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 Byline Bancorp 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 transaction, the insider directly owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Byline Bancorp Trading Up 0.8%

BY traded up $0.31 during midday trading on Tuesday, reaching $38.76. The company’s stock had a trading volume of 154,553 shares, compared to its average volume of 244,996. Byline Bancorp, Inc. has a 1 year low of $25.57 and a 1 year high of $40.03. The stock’s 50-day moving average is $36.98 and its 200-day moving average is $33.92. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 11.71 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $115.78 million. As a group, equities research analysts forecast that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 4th. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. Byline Bancorp’s dividend payout ratio (DPR) is presently 16.92%.

Hedge Funds Weigh In On Byline Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Byline Bancorp by 34.4% in the first quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock worth $3,610,000 after acquiring an additional 35,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Byline Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after purchasing an additional 770 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Byline Bancorp by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock valued at $1,995,000 after purchasing an additional 5,213 shares during the period. Jane Street Group LLC increased its position in shares of Byline Bancorp by 71.0% during the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock valued at $3,989,000 after purchasing an additional 63,317 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Byline Bancorp by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock valued at $791,000 after purchasing an additional 712 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BY shares. Hovde Group upped their price target on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Stephens set a $40.00 price target on shares of Byline Bancorp in a research report on Monday, July 27th. Piper Sandler increased their target price on Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price target on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, Raymond James Financial assumed coverage on Byline Bancorp in a research report on Wednesday, July 8th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

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.