Byline Bancorp, Inc. (NYSE:BY) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Byline Bancorp has a “Moderate Buy” consensus rating from six analysts, split evenly between buy and hold recommendations, with an average 12-month price target of $43.
• The company exceeded quarterly expectations, reporting $0.91 in earnings per share versus the $0.79 consensus and revenue of $117.71 million versus estimates of $115.78 million.
• Byline increased its quarterly dividend from $0.12 to $0.14 per share, while insiders sold approximately 622,171 shares worth $24.3 million over the past three months.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $43.00.

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

Insider Buying and Selling at Byline Bancorp

In other Byline Bancorp news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $39.10, for a total value of $11,730,000.00. Following the transaction, the insider directly owned 11,535,145 shares of the company's stock, valued at approximately $451,024,169.50. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Rose sold 2,421 shares of Byline Bancorp stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $39.00, for a total transaction of $94,419.00. Following the sale, the insider directly owned 11,605 shares of the company's stock, valued at $452,595. This represents a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 622,171 shares of company stock valued at $24,328,816 in the last three months. Insiders own 29.09% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in shares of Byline Bancorp during the second quarter worth about $1,007,000. Principal Financial Group Inc. acquired a new position in shares of Byline Bancorp in the 1st quarter valued at approximately $1,466,000. Bank of America Corp DE bought a new stake in Byline Bancorp during the 2nd quarter worth approximately $5,702,000. PDT Partners LLC acquired a new stake in Byline Bancorp during the 2nd quarter worth approximately $1,029,000. Finally, Bank of New York Mellon Corp acquired a new stake in Byline Bancorp during the 2nd quarter worth approximately $6,294,000. Institutional investors own 67.73% of the company's stock.

Byline Bancorp Trading Down 1.6%

Shares of BY stock opened at $36.28 on Friday. Byline Bancorp has a 1 year low of $25.57 and a 1 year high of $40.03. The firm's 50 day moving average is $38.11 and its 200-day moving average is $35.78. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 10.96 and a beta of 0.73.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. The business had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. On average, equities research analysts forecast that Byline Bancorp will post 3.36 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th were issued a $0.14 dividend. This is an increase from Byline Bancorp's previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, August 4th. Byline Bancorp's dividend payout ratio (DPR) is currently 16.92%.

About Byline Bancorp

Byline Bancorp, Inc is the parent company of Byline Bank, a community-focused commercial bank headquartered in Chicago, Illinois. The bank serves small and mid-sized businesses, commercial real estate investors, professional service firms and individual customers through a network of banking locations and digital services.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business lending, including Small Business Administration loans, and residential mortgage products.

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