Keefe, Bruyette & Woods Issues Positive Forecast for Byline Bancorp (NYSE:BY) Stock Price

Byline Bancorp (NYSE:BY) had its price objective hoisted by Keefe, Bruyette & Woods from $37.00 to $41.00 in a report issued on Monday,Benzinga reports. They currently have a market perform rating on the stock.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Raymond James Financial began coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating on the stock. Hovde Group increased their price objective on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler upped their price target on Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Byline Bancorp Stock Down 0.0%

Shares of NYSE BY opened at $38.60 on Monday. Byline Bancorp has a 12-month low of $25.38 and a 12-month high of $39.51. The firm’s 50-day simple moving average is $35.73 and its 200 day simple moving average is $33.28. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 11.66 and a beta of 0.72.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. The firm had revenue of $117.71 million during the quarter, compared to analysts’ expectations of $115.78 million. On average, equities analysts expect that Byline Bancorp will post 3.28 earnings per share for the current year.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, August 4th. Byline Bancorp’s payout ratio is presently 14.50%.

Hedge Funds Weigh In On Byline Bancorp

Several hedge funds have recently added to or reduced their stakes in BY. AQR Capital Management LLC grew its position in shares of Byline Bancorp by 34.4% during the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock worth $3,610,000 after buying an additional 35,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Byline Bancorp by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after acquiring an additional 770 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Byline Bancorp by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock worth $1,995,000 after acquiring an additional 5,213 shares during the last quarter. Jane Street Group LLC boosted its stake in Byline Bancorp by 71.0% during the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock worth $3,989,000 after acquiring an additional 63,317 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Byline Bancorp by 2.5% during the second quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock valued at $791,000 after purchasing an additional 712 shares during the period. Institutional investors and hedge funds 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.