Byline Bancorp, Inc. (NYSE:BY) Shareholders to Collect $0.14 Quarterly Dividend

Key Points

• Byline Bancorp declared a $0.14 quarterly dividend, payable November 17 to shareholders of record November 3. The payment equates to a $0.56 annual dividend and a 1.5% yield.
• The dividend appears well covered, with a 20.4% payout ratio and analysts expecting earnings of $3.50 per share next year, implying a projected payout ratio of 16.0%.
• Byline Bancorp exceeded quarterly earnings expectations, reporting $0.94 per share versus the $0.82 consensus and revenue of $121.01 million versus $116.88 million expected. Analysts maintain a “Moderate Buy” consensus with a $43 average price target.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Tuesday, November 3rd will be paid a dividend of $0.14 per share on Tuesday, November 17th. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, November 3rd.

Byline Bancorp has increased its dividend payment by an average of 0.3% per year over the last three years and has increased its dividend every year for the last 1 years. Byline Bancorp has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Byline Bancorp to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 16.0%.

Byline Bancorp Trading Up 1.5%

BY opened at $37.95 on Friday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 11.47 and a beta of 0.73. Byline Bancorp has a 1 year low of $26.39 and a 1 year high of $40.03. The stock has a fifty day moving average price of $37.75 and a 200 day moving average price of $36.18.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.12. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%. The company had revenue of $121.01 million for the quarter, compared to analyst estimates of $116.88 million. As a group, sell-side analysts forecast that Byline Bancorp will post 3.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BY has been the subject of several recent research reports. Piper Sandler boosted their price target on Byline Bancorp from $40.00 to $46.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Zacks Research cut shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Byline Bancorp in a research note on Friday, August 7th. Hovde Group boosted their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Finally, Stephens set a $40.00 price target on shares of Byline Bancorp in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.

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