Brandywine Global Investment Management LLC Sells 3,900 Shares of Byline Bancorp, Inc. $BY

Brandywine Global Investment Management LLC lessened its stake in Byline Bancorp, Inc. (NYSE:BY) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,032 shares of the company’s stock after selling 3,900 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.21% of Byline Bancorp worth $2,620,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC acquired a new stake in Byline Bancorp in the second quarter valued at $64,000. CWM LLC raised its holdings in shares of 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 shares of Byline Bancorp in the 2nd quarter valued at about $206,000. Harbor Capital Advisors Inc. grew its holdings in Byline Bancorp by 5.9% during the second quarter. Harbor Capital Advisors Inc. now owns 9,856 shares of the company’s stock worth $263,000 after purchasing an additional 552 shares during the period. Finally, XTX Topco Ltd bought a new position in Byline Bancorp during the first quarter worth about $310,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Byline Bancorp Price Performance

BY opened at $27.48 on Tuesday. The business has a fifty day simple moving average of $27.39 and a 200 day simple moving average of $27.22. Byline Bancorp, Inc. has a 1 year low of $22.63 and a 1 year high of $32.89. The company has a market capitalization of $1.26 billion, a PE ratio of 9.78 and a beta of 0.92.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Monday, June 6th. The company reported $0.57 earnings per share for the quarter. The firm had revenue of $72.38 million for the quarter. Byline Bancorp had a return on equity of 11.26% and a net margin of 20.01%. Equities analysts anticipate that Byline Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 18th. Shareholders of record on Tuesday, November 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.5%. Byline Bancorp’s payout ratio is currently 14.23%.

Insider Buying and Selling

In related news, insider Dana Rose sold 1,999 shares of the stock in a transaction that occurred on 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 owned 10,192 shares of the company’s stock, valued at $293,121.92. This represents a 16.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas Abraham sold 23,400 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $26.89, for a total value of $629,226.00. Following the transaction, the insider owned 38,882 shares in the company, valued at approximately $1,045,536.98. This trade represents a 37.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 28.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BY. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler boosted 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.