Byline Bancorp, Inc. $BY Stock Sold by Detalus Advisors LLC

Detalus Advisors LLC decreased its holdings in Byline Bancorp, Inc. (NYSE:BY) by 16.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163,050 shares of the company’s stock after selling 33,000 shares during the quarter. Byline Bancorp accounts for about 1.2% of Detalus Advisors LLC’s holdings, making the stock its 19th biggest holding. Detalus Advisors LLC’s holdings in Byline Bancorp were worth $6,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new stake in Byline Bancorp during the 2nd quarter worth approximately $627,000. Integrated Wealth Concepts LLC acquired a new stake in Byline Bancorp during the 2nd quarter worth approximately $130,000. Squarepoint Ops LLC acquired a new stake in Byline Bancorp during the 2nd quarter worth approximately $236,000. Allworth Financial LP boosted its position in Byline Bancorp by 43.6% in the 2nd quarter. Allworth Financial LP now owns 1,617 shares of the company’s stock valued at $61,000 after buying an additional 491 shares during the period. Finally, Corient Private Wealth LP purchased a new position in Byline Bancorp in the 2nd quarter valued at approximately $233,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Raymond James Financial assumed coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods increased their price objective on Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Zacks Research cut Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Stephens set a $40.00 target price 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 research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Byline Bancorp currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Byline Bancorp Stock Performance

BY stock opened at $36.87 on Friday. The company’s 50 day moving average price is $37.89 and its 200 day moving average price is $35.98. Byline Bancorp, Inc. has a fifty-two week low of $25.57 and a fifty-two week high of $40.03. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 11.14 and a beta of 0.73.

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 the consensus estimate of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. The firm had revenue of $117.71 million for the quarter, compared to analysts’ expectations of $115.78 million. Equities analysts forecast that Byline Bancorp, Inc. will post 3.39 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

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

Insider Activity

In other news, Director Antonio del Valle Perochena sold 300,000 shares of Byline Bancorp stock in a transaction 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 director directly owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Roberto R. Herencia sold 19,750 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $39.21, for a total transaction of $774,397.50. Following the transaction, the chief executive officer owned 411,643 shares of the company’s stock, valued at approximately $16,140,522.03. The trade was a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 622,171 shares of company stock valued at $24,328,816. 29.09% of the stock is currently owned by company insiders.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the parent company of Byline Bank, a community-focused commercial bank headquartered in Chicago, Illinois. The bank serves small and mid-sized businesses, commercial real estate investors, professional service firms and individual customers through a network of banking locations and digital services.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business lending, including Small Business Administration loans, and residential mortgage products.