JPMorgan Chase & Co. Boosts Stake in Byline Bancorp, Inc. $BY

JPMorgan Chase & Co. lifted its holdings in Byline Bancorp, Inc. (NYSE:BY) by 31.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 588,359 shares of the company’s stock after purchasing an additional 140,219 shares during the quarter. JPMorgan Chase & Co.’s holdings in Byline Bancorp were worth $16,315,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in Byline Bancorp by 99.5% during the third quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after purchasing an additional 546 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Byline Bancorp in the third quarter valued at approximately $46,000. Russell Investments Group Ltd. raised 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 buying an additional 2,689 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Byline Bancorp by 26.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,051 shares of the company’s stock valued at $85,000 after buying an additional 643 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Byline Bancorp by 319.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock valued at $104,000 after buying an additional 2,973 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

BY has been the subject of several recent analyst reports. Zacks Research raised shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a report on Wednesday, January 21st. Finally, Piper Sandler reissued an “overweight” rating and set a $37.00 target price on shares of Byline Bancorp in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $33.67.

Byline Bancorp Stock Performance

NYSE BY opened at $31.22 on Friday. The company has a market cap of $1.42 billion, a PE ratio of 10.84 and a beta of 0.84. The stock’s 50 day simple moving average is $31.72 and its 200-day simple moving average is $29.55. Byline Bancorp, Inc. has a 1-year low of $22.63 and a 1-year high of $33.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.95 and a quick ratio of 0.95.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. Byline Bancorp had a return on equity of 11.19% and a net margin of 20.54%.The firm had revenue of $117.01 million during the quarter, compared to analysts’ expectations of $112.51 million. As a group, equities research analysts anticipate that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 3rd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 3rd. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.5%. Byline Bancorp’s payout ratio is currently 16.67%.

Byline Bancorp declared that its board has authorized a stock buyback program on Thursday, December 11th that allows the company to repurchase $2.25 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.