Quantbot Technologies LP Invests $691,000 in Byline Bancorp, Inc. $BY

Quantbot Technologies LP acquired a new stake in Byline Bancorp, Inc. (NYSE:BY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,348 shares of the company’s stock, valued at approximately $691,000.

Several other large investors have also recently added to or reduced their stakes in the business. Clearstead Advisors LLC lifted its holdings in Byline Bancorp by 83.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after buying an additional 716 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Byline Bancorp in the second quarter worth $61,000. Royal Bank of Canada increased its position in shares of Byline Bancorp by 58.3% during the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after acquiring an additional 859 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Byline Bancorp by 15.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after acquiring an additional 313 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after acquiring an additional 2,689 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Byline Bancorp Trading Down 0.2%

Byline Bancorp stock opened at $38.18 on Friday. The company has a fifty day simple moving average of $38.08 and a 200-day simple moving average of $34.52. The stock has a market cap of $1.73 billion, a P/E ratio of 11.54 and a beta of 0.71. Byline Bancorp, Inc. has a 12-month low of $25.57 and a 12-month high of $40.03.

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

Byline Bancorp Increases Dividend

The firm 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 represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 4th. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s dividend payout ratio (DPR) is currently 16.92%.

Analysts Set New Price Targets

BY has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Piper Sandler increased their price target on Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Hovde Group lifted their price objective on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Zacks Research downgraded Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insiders Place Their Bets

In related news, CEO Roberto R. Herencia sold 19,750 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $39.21, for a total value of $774,397.50. Following the completion of the transaction, the chief executive officer directly owned 411,643 shares of the company’s stock, valued at $16,140,522.03. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dana Rose sold 2,421 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total transaction of $94,419.00. Following the completion of the transaction, the insider owned 11,605 shares in the company, valued at $452,595. This represents a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 622,171 shares of company stock worth $24,328,816 over the last 90 days. Insiders own 29.09% of the company’s stock.

About Byline Bancorp

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.