Byline Bancorp, Inc. (NYSE:BY) Plans $0.09 Quarterly Dividend

Byline Bancorp, Inc. (NYSE:BY) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, May 7th will be given a dividend of 0.09 per share on Tuesday, May 21st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Monday, May 6th.

Byline Bancorp has increased its dividend by an average of 44.2% per year over the last three years. Byline Bancorp has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Byline Bancorp to earn $2.54 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 14.2%.

Byline Bancorp Trading Up 2.1 %

Shares of BY traded up $0.48 on Friday, hitting $23.28. 97,299 shares of the stock traded hands, compared to its average volume of 92,955. Byline Bancorp has a 1 year low of $16.40 and a 1 year high of $24.52. The stock’s 50 day moving average is $20.94 and its two-hundred day moving average is $21.27. The firm has a market capitalization of $1.03 billion, a P/E ratio of 8.53 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.35.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Friday, April 26th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $153.79 million for the quarter, compared to analyst estimates of $97.35 million. Byline Bancorp had a return on equity of 13.54% and a net margin of 19.91%. During the same quarter in the prior year, the company posted $0.65 EPS. As a group, sell-side analysts predict that Byline Bancorp will post 2.59 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on BY shares. Stephens lowered their price objective on shares of Byline Bancorp from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Piper Sandler upped their price target on Byline Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th.

Insider Transactions at Byline Bancorp

In other Byline Bancorp news, President Alberto J. Paracchini sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $21.01, for a total value of $420,200.00. Following the transaction, the president now directly owns 205,537 shares of the company’s stock, valued at $4,318,332.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Alberto J. Paracchini sold 2,100 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $21.19, for a total value of $44,499.00. Following the transaction, the president now directly owns 197,991 shares of the company’s stock, valued at $4,195,429.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Alberto J. Paracchini sold 20,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.01, for a total transaction of $420,200.00. Following the completion of the transaction, the president now directly owns 205,537 shares in the company, valued at $4,318,332.37. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 10,585 shares of company stock valued at $218,810 and sold 28,409 shares valued at $598,238. Company insiders own 35.04% of the company’s stock.

Byline Bancorp Company Profile

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.