Byline Bancorp (NYSE:BY) Reaches New 52-Week High – What’s Next?

Byline Bancorp, Inc. (NYSE:BY) hit a new 52-week high on Wednesday . The stock traded as high as $30.00 and last traded at $30.00, with a volume of 2322 shares. The stock had previously closed at $27.18.

Analyst Upgrades and Downgrades

Several research firms recently commented on BY. Keefe, Bruyette & Woods boosted their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Stephens increased their price objective on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a report on Tuesday, October 29th.

Byline Bancorp Stock Performance

The company has a market capitalization of $1.38 billion, a P/E ratio of 11.16 and a beta of 1.12. The stock’s fifty day moving average price is $26.54 and its 200-day moving average price is $25.14.

Byline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, November 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.15%. Byline Bancorp’s dividend payout ratio is currently 13.09%.

Insiders Place Their Bets

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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 30.06% of the company’s stock.

Hedge Funds Weigh In On Byline Bancorp

Several hedge funds have recently added to or reduced their stakes in BY. Principal Financial Group Inc. lifted its stake in shares of Byline Bancorp by 21.4% during the third quarter. Principal Financial Group Inc. now owns 20,164 shares of the company’s stock worth $540,000 after buying an additional 3,550 shares during the period. Chicago Partners Investment Group LLC lifted its stake in Byline Bancorp by 8.5% during the third quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock worth $212,000 after purchasing an additional 619 shares in the last quarter. US Bancorp DE increased its holdings in Byline Bancorp by 995.8% during the 3rd 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 Byline Bancorp during the 3rd quarter worth about $1,730,000. Finally, New York State Teachers Retirement System boosted its stake in Byline Bancorp by 25.3% in the third quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock valued at $76,000 after acquiring an additional 574 shares in the last quarter. 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.