Byline Bancorp (NYSE:BY – Free Report) had its price target increased by Hovde Group from $33.00 to $34.00 in a research report report published on Monday morning, Marketbeat reports. Hovde Group currently has an outperform rating on the stock.
Several other equities analysts have also weighed in on BY. Piper Sandler reissued an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price target on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.
Read Our Latest Analysis on BY
Byline Bancorp Price Performance
Byline Bancorp (NYSE:BY – Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.61 by $0.08. Byline Bancorp had a net margin of 19.39% and a return on equity of 11.90%. As a group, analysts expect that Byline Bancorp will post 2.68 EPS for the current year.
Byline Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 4th. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.37%. Byline Bancorp’s payout ratio is currently 13.09%.
Byline Bancorp announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 5th that allows the company to repurchase 1,250,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Institutional Trading of Byline Bancorp
A number of large investors have recently bought and sold shares of the business. New York State Teachers Retirement System raised its stake in shares of Byline Bancorp by 25.3% in the 3rd quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock valued at $76,000 after purchasing an additional 574 shares during the period. Chicago Partners Investment Group LLC raised its position in Byline Bancorp by 8.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock valued at $212,000 after buying an additional 619 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Byline Bancorp in the 2nd quarter valued at approximately $26,000. The Manufacturers Life Insurance Company boosted its position in Byline Bancorp by 19.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,403 shares of the company’s stock worth $294,000 after acquiring an additional 2,023 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Byline Bancorp by 21.4% during the 3rd quarter. Principal Financial Group Inc. now owns 20,164 shares of the company’s stock worth $540,000 after acquiring an additional 3,550 shares in the last quarter. 67.73% of the stock is owned by institutional investors.
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.
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