Ieq Capital LLC Invests $2.52 Million in Byline Bancorp, Inc. $BY

Ieq Capital LLC purchased a new stake in Byline Bancorp, Inc. (NYSE:BY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 67,013 shares of the company’s stock, valued at approximately $2,524,000. Ieq Capital LLC owned 0.15% of Byline Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Byline Bancorp in the second quarter valued at about $132,220,000. Dimensional Fund Advisors LP increased its position in Byline Bancorp by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock worth $74,713,000 after acquiring an additional 36,598 shares during the period. Vanguard Group Inc. increased its position in Byline Bancorp by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,822,619 shares of the company’s stock worth $53,129,000 after acquiring an additional 47,798 shares during the period. State Street Corp raised its stake in Byline Bancorp by 0.9% in the 4th quarter. State Street Corp now owns 997,040 shares of the company’s stock worth $29,064,000 after purchasing an additional 8,994 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Byline Bancorp by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 764,144 shares of the company’s stock valued at $22,278,000 after purchasing an additional 13,810 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Dana Rose sold 2,421 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total value of $94,419.00. Following the completion of the transaction, the insider owned 11,605 shares of the company’s stock, valued at approximately $452,595. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the firm’s stock in a transaction that occurred on 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 owned 11,535,145 shares in the company, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 622,171 shares of company stock worth $24,328,816. Insiders own 29.09% of the company’s stock.

Byline Bancorp Price Performance

Shares of BY opened at $38.40 on Tuesday. The firm has a 50 day simple moving average of $37.89 and a two-hundred day simple moving average of $34.42. Byline Bancorp, Inc. has a one year low of $25.57 and a one year high of $40.03. The company has a market cap of $1.74 billion, a P/E ratio of 11.60 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.The firm had revenue of $117.71 million for the quarter, compared to the consensus estimate of $115.78 million. On average, analysts expect that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.5%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, August 4th. Byline Bancorp’s payout ratio is 16.92%.

Wall Street Analyst Weigh In

Several research analysts have recently commented 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. Keefe, Bruyette & Woods increased their price target on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Raymond James Financial assumed coverage on 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 objective on Byline Bancorp in a report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Byline Bancorp 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.