Byline Bancorp (NYSE:BY) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

by · The Markets Daily

Byline Bancorp, Inc. (NYSE:BYGet Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $31.79 and traded as high as $32.16. Byline Bancorp shares last traded at $31.9350, with a volume of 216,754 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BY shares. Zacks Research lowered shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Byline Bancorp in a research note on Wednesday, January 21st. Finally, Piper Sandler reissued an “overweight” rating and set a $37.00 price objective on shares of Byline Bancorp in a research report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.67.

Read Our Latest Report on Byline Bancorp

Byline Bancorp Trading Up 0.1%

The company has a 50 day simple moving average of $31.79 and a 200 day simple moving average of $29.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.46 billion, a PE ratio of 11.09 and a beta of 0.81.

Byline Bancorp (NYSE:BYGet Free Report) last announced its earnings results on Thursday, January 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. Byline Bancorp had a return on equity of 11.19% and a net margin of 20.54%.The company had revenue of $117.01 million for the quarter, compared to the consensus estimate of $112.51 million. Analysts predict that Byline Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $0.48 annualized dividend and a yield of 1.5%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.10. Byline Bancorp’s dividend payout ratio is presently 16.67%.

Byline Bancorp declared that its Board of Directors has initiated a share repurchase program on Thursday, December 11th that permits the company to buyback $2.25 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Byline Bancorp

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Byline Bancorp by 31.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock valued at $16,315,000 after buying an additional 140,219 shares during the period. Qube Research & Technologies Ltd grew its holdings in Byline Bancorp by 56.2% during the third quarter. Qube Research & Technologies Ltd now owns 358,536 shares of the company’s stock worth $9,942,000 after acquiring an additional 129,032 shares during the period. Goldman Sachs Group Inc. raised its position in Byline Bancorp by 64.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 276,181 shares of the company’s stock worth $8,051,000 after acquiring an additional 108,492 shares in the last quarter. Federated Hermes Inc. raised its position in Byline Bancorp by 16.7% in the fourth quarter. Federated Hermes Inc. now owns 573,652 shares of the company’s stock worth $16,722,000 after acquiring an additional 82,142 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Byline Bancorp by 129.4% in the third quarter. UBS Group AG now owns 141,067 shares of the company’s stock valued at $3,912,000 after acquiring an additional 79,586 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Company Profile

(Get Free Report)

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.

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