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

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.09 per share on Tuesday, November 19th. This represents a $0.36 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, November 5th.

Byline Bancorp has raised its dividend by an average of 44.2% per year over the last three years. Byline Bancorp has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Byline Bancorp to earn $2.55 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 14.1%.

Byline Bancorp Trading Up 1.2 %

BY traded up $0.33 on Friday, hitting $26.87. 313,204 shares of the company were exchanged, compared to its average volume of 133,969. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 9.84 and a beta of 1.12. The firm has a 50-day moving average price of $26.51 and a two-hundred day moving average price of $24.73. Byline Bancorp has a twelve month low of $18.63 and a twelve month high of $29.49.

Byline Bancorp (NYSE:BY - Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. Byline Bancorp had a net margin of 19.42% and a return on equity of 12.69%. The firm had revenue of $154.41 million for the quarter, compared to analyst estimates of $99.25 million. During the same period in the prior year, the firm earned $0.73 earnings per share. Equities analysts expect that Byline Bancorp will post 2.67 EPS for the current year.

Insider Activity

In other Byline Bancorp news, insider John Barkidjija sold 27,009 shares of the firm's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $28.18, for a total transaction of $761,113.62. Following the transaction, the insider now directly owns 22,691 shares of the company's stock, valued at approximately $639,432.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Pamela C. Stewart bought 3,850 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $25.99 per share, with a total value of $100,061.50. Following the completion of the acquisition, the director now owns 6,336 shares in the company, valued at approximately $164,672.64. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Barkidjija sold 27,009 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $28.18, for a total value of $761,113.62. Following the sale, the insider now directly owns 22,691 shares of the company's stock, valued at approximately $639,432.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,309 shares of company stock valued at $1,131,254. 30.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stephens lifted their price objective on shares of Byline Bancorp from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price target 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. Finally, Piper Sandler restated an "overweight" rating and issued a $34.00 price objective (up previously from $27.00) on shares of Byline Bancorp in a research note on Wednesday, July 31st.

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.