Quest Partners LLC Reduces Holdings in Byline Bancorp, Inc. (NYSE:BY)

Quest Partners LLC lowered its position in Byline Bancorp, Inc. (NYSE:BY) by 11.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,320 shares of the company’s stock after selling 2,011 shares during the period. Quest Partners LLC’s holdings in Byline Bancorp were worth $437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BY. New York State Teachers Retirement System grew its position in shares of Byline Bancorp by 25.3% in the third quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock valued at $76,000 after purchasing an additional 574 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Byline Bancorp by 8.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,934 shares of the company’s stock valued at $212,000 after buying an additional 619 shares in the last quarter. CWM LLC grew its holdings in Byline Bancorp by 104.5% in the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after buying an additional 676 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Byline Bancorp in the 2nd quarter worth $26,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Byline Bancorp by 10.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company’s stock worth $310,000 after acquiring an additional 1,277 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Brogan Ptacin sold 11,812 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $27.65, for a total transaction of $326,601.80. Following the transaction, the insider now owns 25,588 shares of the company’s stock, valued at approximately $707,508.20. This represents a 31.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Stephens increased their price target 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $34.00 price target on shares of Byline Bancorp in a research report on Tuesday, October 29th.

Byline Bancorp Price Performance

NYSE BY opened at $31.94 on Friday. The stock has a market capitalization of $1.42 billion, a P/E ratio of 11.61 and a beta of 1.12. The firm’s 50-day moving average is $27.71 and its two-hundred day moving average is $25.94. Byline Bancorp, Inc. has a 12 month low of $19.70 and a 12 month high of $32.53.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.13%. Byline Bancorp’s dividend payout ratio is currently 13.09%.

About Byline Bancorp

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.