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

Byline Bancorp, Inc. (NYSE:BY) announced a quarterly dividend on Thursday, October 24th, 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 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, November 5th.

Byline Bancorp has increased its dividend payment by an average of 44.2% per year over the last three years. Byline Bancorp has a payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Byline Bancorp to earn $2.54 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 14.2%.

Byline Bancorp Price Performance

Byline Bancorp stock opened at $26.75 on Monday. Byline Bancorp has a 12-month low of $19.25 and a 12-month high of $29.49. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.73 and a beta of 1.12. The firm has a 50 day simple moving average of $26.57 and a 200-day simple moving average of $25.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stephens increased their price target on Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. 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 report on Monday, July 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a report on Tuesday, October 29th.

Insider Buying and Selling

In other news, insider Brogan Ptacin sold 11,812 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $27.65, for a total value of $326,601.80. Following the completion of the sale, 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 at this link. In other news, Director Pamela C. Stewart bought 3,850 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $25.99 per share, with a total value of $100,061.50. Following the transaction, the director now directly owns 6,336 shares in the company, valued at approximately $164,672.64. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $326,601.80. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Company insiders own 30.06% of the company’s stock.

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.