Share Buyback Program Declared by Byline Bancorp (NYSE:BY) Board of Directors

Posted by Frank Smitson on Dec 8th, 2024

Byline Bancorp (NYSE:BY – Get Free Report) declared that its board has initiated a share repurchase plan on Thursday, December 5th, RTT News reports. The company plans to repurchase 1,250,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Byline Bancorp Trading Up 1.2 %

BY stock opened at $31.55 on Friday. Byline Bancorp has a 1-year low of $19.70 and a 1-year high of $32.89. The business’s 50 day moving average is $28.67 and its 200-day moving average is $26.51. The firm has a market cap of $1.40 billion, a P/E ratio of 11.47 and a beta of 1.15.

Byline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio (DPR) is 13.09%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BY shares. Keefe, Bruyette & Woods raised 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. Piper Sandler reissued an “overweight” rating and issued a $34.00 price objective on shares of Byline Bancorp in a research report on Tuesday, October 29th.

View Our Latest Analysis on BY

About Byline Bancorp

(Get Free Report)

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.