Byline Bancorp (NYSE:BY) Reaches New 12-Month High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.59 and last traded at $32.51, with a volume of 2585 shares. The stock had previously closed at $31.94.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stephens increased their target price on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Piper Sandler reaffirmed an “overweight” rating and set a $34.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price target 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.

Byline Bancorp Stock Performance

The business has a 50 day simple moving average of $27.71 and a 200-day simple moving average of $25.97. The stock has a market cap of $1.44 billion, a P/E ratio of 11.61 and a beta of 1.12.

Byline Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio is currently 13.09%.

Insider Activity

In related news, insider Brogan Ptacin sold 11,812 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total transaction of $326,601.80. Following the sale, the insider now owns 25,588 shares of the company’s stock, valued at approximately $707,508.20. This represents a 31.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 30.06% of the company’s stock.

Institutional Trading of Byline Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new position in shares of Byline Bancorp during the 2nd quarter valued at about $26,000. CWM LLC boosted its position in Byline Bancorp by 104.5% during the second quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after buying an additional 676 shares during the period. Innealta Capital LLC purchased a new stake in Byline Bancorp during the second quarter valued at about $48,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Byline Bancorp during the second quarter valued at about $61,000. Finally, New York State Teachers Retirement System increased its holdings in shares of Byline Bancorp by 25.3% in the third quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after buying an additional 574 shares during the period. Hedge funds and other 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.