Robeco Institutional Asset Management B.V. acquired a new stake in Byline Bancorp, Inc. (NYSE:BY – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 19,982 shares of the company’s stock, valued at approximately $736,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new position in shares of Byline Bancorp during the 2nd quarter worth approximately $627,000. Integrated Wealth Concepts LLC purchased a new position in shares of Byline Bancorp during the 2nd quarter valued at approximately $130,000. Squarepoint Ops LLC acquired a new stake in Byline Bancorp in the 2nd quarter valued at $236,000. Allworth Financial LP grew its stake 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 acquiring an additional 491 shares during the period. Finally, Corient Private Wealth LP acquired a new stake in Byline Bancorp in the 2nd quarter valued at $233,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Byline Bancorp
In other Byline Bancorp news, Director Pamela C. Stewart bought 1,160 shares of Byline Bancorp stock in a transaction dated Monday, October 26th. The stock was acquired at an average cost of $38.61 per share, for a total transaction of $44,787.60. Following the completion of the transaction, the director directly owned 7,496 shares of the company’s stock, valued at approximately $289,420.56. This represents a 18.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the completion of the transaction, the insider directly owned 11,535,145 shares in the company, valued at approximately $451,024,169.50. This represents a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 1,560 shares of company stock valued at $60,138 and have sold 622,171 shares valued at $24,328,816. 29.09% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
BY has been the subject of several recent analyst reports. Stephens set a $40.00 price target on shares of Byline Bancorp in a report on Monday, July 27th. Zacks Research downgraded shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research report on Friday, August 7th. Piper Sandler boosted 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. Finally, Raymond James Financial reissued a “market perform” rating on shares of Byline Bancorp in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.
Check Out Our Latest Research Report on BY
Byline Bancorp Price Performance
NYSE BY opened at $38.36 on Tuesday. The stock’s 50 day simple moving average is $37.73 and its 200-day simple moving average is $34.80. The company has a market cap of $1.73 billion, a PE ratio of 11.18 and a beta of 0.73. Byline Bancorp, Inc. has a 1-year low of $26.39 and a 1-year high of $40.03.
Byline Bancorp (NYSE:BY – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.82 by $0.12. Byline Bancorp had a return on equity of 12.04% and a net margin of 24.06%. The firm had revenue of $121.01 million during the quarter, compared to analysts’ expectations of $116.88 million. On average, equities research analysts anticipate that Byline Bancorp, Inc. will post 3.39 EPS for the current fiscal year.
Byline Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, November 3rd. Byline Bancorp’s payout ratio is 16.33%.
Byline Bancorp Profile
Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The company focuses on serving small and mid-sized businesses, entrepreneurs, commercial real estate investors and consumers through a relationship-based banking model.
Byline Bank offers commercial and industrial lending, commercial real estate financing, small business and SBA loans, business checking and savings accounts, treasury management, and other cash-management services.
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