Byline Bancorp (NYSE:BY) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Byline Bancorp, Inc. (NYSE:BY) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $31.79 and traded as high as $32.16. Byline Bancorp shares last traded at $31.9350, with a volume of 216,754 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of Byline Bancorp in a research report on Tuesday, January 27th. Zacks Research lowered Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Byline Bancorp in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.67.

Byline Bancorp Stock Up 0.1%

The firm has a market cap of $1.46 billion, a P/E ratio of 11.09 and a beta of 0.81. The firm’s fifty day moving average is $31.79 and its 200 day moving average is $29.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.95 and a current ratio of 0.95.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. Byline Bancorp had a net margin of 20.54% and a return on equity of 11.19%. The firm had revenue of $117.01 million for the quarter, compared to analysts’ expectations of $112.51 million. As a group, equities research analysts anticipate that Byline Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 3rd. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.10. Byline Bancorp’s payout ratio is 16.67%.

Byline Bancorp declared that its board has authorized a stock repurchase program on Thursday, December 11th that permits the company to buyback $2.25 million in outstanding shares. This buyback authorization permits the company to reacquire up to 0.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Byline Bancorp

Several institutional investors and hedge funds have recently modified their holdings of BY. Endeavour Capital Advisors Inc. bought a new stake in Byline Bancorp in the 2nd quarter valued at about $4,010,000. JPMorgan Chase & Co. increased its holdings in shares of Byline Bancorp by 31.3% during the third quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock worth $16,315,000 after purchasing an additional 140,219 shares during the period. CWM LLC raised its position in shares of Byline Bancorp by 567.4% in the third quarter. CWM LLC now owns 24,359 shares of the company’s stock valued at $675,000 after buying an additional 20,709 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Byline Bancorp by 9.3% in the third quarter. American Century Companies Inc. now owns 803,287 shares of the company’s stock valued at $22,275,000 after buying an additional 68,230 shares during the period. Finally, Blair William & Co. IL boosted its stake in shares of Byline Bancorp by 924.5% in the third quarter. Blair William & Co. IL now owns 79,124 shares of the company’s stock valued at $2,194,000 after buying an additional 71,401 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

About Byline Bancorp

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.