Invesco Ltd. Acquires 4,117 Shares of Byline Bancorp, Inc. $BY

Invesco Ltd. lifted its holdings in Byline Bancorp, Inc. (NYSE:BY) by 8.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 54,568 shares of the company’s stock after acquiring an additional 4,117 shares during the quarter. Invesco Ltd. owned 0.12% of Byline Bancorp worth $1,427,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Byline Bancorp by 3.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,141 shares of the company’s stock worth $2,332,000 after acquiring an additional 2,605 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Byline Bancorp in the 1st quarter worth approximately $310,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Byline Bancorp by 51.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,780 shares of the company’s stock worth $517,000 after acquiring an additional 6,710 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of Byline Bancorp in the 1st quarter worth approximately $911,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Byline Bancorp by 98.1% in the 1st quarter. New York State Common Retirement Fund now owns 21,809 shares of the company’s stock worth $571,000 after acquiring an additional 10,800 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group set a $32.00 price target on shares of Byline Bancorp in a report on Monday, May 19th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Byline Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Byline Bancorp Stock Down 0.7%

NYSE:BY opened at $28.85 on Tuesday. The company has a fifty day moving average of $27.44 and a 200 day moving average of $26.64. Byline Bancorp, Inc. has a 52 week low of $22.63 and a 52 week high of $32.89. The firm has a market capitalization of $1.32 billion, a P/E ratio of 10.77 and a beta of 0.91.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $110.45 million during the quarter, compared to analyst estimates of $106.95 million. Byline Bancorp had a net margin of 19.03% and a return on equity of 10.98%. As a group, analysts anticipate that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Byline Bancorp’s payout ratio is presently 14.93%.

Insiders Place Their Bets

In related news, Director Phillip R. Cabrera acquired 2,360 shares of Byline Bancorp stock in a transaction on Wednesday, June 11th. The shares were acquired at an average cost of $24.75 per share, with a total value of $58,410.00. Following the transaction, the director owned 3,960 shares in the company, valued at $98,010. This trade represents a 147.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Megan Biggam sold 8,576 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $26.75, for a total transaction of $229,408.00. Following the transaction, the executive vice president directly owned 17,630 shares in the company, valued at approximately $471,602.50. The trade was a 32.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,584 shares of company stock worth $64,100. Insiders own 28.79% of the company’s stock.

Byline Bancorp 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.