Byline Bancorp (NYSE:BY) Director Pamela Stewart Buys 1,160 Shares of Company Stock

Key Points

• Director Pamela Stewart purchased 1,160 Byline Bancorp shares at an average price of $38.61, investing approximately $44,788 and increasing her ownership by 18.31%.
• Byline Bancorp reported quarterly EPS of $0.94, beating analyst expectations of $0.82, while revenue of $121.01 million also exceeded estimates.
• The company declared a quarterly dividend of $0.14 per share, equivalent to an annualized dividend of $0.56 and a 1.5% yield; analysts maintain a consensus “Moderate Buy” rating with a $43 price target.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) Director Pamela Stewart purchased 1,160 shares of the firm's stock in a transaction that occurred on Monday, October 26th. The stock was bought at an average cost of $38.61 per share, for a total transaction of $44,787.60. Following the purchase, the director owned 7,496 shares in the company, valued at $289,420.56. This represents a 18.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Byline Bancorp Stock Down 0.1%

NYSE:BY traded down $0.04 during trading hours on Monday, reaching $38.36. The company had a trading volume of 319,303 shares, compared to its average volume of 239,683. The stock has a 50-day moving average of $37.73 and a two-hundred day moving average of $34.80. Byline Bancorp, Inc. has a one year low of $26.39 and a one year high of $40.03. The firm has a market capitalization of $1.73 billion, a PE ratio of 11.18 and a beta of 0.73.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.12. The company had revenue of $121.01 million during the quarter, compared to analysts' expectations of $116.88 million. Byline Bancorp had a return on equity of 12.04% and a net margin of 24.06%. As a group, sell-side analysts expect that Byline Bancorp, Inc. will post 3.39 earnings per share for the current year.

Byline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. Byline Bancorp's dividend payout ratio is presently 16.33%.

Institutional Investors Weigh In On Byline Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BY. BlackRock Inc. acquired a new position in shares of Byline Bancorp during the second quarter worth approximately $132,220,000. Dimensional Fund Advisors LP increased its holdings in shares of Byline Bancorp by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company's stock valued at $74,713,000 after purchasing an additional 36,598 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Byline Bancorp in the first quarter valued at approximately $7,176,000. Empowered Funds LLC bought a new position in Byline Bancorp in the 2nd quarter worth approximately $8,031,000. Finally, Denali Advisors LLC lifted its holdings in Byline Bancorp by 10.8% during the 2nd quarter. Denali Advisors LLC now owns 185,516 shares of the company's stock worth $6,987,000 after buying an additional 18,100 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BY. Zacks Research downgraded shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Byline Bancorp in a research note on Friday, August 7th. Hovde Group raised their price objective on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods lifted 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 note on Monday, July 27th. Finally, Raymond James Financial reiterated a "market perform" rating on shares of Byline Bancorp in a research report on Friday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Byline Bancorp Company Profile

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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