Maltese Capital Management LLC Raises Position in Byline Bancorp, Inc. $BY

Maltese Capital Management LLC raised its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 23.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 265,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Byline Bancorp accounts for approximately 1.4% of Maltese Capital Management LLC’s investment portfolio, making the stock its 25th biggest position. Maltese Capital Management LLC’s holdings in Byline Bancorp were worth $7,725,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BY. EverSource Wealth Advisors LLC grew its position in shares of Byline Bancorp by 99.5% during the third quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after purchasing an additional 546 shares in the last quarter. Clearstead Advisors LLC raised its stake in Byline Bancorp by 83.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock valued at $46,000 after purchasing an additional 716 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after acquiring an additional 313 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after purchasing an additional 2,689 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Byline Bancorp by 16.1% in the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock worth $83,000 after acquiring an additional 398 shares during the period. 67.73% of the stock is owned by institutional investors.

Byline Bancorp Price Performance

Shares of BY stock opened at $35.02 on Tuesday. Byline Bancorp, Inc. has a 1-year low of $24.75 and a 1-year high of $35.84. The company has a 50-day moving average of $33.16 and a two-hundred day moving average of $31.68. The firm has a market cap of $1.59 billion, a PE ratio of 11.41 and a beta of 0.75.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. The firm had revenue of $112.40 million during the quarter, compared to analysts’ expectations of $113.89 million. Sell-side analysts anticipate that Byline Bancorp, Inc. will post 3.28 EPS for the current fiscal year.

Byline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Byline Bancorp’s dividend payout ratio (DPR) is presently 15.64%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BY shares. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Piper Sandler upped their target price on Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Byline Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

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.