Empowered Funds LLC Makes New $8.03 Million Investment in Byline Bancorp, Inc. $BY

Empowered Funds LLC bought a new stake in shares of Byline Bancorp, Inc. (NYSE:BY) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 213,253 shares of the company’s stock, valued at approximately $8,031,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in shares of Byline Bancorp in the 1st quarter valued at approximately $1,466,000. Hsbc Holdings PLC lifted its holdings in Byline Bancorp by 135.9% in the 4th quarter. Hsbc Holdings PLC now owns 70,502 shares of the company’s stock worth $2,056,000 after purchasing an additional 40,613 shares during the last quarter. PDT Partners LLC bought a new stake in Byline Bancorp during the second quarter worth approximately $1,029,000. BlackRock Inc. bought a new stake in Byline Bancorp during the second quarter worth approximately $132,220,000. Finally, Dimensional Fund Advisors LP grew its holdings in Byline Bancorp by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock valued at $74,713,000 after purchasing an additional 36,598 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Roberto R. Herencia sold 19,750 shares of the stock in a transaction on 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 sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Valle Perochena Antonio Del sold 300,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the sale, the director owned 11,535,145 shares in the company, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 622,171 shares of company stock valued at $24,328,816 over the last 90 days. 29.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on BY shares. Raymond James Financial started coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They issued a “market perform” rating on the stock. Hovde Group upped their price objective on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Stephens set a $40.00 target price on shares of Byline Bancorp in a research note on Monday, July 27th. Piper Sandler lifted their target price on shares of Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods boosted 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 report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Byline Bancorp Trading Up 0.3%

Shares of BY opened at $38.38 on Friday. Byline Bancorp, Inc. has a 1 year low of $25.57 and a 1 year high of $40.03. The stock has a market cap of $1.73 billion, a P/E ratio of 11.60 and a beta of 0.71. The stock’s 50-day moving average price is $38.14 and its two-hundred day moving average price is $34.55.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The company had revenue of $117.71 million during 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, equities analysts forecast that Byline Bancorp, Inc. will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were given 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.