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

by · The Cerbat Gem

Byline Bancorp, Inc. (NYSE:BY – Get Free Report) announced a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.09 per share on Tuesday, November 19th. This represents a $0.36 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, November 5th.

Byline Bancorp has increased its dividend payment by an average of 44.2% annually over the last three years. Byline Bancorp has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Byline Bancorp to earn $2.55 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 14.1%.

Byline Bancorp Stock Up 1.4 %

Shares of BY stock traded up $0.38 on Friday, hitting $26.92. The company had a trading volume of 233,721 shares, compared to its average volume of 133,216. The firm has a market cap of $1.19 billion, a P/E ratio of 9.71 and a beta of 1.12. The company has a 50-day moving average price of $26.50 and a 200-day moving average price of $24.69. Byline Bancorp has a twelve month low of $18.63 and a twelve month high of $29.49.

Byline Bancorp (NYSE:BY – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $154.41 million during the quarter, compared to analysts’ expectations of $99.25 million. Byline Bancorp had a return on equity of 12.69% and a net margin of 19.42%. During the same quarter in the prior year, the firm posted $0.73 EPS. Equities research analysts expect that Byline Bancorp will post 2.67 EPS for the current year.

Analyst Ratings Changes

BY has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $34.00 target price (up previously from $27.00) on shares of Byline Bancorp in a report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price target on Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Stephens upped their price target on Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th.

Read Our Latest Research Report on Byline Bancorp

Insider Buying and Selling at Byline Bancorp

In other news, Director Pamela C. Stewart acquired 3,850 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $25.99 per share, with a total value of $100,061.50. Following the completion of the acquisition, the director now owns 6,336 shares in the company, valued at $164,672.64. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Pamela C. Stewart purchased 3,850 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $25.99 per share, with a total value of $100,061.50. Following the completion of the acquisition, the director now directly owns 6,336 shares in the company, valued at $164,672.64. This represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Barkidjija sold 27,009 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.18, for a total value of $761,113.62. Following the transaction, the insider now directly owns 22,691 shares in the company, valued at approximately $639,432.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,309 shares of company stock worth $1,131,254 over the last ninety days. Corporate insiders own 30.06% of the company’s stock.

Byline Bancorp Company Profile

(Get Free Report)

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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