Byline Bancorp (NYSE:BY) Reaches New 12-Month High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.41 and last traded at $32.37, with a volume of 19390 shares trading hands. The stock had previously closed at $32.06.

Analyst Ratings Changes

BY has been the topic of several recent analyst reports. Stephens increased their price target on Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $34.00 price target on shares of Byline Bancorp in a research note on Tuesday, October 29th.

Byline Bancorp Stock Down 1.3 %

The firm has a 50 day moving average of $27.01 and a 200-day moving average of $25.54. The company has a market cap of $1.40 billion, a P/E ratio of 11.48 and a beta of 1.12.

Byline Bancorp Dividend Announcement

The company 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. The ex-dividend date is Tuesday, November 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.14%. Byline Bancorp’s payout ratio is currently 13.09%.

Insider Buying and Selling

In other Byline Bancorp news, insider Brogan Ptacin sold 11,812 shares of the company’s stock in a transaction on 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 sale, the insider now owns 25,588 shares in the company, valued at $707,508.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 30.06% of the stock is owned by insiders.

Institutional Trading of Byline Bancorp

Several hedge funds have recently modified their holdings of BY. Vanguard Group Inc. increased its position in Byline Bancorp by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock valued at $33,700,000 after buying an additional 51,682 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Byline Bancorp by 16.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company’s stock worth $4,537,000 after purchasing an additional 26,539 shares in the last quarter. Bailard Inc. grew its position in Byline Bancorp by 72.3% during the 2nd quarter. Bailard Inc. now owns 19,300 shares of the company’s stock worth $458,000 after purchasing an additional 8,100 shares during the last quarter. Fiducient Advisors LLC purchased a new stake in Byline Bancorp during the 3rd quarter worth approximately $1,730,000. Finally, Entropy Technologies LP acquired a new position in Byline Bancorp during the 1st quarter valued at approximately $216,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.