Rhumbline Advisers Sells 2,489 Shares of Byline Bancorp, Inc. (NYSE:BY)

Rhumbline Advisers cut its stake in shares of Byline Bancorp, Inc. (NYSE:BY) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,247 shares of the company’s stock after selling 2,489 shares during the period. Rhumbline Advisers owned 0.11% of Byline Bancorp worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Byline Bancorp by 1,726.4% during the 1st quarter. GAMMA Investing LLC now owns 1,936 shares of the company’s stock valued at $51,000 after purchasing an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Byline Bancorp by 88.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the company’s stock worth $60,000 after buying an additional 963 shares during the period. Parkside Financial Bank & Trust purchased a new position in Byline Bancorp during the fourth quarter worth $63,000. KLP Kapitalforvaltning AS bought a new position in Byline Bancorp during the fourth quarter valued at $148,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Byline Bancorp in the fourth quarter valued at $254,000. 67.73% of the stock is owned by institutional investors.

Byline Bancorp Stock Performance

Shares of NYSE BY opened at $24.96 on Friday. The business’s 50 day moving average price is $25.72 and its 200-day moving average price is $27.40. Byline Bancorp, Inc. has a fifty-two week low of $22.34 and a fifty-two week high of $32.89. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 9.24 and a beta of 0.85.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. Byline Bancorp had a return on equity of 11.00% and a net margin of 19.10%. The company had revenue of $103.08 million for the quarter, compared to the consensus estimate of $100.82 million. Sell-side analysts predict that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, May 6th. Byline Bancorp’s payout ratio is presently 14.81%.

Analysts Set New Price Targets

Separately, Hovde Group set a $32.00 target price on shares of Byline Bancorp in a report on Monday, May 19th.

Insider Transactions at Byline Bancorp

In other Byline Bancorp news, EVP Megan Biggam sold 3,611 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $26.75, for a total value of $96,594.25. Following the completion of the sale, the executive vice president now directly owns 17,630 shares in the company, valued at approximately $471,602.50. This represents a 17.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Phillip R. Cabrera purchased 2,360 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average cost of $24.75 per share, for a total transaction of $58,410.00. Following the transaction, the director now directly owns 3,960 shares in the company, valued at approximately $98,010. This represents a 147.50% increase in their position. The disclosure for this purchase can be found here. Company insiders own 28.79% of the company’s stock.

Byline Bancorp Company Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.