Byline Bancorp’s (BY) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Byline Bancorp (NYSE:BY) in a research note released on Wednesday morning, Benzinga reports. Piper Sandler currently has a $34.00 price objective on the stock, up from their prior price objective of $27.00.

A number of other equities analysts have also weighed in on BY. Stephens upped their price target on shares of Byline Bancorp from $27.00 to $29.00 and gave the stock an equal weight rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their target price on shares of Byline Bancorp from $25.00 to $29.00 and gave the company a market perform rating in a research note on Monday, July 29th. Finally, Hovde Group assumed coverage on Byline Bancorp in a research note on Monday, May 20th. They issued an outperform rating and a $27.50 price target for the company.

Byline Bancorp Price Performance

NYSE:BY opened at $26.27 on Wednesday. Byline Bancorp has a one year low of $18.39 and a one year high of $29.49. The business has a fifty day moving average price of $24.55 and a 200-day moving average price of $22.61. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 9.62 and a beta of 1.14.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. Byline Bancorp had a return on equity of 12.89% and a net margin of 19.42%. The business had revenue of $154.41 million during the quarter, compared to analyst estimates of $99.25 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. On average, equities research analysts expect that Byline Bancorp will post 2.64 earnings per share for the current fiscal year.

Byline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.37%. Byline Bancorp’s dividend payout ratio is 13.19%.

Insider Buying and Selling

In other Byline Bancorp news, insider John Barkidjija sold 10,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $22.64, for a total value of $226,400.00. Following the sale, the insider now owns 30,691 shares in the company, valued at approximately $694,844.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 38,497 shares of company stock worth $1,031,053. 30.06% of the stock is owned by insiders.

Institutional Trading of Byline Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Mendon Capital Advisors Corp bought a new position in shares of Byline Bancorp during the 4th quarter valued at approximately $8,246,000. Vanguard Group Inc. lifted its position in Byline Bancorp by 5.8% during the third quarter. Vanguard Group Inc. now owns 1,449,974 shares of the company’s stock valued at $28,579,000 after purchasing an additional 79,051 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Byline Bancorp by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,626,661 shares of the company’s stock worth $38,325,000 after buying an additional 68,552 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Byline Bancorp by 122.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 122,735 shares of the company’s stock worth $2,892,000 after buying an additional 67,614 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Byline Bancorp during the 4th quarter valued at about $976,000. Institutional investors own 67.73% of the company’s stock.

About Byline Bancorp

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.