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

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

Analysts Set New Price Targets

A number of brokerages have commented on BY. Piper Sandler reiterated an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price objective on Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Stephens upped their price objective 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.

Byline Bancorp Stock Down 0.4 %

The business has a 50-day simple moving average of $26.83 and a two-hundred day simple moving average of $25.42. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.67 and a beta of 1.12.

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 dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.13%. Byline Bancorp’s payout ratio is 13.09%.

Insider Activity

In other Byline Bancorp news, insider Brogan Ptacin sold 11,812 shares of the business’s stock in a transaction 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 directly owns 25,588 shares of the company’s stock, valued at approximately $707,508.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 30.06% of the company’s stock.

Institutional Investors Weigh In On Byline Bancorp

A number of large investors have recently bought and sold shares of BY. Point72 Asset Management L.P. acquired a new position in Byline Bancorp during the second quarter worth $26,000. CWM LLC increased its position in shares of Byline Bancorp by 104.5% during the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after purchasing an additional 676 shares during the period. Innealta Capital LLC purchased a new position in shares of Byline Bancorp in the second quarter worth approximately $48,000. Ashton Thomas Private Wealth LLC acquired a new stake in Byline Bancorp in the second quarter valued at approximately $61,000. Finally, New York State Teachers Retirement System increased its position in Byline Bancorp by 25.3% during the third quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after acquiring an additional 574 shares during the period. Hedge funds and other institutional investors own 67.73% 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.