Ieq Capital LLC acquired a new position in shares of Byline Bancorp, Inc. (NYSE:BY – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 67,013 shares of the company’s stock, valued at approximately $2,524,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its stake in shares of Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after purchasing an additional 313 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Byline Bancorp by 16.1% during the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock worth $83,000 after purchasing an additional 398 shares during the last quarter. Invesco Ltd. increased its stake in shares of Byline Bancorp by 1.2% in the fourth quarter. Invesco Ltd. now owns 51,138 shares of the company’s stock valued at $1,491,000 after buying an additional 586 shares during the period. Strs Ohio raised its holdings in Byline Bancorp by 5.4% in the 4th quarter. Strs Ohio now owns 11,700 shares of the company’s stock valued at $341,000 after buying an additional 600 shares during the last quarter. Finally, CWM LLC boosted its position in Byline Bancorp by 2.7% during the 4th quarter. CWM LLC now owns 25,016 shares of the company’s stock worth $729,000 after buying an additional 657 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.
Insider Activity at Byline Bancorp
In related news, CEO Roberto R. Herencia sold 19,750 shares of the company’s stock in a transaction that occurred 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 directly owned 411,643 shares of the company’s stock, valued at approximately $16,140,522.03. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Rose sold 2,421 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was 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 in the company, valued at approximately $452,595. The trade was a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 622,171 shares of company stock worth $24,328,816 over the last three months. 29.09% of the stock is currently owned by company insiders.
Byline Bancorp Trading Up 0.4%
Byline Bancorp (NYSE:BY – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12. The business had revenue of $117.71 million during the quarter, compared to analysts’ expectations of $115.78 million. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%. On average, analysts forecast that Byline Bancorp, Inc. will post 3.35 earnings per share for the current year.
Byline Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders 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 an increase 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 presently 16.92%.
Analyst Upgrades and Downgrades
BY has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Hovde Group increased their price objective on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Stephens set a $40.00 target price on Byline Bancorp in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Finally, Raymond James Financial began coverage on Byline Bancorp in a research report on Wednesday, July 8th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.
Get Our Latest Stock Analysis on BY
About Byline Bancorp
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.
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