Rhumbline Advisers Grows Stock Position in Byline Bancorp, Inc. (NYSE:BY)

Rhumbline Advisers raised its holdings in Byline Bancorp, Inc. (NYSE:BY) by 23.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,183 shares of the company’s stock after buying an additional 9,599 shares during the quarter. Rhumbline Advisers’ holdings in Byline Bancorp were worth $1,215,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of BY. Dimensional Fund Advisors LP raised its stake in shares of Byline Bancorp by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,626,661 shares of the company’s stock worth $38,325,000 after purchasing an additional 68,552 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Byline Bancorp by 3.4% in the first quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock worth $33,700,000 after purchasing an additional 51,682 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Byline Bancorp in the fourth quarter worth about $976,000. Quattro Financial Advisors LLC raised its stake in shares of Byline Bancorp by 124,900.0% in the first quarter. Quattro Financial Advisors LLC now owns 30,000 shares of the company’s stock worth $652,000 after purchasing an additional 29,976 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Byline Bancorp by 16.1% during the second quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company’s stock worth $4,537,000 after acquiring an additional 26,539 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Byline Bancorp

In other news, insider John Barkidjija sold 1,488 shares of Byline Bancorp stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $29.26, for a total value of $43,538.88. Following the sale, the insider now directly owns 30,691 shares of the company’s stock, valued at $898,018.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Pamela C. Stewart acquired 3,850 shares of Byline Bancorp stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $25.99 per share, for a total transaction of $100,061.50. Following the completion of the transaction, the director now owns 6,336 shares in the company, valued at approximately $164,672.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Barkidjija sold 1,488 shares of Byline Bancorp stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $29.26, for a total value of $43,538.88. Following the transaction, the insider now owns 30,691 shares in the company, valued at approximately $898,018.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,309 shares of company stock valued at $1,131,254. Company insiders own 30.06% of the company’s stock.

Byline Bancorp Stock Down 2.1 %

Byline Bancorp stock opened at $26.98 on Friday. Byline Bancorp, Inc. has a 52 week low of $18.39 and a 52 week high of $29.49. The business’s 50-day moving average price is $26.93 and its 200 day moving average price is $23.84. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 9.88 and a beta of 1.12.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. Byline Bancorp had a return on equity of 12.69% and a net margin of 19.42%. The company had revenue of $154.41 million for the quarter, compared to analyst estimates of $99.25 million. During the same period last year, the company earned $0.73 earnings per share. Equities analysts expect that Byline Bancorp, Inc. will post 2.67 EPS for the current year.

Byline Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, August 6th. Byline Bancorp’s payout ratio is currently 13.19%.

Wall Street Analyst Weigh In

Several research firms recently commented on BY. Stephens raised their target price on Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their target price on Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $34.00 target price (up from $27.00) on shares of Byline Bancorp in a report on Wednesday, July 31st.

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.