Connor Clark & Lunn Investment Management Ltd. Sells 24,581 Shares of Byline Bancorp, Inc. $BY

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Byline Bancorp, Inc. (NYSE:BY) by 27.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,560 shares of the company’s stock after selling 24,581 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.14% of Byline Bancorp worth $1,726,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new stake in shares of Byline Bancorp in the second quarter valued at about $64,000. CWM LLC boosted its holdings in Byline Bancorp by 59.5% in the 2nd quarter. CWM LLC now owns 3,650 shares of the company’s stock valued at $98,000 after purchasing an additional 1,362 shares during the period. Blair William & Co. IL bought a new stake in Byline Bancorp in the 2nd quarter valued at about $206,000. Harbor Capital Advisors Inc. grew its position in shares of Byline Bancorp by 5.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,856 shares of the company’s stock worth $263,000 after purchasing an additional 552 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Byline Bancorp during the first quarter worth approximately $310,000. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Byline Bancorp

In other news, insider Dana Rose sold 1,999 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $28.76, for a total transaction of $57,491.24. Following the sale, the insider directly owned 10,192 shares in the company, valued at approximately $293,121.92. The trade was a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas Abraham sold 23,400 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $26.89, for a total transaction of $629,226.00. Following the completion of the transaction, the insider owned 38,882 shares of the company’s stock, valued at approximately $1,045,536.98. This trade represents a 37.57% decrease in their position. The SEC filing for this sale provides additional information. 28.79% of the stock is owned by corporate insiders.

Byline Bancorp Trading Up 0.9%

BY opened at $27.53 on Monday. The company has a market cap of $1.26 billion, a P/E ratio of 9.80 and a beta of 0.92. The company’s 50 day moving average is $27.63 and its 200-day moving average is $27.18. Byline Bancorp, Inc. has a 1-year low of $22.63 and a 1-year high of $32.89.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Monday, June 6th. The company reported $0.57 EPS for the quarter. The business had revenue of $72.38 million during the quarter. Byline Bancorp had a net margin of 20.01% and a return on equity of 11.26%. On average, equities analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 18th. Investors of record on Tuesday, November 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.5%. Byline Bancorp’s dividend payout ratio (DPR) is 14.23%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BY shares. Keefe, Bruyette & Woods boosted their price target on Byline Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a report on Wednesday, October 8th. Finally, Piper Sandler increased their target price on Byline Bancorp from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Byline Bancorp has an average rating of “Moderate Buy” and a consensus target price of $33.25.

About Byline Bancorp

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.