (NYSE:BY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $43.00.

Several analysts recently weighed in on the company. Zacks Research cut Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Hovde Group boosted their price target on Byline Bancorp from $39.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Piper Sandler raised their price objective on Byline Bancorp from $40.00 to $46.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Byline Bancorp in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a "market perform" rating in a research report on Monday, July 27th.

Insider Transactions at Byline Bancorp

In other Byline Bancorp news, CEO Roberto R. Herencia sold 19,750 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $39.21, for a total transaction of $774,397.50. Following the completion of the sale, the chief executive officer owned 411,643 shares of the company's stock, valued at approximately $16,140,522.03. This represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Antonio del Valle Perochena sold 300,000 shares of the stock in a transaction dated 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 sale, the director owned 11,535,145 shares of the company's stock, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over 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 insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new position in shares of Byline Bancorp during the second quarter valued at about $627,000. Integrated Wealth Concepts LLC purchased a new position in Byline Bancorp in the second quarter valued at approximately $130,000. Squarepoint Ops LLC purchased a new position in shares of Byline Bancorp during the 2nd quarter valued at $236,000. Allworth Financial LP boosted its position in Byline Bancorp by 43.6% during the second quarter. Allworth Financial LP now owns 1,617 shares of the company's stock worth $61,000 after purchasing an additional 491 shares during the period. Finally, Corient Private Wealth LP bought a new position in Byline Bancorp in the 2nd quarter worth approximately $233,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Byline Bancorp Stock Down 0.6%

NYSE:BY opened at $38.42 on Tuesday. Byline Bancorp has a twelve month low of $25.57 and a twelve month high of $40.03. The business has a 50 day moving average price of $38.41 and a two-hundred day moving average price of $34.99. The company has a market cap of $1.74 billion, a P/E ratio of 11.61 and a beta of 0.71.

Byline Bancorp (NYSE:BY - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.12. The business 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, analysts anticipate that Byline Bancorp will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

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

Byline Bancorp Company Profile

Byline Bancorp, Inc is the parent company of Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The bank provides banking and financial services to small and medium-sized businesses, professionals, and individuals, with a focus on building long-term relationships in the communities it serves.

Byline Bank offers business and personal deposit accounts, commercial and industrial loans, commercial real estate financing, small business lending, residential and consumer loans, treasury management, and other cash-management services.

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.