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

Byline Bancorp, Inc. (NYSE:BY) announced a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors of record on Tuesday, February 4th will be paid 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 of this dividend is Tuesday, February 4th. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.09.

Byline Bancorp has increased its dividend payment by an average of 6.3% per year over the last three years. Byline Bancorp has a payout ratio of 13.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

Shares of BY stock opened at $29.19 on Friday. Byline Bancorp has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The stock’s fifty day moving average is $29.75 and its two-hundred day moving average is $27.96. The firm has a market capitalization of $1.30 billion, a P/E ratio of 10.61 and a beta of 1.15.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, topping 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 analysts forecast that Byline Bancorp will post 2.68 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $34.00 price target on shares of Byline Bancorp in a report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their target price on Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Byline Bancorp declared that its Board of Directors has authorized a stock buyback program on Thursday, December 5th that authorizes the company to buyback 1,250,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.