Denali Advisors LLC Purchases 18,100 Shares of Byline Bancorp, Inc. $BY

Denali Advisors LLC lifted its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,516 shares of the company’s stock after purchasing an additional 18,100 shares during the period. Denali Advisors LLC owned 0.41% of Byline Bancorp worth $6,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clearstead Advisors LLC grew its holdings in Byline Bancorp by 83.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after purchasing an additional 716 shares during the period. Royal Bank of Canada lifted its position in shares of Byline Bancorp by 58.3% in the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock valued at $73,000 after buying an additional 859 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Byline Bancorp by 15.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after buying an additional 313 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Byline Bancorp by 1,572.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after acquiring an additional 2,689 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of Byline Bancorp by 16.1% during the 4th quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock worth $83,000 after acquiring an additional 398 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Byline Bancorp

In other news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.10, for a total value of $11,730,000.00. Following the completion of the sale, the insider owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Roberto R. Herencia sold 19,750 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $39.21, for a total transaction of $774,397.50. Following the completion of the transaction, the chief executive officer owned 411,643 shares in the company, valued at $16,140,522.03. This trade represents a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 622,171 shares of company stock worth $24,328,816. Insiders own 29.09% of the company’s stock.

Wall Street Analysts Forecast Growth

BY has been the topic of a number of research analyst reports. Hovde Group increased their price target on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Stephens set a $40.00 price objective on shares of Byline Bancorp in a report on Monday, July 27th. Keefe, Bruyette & Woods increased their price objective on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Byline Bancorp Trading Down 2.3%

Shares of NYSE BY opened at $38.20 on Thursday. The firm has a market cap of $1.73 billion, a P/E ratio of 11.54 and a beta of 0.71. The business’s 50 day moving average is $37.70 and its 200-day moving average is $34.29. Byline Bancorp, Inc. has a 1-year low of $25.57 and a 1-year high of $40.03.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.The business had revenue of $117.71 million during the quarter, compared to the consensus estimate of $115.78 million. Analysts forecast that Byline Bancorp, Inc. will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.14 per share. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 4th. Byline Bancorp’s payout ratio is 16.92%.

Byline Bancorp Company Profile

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.