Wedge Capital Management L L P NC Trims Stock Holdings in Byline Bancorp, Inc. (NYSE:BY)

Wedge Capital Management L L P NC lowered its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,082 shares of the company’s stock after selling 1,842 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of Byline Bancorp worth $725,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BY. Point72 Asset Management L.P. bought a new stake in shares of Byline Bancorp in the 2nd quarter worth approximately $26,000. CWM LLC grew its stake in shares of Byline Bancorp by 104.5% in the second quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $31,000 after acquiring an additional 676 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Byline Bancorp during the second quarter valued at $48,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Byline Bancorp in the 2nd quarter worth about $61,000. Finally, nVerses Capital LLC bought a new position in Byline Bancorp in the 2nd quarter worth about $88,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Byline Bancorp

In other Byline Bancorp news, insider John Barkidjija sold 27,009 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.18, for a total transaction of $761,113.62. Following the completion of the sale, the insider now directly owns 22,691 shares in the company, valued at $639,432.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Byline Bancorp news, insider John Barkidjija sold 27,009 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.18, for a total value of $761,113.62. Following the transaction, the insider now directly owns 22,691 shares in the company, valued at approximately $639,432.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brogan Ptacin sold 11,812 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $27.65, for a total transaction of $326,601.80. Following the sale, the insider now directly owns 25,588 shares of the company’s stock, valued at approximately $707,508.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,309 shares of company stock worth $1,131,254. 30.06% of the stock is owned by insiders.

Byline Bancorp Stock Performance

BY opened at $26.86 on Friday. The company’s 50-day simple moving average is $26.40 and its two-hundred day simple moving average is $24.50. The stock has a market capitalization of $1.19 billion, a P/E ratio of 9.84 and a beta of 1.12. Byline Bancorp, Inc. has a 52-week low of $18.39 and a 52-week high of $29.49.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. Byline Bancorp had a net margin of 19.42% and a return on equity of 12.69%. The company had revenue of $154.41 million for the quarter, compared to analysts’ expectations of $99.25 million. During the same quarter last year, the company posted $0.73 earnings per share. Research analysts forecast that Byline Bancorp, Inc. will post 2.67 EPS for the current fiscal year.

Byline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Tuesday, August 6th. Byline Bancorp’s payout ratio is currently 13.19%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BY. Stephens raised their price objective on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Piper Sandler reissued an “overweight” rating and set a $34.00 price target (up previously from $27.00) on shares of Byline Bancorp in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upped their price objective on Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

Byline Bancorp Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.