Byline Bancorp (NYSE:BY) Posts Earnings Results, Beats Expectations By $0.08 EPS

Byline Bancorp (NYSE:BY) announced its quarterly earnings data on Thursday. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08, Zacks reports. Byline Bancorp had a return on equity of 11.90% and a net margin of 19.39%.

Byline Bancorp Stock Up 3.0 %

BY opened at $29.19 on Friday. Byline Bancorp has a 12-month low of $19.70 and a 12-month high of $32.89. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 10.61 and a beta of 1.15. The business has a 50 day moving average of $29.75 and a 200-day moving average of $27.96.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, February 4th. Byline Bancorp’s dividend payout ratio (DPR) is presently 13.09%.

Byline Bancorp announced that its board has initiated a share buyback plan on Thursday, December 5th that allows the company to repurchase 1,250,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BY. Keefe, Bruyette & Woods boosted their target price on Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 29th.

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.