Byline Bancorp (NYSE:BY) Sets New 52-Week High – Should You Buy?

Byline Bancorp, Inc. (NYSE:BY) reached a new 52-week high on Friday . The company traded as high as $34.10 and last traded at $34.3530, with a volume of 37469 shares traded. The stock had previously closed at $33.11.

Analyst Upgrades and Downgrades

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

Byline Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day simple moving average of $31.94 and a 200-day simple moving average of $30.00. The firm has a market capitalization of $1.53 billion, a PE ratio of 11.68 and a beta of 0.81.

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

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 3rd were paid a dividend of $0.12 per share. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, February 3rd. Byline Bancorp’s payout ratio is currently 16.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC grew its stake in shares of Byline Bancorp by 135.9% during the fourth quarter. Hsbc Holdings PLC now owns 70,502 shares of the company’s stock valued at $2,056,000 after buying an additional 40,613 shares during the last quarter. Invesco Ltd. grew its stake in shares of Byline Bancorp by 1.2% during the fourth quarter. Invesco Ltd. now owns 51,138 shares of the company’s stock valued at $1,491,000 after buying an additional 586 shares during the last quarter. State of Tennessee Department of Treasury grew its stake in shares of Byline Bancorp by 28.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 7,533 shares of the company’s stock valued at $241,000 after buying an additional 1,683 shares during the last quarter. Empowered Funds LLC grew its stake in Byline Bancorp by 8.2% in the fourth quarter. Empowered Funds LLC now owns 192,925 shares of the company’s stock worth $5,624,000 after purchasing an additional 14,548 shares in the last quarter. Finally, VARCOV Co. bought a new position in Byline Bancorp in the fourth quarter worth approximately $375,000. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Company Profile

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.