Byline Bancorp (NYSE:BY) Hits New 52-Week High – Still a Buy?

Byline Bancorp, Inc. (NYSE:BY)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.59 and last traded at $32.51, with a volume of 2585 shares traded. The stock had previously closed at $31.94.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BY shares. Piper Sandler reiterated an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 29th. Stephens lifted their price objective on Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th.

Byline Bancorp Stock Down 0.8 %

The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.55 and a beta of 1.12. The stock’s 50-day simple moving average is $27.82 and its 200 day simple moving average is $26.03.

Byline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.36 dividend on an annualized basis and a yield of 1.13%. Byline Bancorp’s dividend payout ratio is 13.09%.

Insider Activity

In related news, insider Brogan Ptacin sold 11,812 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total value of $326,601.80. Following the completion of the transaction, the insider now owns 25,588 shares in the company, valued at $707,508.20. The trade was a 31.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 30.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Byline Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in shares of Byline Bancorp in the 2nd quarter valued at about $26,000. CWM LLC boosted its position in shares of Byline Bancorp by 104.5% during the second quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $31,000 after purchasing an additional 676 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Byline Bancorp in the 2nd quarter valued at $48,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Byline Bancorp in the 2nd quarter valued at $61,000. Finally, New York State Teachers Retirement System raised its stake in Byline Bancorp by 25.3% during the 3rd quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after buying an additional 574 shares during the period. 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.