Quantbot Technologies LP Acquires Shares of 18,348 Byline Bancorp, Inc. $BY

Quantbot Technologies LP bought a new position in shares of Byline Bancorp, Inc. (NYSE:BY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,348 shares of the company’s stock, valued at approximately $691,000.

Several other institutional investors and hedge funds have also made changes to their positions in BY. Principal Financial Group Inc. purchased a new stake in Byline Bancorp in the first quarter valued at approximately $1,466,000. Hsbc Holdings PLC grew its position in shares of Byline Bancorp by 135.9% during the fourth 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 valued at $74,713,000 after acquiring an additional 36,598 shares during the period. Denali Advisors LLC increased its holdings in shares of Byline Bancorp by 32.3% in the 4th quarter. Denali Advisors LLC now owns 125,752 shares of the company’s stock valued at $3,666,000 after acquiring an additional 30,711 shares during the period. Finally, Ieq Capital LLC purchased a new stake in Byline Bancorp in the 2nd quarter valued at $2,524,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on BY shares. Raymond James Financial started coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They set a “market perform” rating on the stock. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Piper Sandler increased their target price on shares of Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods raised their price target on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

Byline Bancorp Price Performance

BY opened at $38.18 on Friday. The business has a 50 day simple moving average of $38.08 and a 200-day simple moving average of $34.52. The stock has a market capitalization of $1.73 billion, a P/E ratio of 11.54 and a beta of 0.71. Byline Bancorp, Inc. has a 12 month low of $25.57 and a 12 month high of $40.03.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. The firm had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%. Research analysts anticipate that Byline Bancorp, Inc. will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 4th. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s payout ratio is presently 16.92%.

Insider Activity at Byline Bancorp

In other news, insider Dana Rose sold 2,421 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total transaction of $94,419.00. Following the transaction, the insider directly owned 11,605 shares of the company’s stock, valued at $452,595. This represents a 17.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Valle Perochena Antonio Del sold 300,000 shares of the firm’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 director owned 11,535,145 shares of the company’s stock, valued at $451,024,169.50. This trade represents a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 622,171 shares of company stock valued at $24,328,816. Company insiders own 29.09% of the company’s stock.

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.