Byline Bancorp (NYSE:BY) Reaches New 1-Year High – Here’s Why

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

Analysts Set New Price Targets

A number of equities analysts have commented on BY shares. Keefe, Bruyette & Woods lifted their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Piper Sandler reaffirmed an “overweight” rating and set a $34.00 target price on shares of Byline Bancorp in a report on Tuesday, October 29th. Finally, Stephens increased their price target on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th.

Byline Bancorp Stock Performance

The stock’s fifty day simple moving average is $27.71 and its 200-day simple moving average is $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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a $0.09 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 annualized dividend and a yield of 1.11%. Byline Bancorp’s dividend payout ratio is presently 13.09%.

Insider Transactions at Byline Bancorp

In related news, insider Brogan Ptacin sold 11,812 shares of Byline Bancorp stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total value of $326,601.80. Following the transaction, the insider now directly owns 25,588 shares of the company’s stock, valued at $707,508.20. This trade represents a 31.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 30.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Byline Bancorp

A number of large investors have recently modified their holdings of BY. Dimensional Fund Advisors LP grew its stake in shares of Byline Bancorp by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock worth $44,049,000 after buying an additional 106,940 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Byline Bancorp by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock worth $33,700,000 after purchasing an additional 51,682 shares during the last quarter. FMR LLC increased its stake in shares of Byline Bancorp by 7.3% in the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock valued at $27,730,000 after buying an additional 70,863 shares during the period. State Street Corp grew its holdings in Byline Bancorp by 6.5% during the 3rd quarter. State Street Corp now owns 845,405 shares of the company’s stock worth $22,631,000 after acquiring an additional 51,603 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Byline Bancorp by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock valued at $12,315,000 after acquiring an additional 87,796 shares during the period. Institutional investors and hedge funds 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.