Fiducient Advisors LLC Decreases Stake in Byline Bancorp, Inc. $BY

Fiducient Advisors LLC lessened its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 26.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,250 shares of the company’s stock after selling 22,308 shares during the quarter. Fiducient Advisors LLC owned about 0.13% of Byline Bancorp worth $1,698,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue bought a new position in shares of Byline Bancorp during the 3rd quarter valued at approximately $46,000. Farther Finance Advisors LLC purchased a new stake in Byline Bancorp during the second quarter valued at $64,000. CWM LLC lifted its position in Byline Bancorp by 59.5% during the second 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 last quarter. Tower Research Capital LLC TRC lifted its position in Byline Bancorp by 319.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock valued at $104,000 after purchasing an additional 2,973 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Byline Bancorp by 39.2% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 7,100 shares of the company’s stock worth $197,000 after buying an additional 2,000 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BY has been the topic of several recent research reports. Piper Sandler upped their target price on shares of Byline Bancorp from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. 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 report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Byline Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Byline Bancorp Price Performance

Shares of NYSE:BY opened at $31.58 on Thursday. The firm has a market capitalization of $1.45 billion, a PE ratio of 11.24 and a beta of 0.86. The business has a 50 day simple moving average of $29.32 and a two-hundred day simple moving average of $28.22. Byline Bancorp, Inc. has a 1 year low of $22.63 and a 1 year high of $31.78.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.12. Byline Bancorp had a return on equity of 11.26% and a net margin of 20.01%.The firm had revenue of $115.74 million for the quarter, compared to the consensus estimate of $111.49 million. Equities research analysts expect that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp announced that its board has initiated a stock repurchase plan on Thursday, December 11th that authorizes the company to repurchase $2.25 million in shares. This repurchase authorization authorizes the company to repurchase up to 0.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Thomas Abraham sold 23,400 shares of Byline Bancorp stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $26.89, for a total transaction of $629,226.00. Following the completion of the sale, the insider directly owned 38,882 shares in the company, valued at approximately $1,045,536.98. This trade represents a 37.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.79% of the stock is currently owned by insiders.

About Byline Bancorp

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.