Byline Bancorp, Inc. (NYSE:BY – Get Rating) declared a quarterly dividend on Tuesday, April 26th, Zacks reports. Stockholders of record on Monday, May 9th will be given a dividend of 0.09 per share on Monday, May 23rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, May 6th.
Byline Bancorp has a payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Byline Bancorp to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 17.6%.
NYSE BY opened at $23.78 on Wednesday. The company’s 50-day moving average price is $25.82 and its 200-day moving average price is $26.59. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.59. The stock has a market cap of $898.88 million, a PE ratio of 9.83 and a beta of 1.29. Byline Bancorp has a 12 month low of $21.41 and a 12 month high of $29.15.
Separately, Zacks Investment Research lowered shares of Byline Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday.
In other news, EVP Hart Angela E. Major purchased 1,000 shares of the firm’s stock in a transaction on Friday, February 25th. The stock was acquired at an average cost of $27.30 per share, with a total value of $27,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Barkidjija sold 20,000 shares of the stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $27.38, for a total transaction of $547,600.00. The disclosure for this sale can be found here. Corporate insiders own 34.96% of the company’s stock.
Several institutional investors have recently made changes to their positions in BY. Royal Bank of Canada raised its position in shares of Byline Bancorp by 66.8% in the 3rd quarter. Royal Bank of Canada now owns 2,915 shares of the company’s stock valued at $71,000 after purchasing an additional 1,167 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Byline Bancorp by 92.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,873 shares of the company’s stock valued at $169,000 after purchasing an additional 3,302 shares during the last quarter. Citigroup Inc. raised its position in shares of Byline Bancorp by 115.2% in the 4th quarter. Citigroup Inc. now owns 6,840 shares of the company’s stock valued at $187,000 after purchasing an additional 3,661 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Byline Bancorp in the 4th quarter valued at approximately $191,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Byline Bancorp in the 4th quarter valued at approximately $203,000. 44.18% of the stock is owned by hedge funds and other institutional investors.
Byline Bancorp Company Profile (Get Rating)
Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.
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