Byline Bancorp, Inc. (NYSE:BY) to Issue Quarterly Dividend of $0.10

Byline Bancorp, Inc. (NYSE:BY) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Stockholders of record on Tuesday, February 4th will be given a dividend of 0.10 per share on Tuesday, February 18th. This represents a $0.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Tuesday, February 4th. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.09.

Byline Bancorp has raised its dividend by an average of 6.3% annually over the last three years. Byline Bancorp has a payout ratio of 13.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Byline Bancorp to earn $2.52 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 14.3%.

Byline Bancorp Stock Up 3.0 %

Shares of BY stock traded up $0.85 on Friday, reaching $29.19. 283,878 shares of the stock were exchanged, compared to its average volume of 138,078. The stock has a market cap of $1.30 billion, a P/E ratio of 10.61 and a beta of 1.15. Byline Bancorp has a 1-year low of $19.70 and a 1-year high of $32.89. The firm has a 50 day moving average of $29.79 and a two-hundred day moving average of $27.92.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.08. Byline Bancorp had a net margin of 19.39% and a return on equity of 11.90%. On average, equities research analysts predict that Byline Bancorp will post 2.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Byline Bancorp declared that its Board of Directors has approved a stock repurchase program on Thursday, December 5th that authorizes the company to buyback 1,250,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.