Byline Bancorp said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.09 per share ($0.36 annualized). Shareholders of record as of February 6, 2023 will receive the payment on February 21, 2023. Previously, the company paid $0.09 per share.
At the most recent share price of $24.24 / share, the stock's dividend yield was 1.49%.
Additionally, the company's dividend payout ratio is 0.15. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 2.00%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 13.19% Upside
As of January 31, 2023, the average one-year price target for Byline Bancorp is $27.44. The forecasts range from a low of $25.25 to a high of $29.40. The average price target represents an increase of 13.19% from its latest reported closing price of $24.24.
The projected annual revenue for Byline Bancorp is $390MM, an increase of 30.55%. The projected annual EPS is $2.52, an increase of 5.98%.
There are 332 funds or institutions reporting positions in Byline Bancorp. This is unchanged over the last quarter.
Average portfolio weight of all funds dedicated to US:BY is 0.1291%, a decrease of 13.1568%. Total shares owned by institutions decreased in the last three months by 0.02% to 21,823K shares.
What are large shareholders doing?
Thrivent Financial For Lutherans holds 1,712,944 shares representing 4.57% ownership of the company. In it's prior filing, the firm reported owning 1,607,201 shares, representing an increase of 6.17%. The firm decreased its portfolio allocation in BY by 57.18% over the last quarter.
Aristotle Capital Boston holds 1,193,082 shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 1,249,424 shares, representing a decrease of 4.72%. The firm decreased its portfolio allocation in BY by 7.94% over the last quarter.
Ararat Capital Management holds 1,042,862 shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 882,714 shares, representing an increase of 15.36%. The firm increased its portfolio allocation in BY by 16.99% over the last quarter.
AASMX - Thrivent Small Cap Stock Fund holds 983,769 shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 856,432 shares, representing an increase of 12.94%. The firm decreased its portfolio allocation in BY by 4.00% over the last quarter.
Endeavour Capital Advisors holds 645,807 shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 853,265 shares, representing a decrease of 32.12%. The firm decreased its portfolio allocation in BY by 22.86% over the last quarter.
Byline Bancorp Background Information
(This description is provided by the company.)
Headquartered in Chicago, Byline Bancorp, Inc. is the parent company for Byline Bank, a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $6.4 billion in assets and operates more than 40 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top five Small Business Administration lenders in the United States.
This story originally appeared on Fintel.
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