PDT Partners LLC Invests $1.03 Million in Byline Bancorp, Inc. $BY

PDT Partners LLC acquired a new position in shares of Byline Bancorp, Inc. (NYSE:BY) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 27,315 shares of the company’s stock, valued at approximately $1,029,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new position in shares of Byline Bancorp during the first quarter worth $1,466,000. Hsbc Holdings PLC lifted its holdings in shares of Byline Bancorp by 135.9% during the 4th quarter. Hsbc Holdings PLC now owns 70,502 shares of the company’s stock valued at $2,056,000 after purchasing an additional 40,613 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Byline Bancorp by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock worth $74,713,000 after purchasing an additional 36,598 shares in the last quarter. Denali Advisors LLC boosted its position in shares of Byline Bancorp by 32.3% in the 4th quarter. Denali Advisors LLC now owns 125,752 shares of the company’s stock worth $3,666,000 after purchasing an additional 30,711 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in Byline Bancorp during the 2nd quarter worth $2,524,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Stephens set a $40.00 target price on Byline Bancorp in a research report on Monday, July 27th. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Raymond James Financial began coverage on Byline Bancorp in a research note on Wednesday, July 8th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Piper Sandler increased their price objective on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Byline Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Byline Bancorp Price Performance

Shares of BY opened at $38.22 on Thursday. The company’s fifty day moving average price is $38.02 and its 200-day moving average price is $34.49. Byline Bancorp, Inc. has a 1-year low of $25.57 and a 1-year high of $40.03. The firm has a market capitalization of $1.73 billion, a PE ratio of 11.55 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.The company had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. As a group, research analysts anticipate that Byline Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a $0.14 dividend. This is a boost 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 dividend payout ratio is currently 16.92%.

Insider Transactions at Byline Bancorp

In other news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.10, for a total value of $11,730,000.00. Following the completion of the transaction, the insider directly owned 11,535,145 shares in the company, valued at $451,024,169.50. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Valle Perochena Antonio Del sold 300,000 shares of Byline Bancorp stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.10, for a total value of $11,730,000.00. Following the sale, the director directly owned 11,535,145 shares of the company’s stock, valued at $451,024,169.50. This trade represents a 2.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 622,171 shares of company stock valued at $24,328,816. 29.09% of the stock is owned by company insiders.

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.