Blair William & Co. IL Purchases 71,401 Shares of Byline Bancorp, Inc. $BY

Blair William & Co. IL boosted its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 924.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,124 shares of the company’s stock after buying an additional 71,401 shares during the period. Blair William & Co. IL owned approximately 0.17% of Byline Bancorp worth $2,194,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Byline Bancorp by 99.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock worth $30,000 after acquiring an additional 546 shares during the period. State of Alaska Department of Revenue bought a new position in Byline Bancorp in the third quarter valued at approximately $46,000. Farther Finance Advisors LLC increased its stake in Byline Bancorp by 26.7% in the third quarter. Farther Finance Advisors LLC now owns 3,051 shares of the company’s stock valued at $85,000 after acquiring an additional 643 shares during the last quarter. Tower Research Capital LLC TRC raised 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 in the last quarter. Finally, LSV Asset Management bought a new stake in Byline Bancorp during the third quarter worth $139,000. 67.73% of the stock is owned by institutional investors.

Byline Bancorp Price Performance

BY stock opened at $30.49 on Friday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 10.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day simple moving average of $31.55 and a 200 day simple moving average of $29.43. Byline Bancorp, Inc. has a 1 year low of $22.63 and a 1 year high of $33.89.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, January 22nd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The firm had revenue of $117.01 million for the quarter, compared to analyst estimates of $112.51 million. Byline Bancorp had a net margin of 20.54% and a return on equity of 11.19%. Research analysts anticipate that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp declared that its Board of Directors has initiated a share repurchase program on Thursday, December 11th that permits the company to repurchase $2.25 million in shares. This repurchase authorization permits the company to reacquire up to 0.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Byline Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were issued a dividend of $0.12 per share. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. Byline Bancorp’s dividend payout ratio (DPR) is 16.67%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BY shares. Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Byline Bancorp in a report on Wednesday, January 21st. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 price objective on shares of Byline Bancorp in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.67.

Byline Bancorp Company Profile

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.