Byline Bancorp (NYSE:BY) Major Shareholder Investors L.P. Mbg Sells 300,000 Shares

Byline Bancorp, Inc. (NYSE:BY) major shareholder Investors L.P. Mbg sold 300,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the completion of the sale, the insider directly owned 11,535,145 shares in the company, valued at $451,024,169.50. This trade represents a 2.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Byline Bancorp Stock Up 0.8%

BY opened at $38.76 on Wednesday. The firm has a market cap of $1.75 billion, a P/E ratio of 11.71 and a beta of 0.71. The business’s fifty day simple moving average is $37.08 and its 200 day simple moving average is $33.97. Byline Bancorp, Inc. has a 52 week low of $25.57 and a 52 week high of $40.03.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. The firm had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.94%. As a group, equities analysts expect that Byline Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, August 4th. Byline Bancorp’s payout ratio is presently 16.92%.

Hedge Funds Weigh In On Byline Bancorp

A number of large investors have recently bought and sold shares of BY. BlackRock Inc. acquired a new position in shares of Byline Bancorp in the 2nd quarter valued at $132,220,000. Dimensional Fund Advisors LP raised its position in shares of Byline Bancorp by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock worth $74,713,000 after buying an additional 36,598 shares during the period. Vanguard Group Inc. raised its position in shares of Byline Bancorp by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,822,619 shares of the company’s stock worth $53,129,000 after buying an additional 47,798 shares during the period. State Street Corp boosted its holdings in Byline Bancorp by 0.9% in the fourth quarter. State Street Corp now owns 997,040 shares of the company’s stock valued at $29,064,000 after acquiring an additional 8,994 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Byline Bancorp by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 764,144 shares of the company’s stock valued at $22,278,000 after acquiring an additional 13,810 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

BY has been the topic of several recent analyst reports. Raymond James Financial started coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They set a “market perform” rating on the stock. Stephens set a $40.00 price target on Byline Bancorp in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Piper Sandler raised their price objective on Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Finally, Hovde Group raised their price objective on Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

About Byline Bancorp

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.