Dimensional Fund Advisors LP Buys 36,598 Shares of Byline Bancorp, Inc. $BY

Dimensional Fund Advisors LP increased its stake in shares of Byline Bancorp, Inc. (NYSE:BY) by 1.6% in the first quarter, HoldingsChannel reports. The firm owned 2,366,600 shares of the company’s stock after buying an additional 36,598 shares during the period. Dimensional Fund Advisors LP owned approximately 0.05% of Byline Bancorp worth $74,713,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Signet Financial Management LLC bought a new position in Byline Bancorp in the first quarter worth about $209,000. Principal Financial Group Inc. bought a new stake in shares of Byline Bancorp in the 1st quarter valued at about $1,466,000. Fifth Third Bancorp purchased a new position in shares of Byline Bancorp in the 1st quarter worth approximately $284,000. Assenagon Asset Management S.A. purchased a new position in shares of Byline Bancorp in the 1st quarter worth approximately $7,176,000. Finally, Hsbc Holdings PLC raised its stake in shares of Byline Bancorp by 135.9% during the 4th quarter. Hsbc Holdings PLC now owns 70,502 shares of the company’s stock worth $2,056,000 after acquiring an additional 40,613 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BY shares. Piper Sandler increased their target price on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Stephens set a $40.00 price target on Byline Bancorp in a research report on Monday. Raymond James Financial initiated coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating for the company. Finally, Zacks Research cut Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Byline Bancorp currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Byline Bancorp Price Performance

BY stock opened at $39.27 on Friday. The firm’s fifty day simple moving average is $36.24 and its 200-day simple moving average is $33.52. The company has a market capitalization of $1.78 billion, a P/E ratio of 11.86 and a beta of 0.72. Byline Bancorp, Inc. has a 12 month low of $25.38 and a 12 month high of $39.51.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. The firm had revenue of $117.71 million during the quarter, compared to analysts’ expectations of $115.78 million. As a group, sell-side analysts forecast that Byline Bancorp, Inc. will post 3.32 earnings per share for the current year.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.56 annualized dividend and a yield of 1.4%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s payout ratio is 14.50%.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.