Byline Bancorp (NYSE:BY) Given “Overweight” Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Byline Bancorp (NYSE:BY) in a research report sent to investors on Tuesday, Benzinga reports. Piper Sandler currently has a $34.00 target price on the stock.

A number of other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods boosted their target price 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. Stephens boosted their price objective on Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th.

Byline Bancorp Stock Performance

Shares of BY opened at $27.42 on Tuesday. The firm has a fifty day moving average of $26.55 and a 200-day moving average of $24.90. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 10.04 and a beta of 1.12. Byline Bancorp has a 1 year low of $18.92 and a 1 year high of $29.49.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.31%. The ex-dividend date is Tuesday, November 5th. Byline Bancorp’s payout ratio is currently 13.19%.

Insider Buying and Selling at Byline Bancorp

In related news, insider Brogan Ptacin sold 11,812 shares of the firm’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 transaction, the insider now owns 25,588 shares in the company, valued at $707,508.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brogan Ptacin sold 11,812 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $27.65, for a total transaction of $326,601.80. Following the completion of the transaction, the insider now owns 25,588 shares of the company’s stock, valued at $707,508.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pamela C. Stewart purchased 3,850 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $25.99 per share, for a total transaction of $100,061.50. Following the completion of the transaction, the director now owns 6,336 shares of the company’s stock, valued at $164,672.64. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. 30.06% of the stock is owned by corporate insiders.

Institutional Trading of Byline Bancorp

A number of large investors have recently added to or reduced their stakes in BY. Chicago Partners Investment Group LLC lifted its position in shares of Byline Bancorp by 8.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock valued at $212,000 after acquiring an additional 619 shares during the last quarter. US Bancorp DE raised its position in shares of Byline Bancorp by 995.8% during the third quarter. US Bancorp DE now owns 4,646 shares of the company’s stock worth $124,000 after purchasing an additional 4,222 shares during the period. Fiducient Advisors LLC purchased a new stake in shares of Byline Bancorp during the third quarter valued at $1,730,000. New York State Teachers Retirement System boosted its position 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. Finally, First American Bank purchased a new position in Byline Bancorp in the 3rd quarter worth about $212,000. 67.73% of the stock is currently 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.