Byline Bancorp (NYSE:BY) Hits New 52-Week Low at $21.17

Byline Bancorp, Inc. (NYSE:BYGet Rating) reached a new 52-week low on Friday . The company traded as low as $21.17 and last traded at $21.20, with a volume of 547 shares. The stock had previously closed at $21.56.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stephens boosted their target price on shares of Byline Bancorp to $26.00 in a research note on Tuesday, August 23rd. Raymond James assumed coverage on shares of Byline Bancorp in a research note on Friday, August 26th. They set a “market perform” rating on the stock.

Byline Bancorp Price Performance

The company has a market cap of $791.63 million, a price-to-earnings ratio of 9.49 and a beta of 1.22. The business’s fifty day moving average price is $22.95 and its 200 day moving average price is $24.09.

Byline Bancorp (NYSE:BYGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $75.79 million for the quarter, compared to analyst estimates of $75.85 million. Byline Bancorp had a net margin of 26.03% and a return on equity of 11.92%. During the same quarter in the previous year, the business earned $0.77 earnings per share. As a group, equities research analysts anticipate that Byline Bancorp, Inc. will post 2.32 EPS for the current year.

Byline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.36 annualized dividend and a yield of 1.71%. Byline Bancorp’s payout ratio is 16.14%.

Insider Activity at Byline Bancorp

In other news, Director Mary Jo S. Herseth bought 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average price of $22.86 per share, for a total transaction of $25,146.00. Following the completion of the acquisition, the director now directly owns 11,602 shares in the company, valued at $265,221.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 35.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Byline Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in Byline Bancorp in the second quarter valued at $28,000. Sei Investments Co. increased its stake in Byline Bancorp by 0.7% in the second quarter. Sei Investments Co. now owns 174,299 shares of the company’s stock valued at $4,148,000 after purchasing an additional 1,295 shares in the last quarter. River Oaks Capital LLC increased its stake in Byline Bancorp by 2.7% in the second quarter. River Oaks Capital LLC now owns 76,000 shares of the company’s stock valued at $1,809,000 after purchasing an additional 2,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Byline Bancorp by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 127,968 shares of the company’s stock worth $3,414,000 after acquiring an additional 2,135 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Byline Bancorp by 10.2% during the second quarter. UBS Asset Management Americas Inc. now owns 24,429 shares of the company’s stock worth $581,000 after acquiring an additional 2,259 shares in the last quarter. Institutional investors and hedge funds own 47.79% of the company’s stock.

Byline Bancorp Company Profile

(Get Rating)

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.

Further Reading

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