Banc Funds Co. LLC Sells 68,455 Shares of Byline Bancorp, Inc. $BY

Banc Funds Co. LLC decreased its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 63.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,157 shares of the company’s stock after selling 68,455 shares during the quarter. Banc Funds Co. LLC owned 0.09% of Byline Bancorp worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock worth $3,610,000 after acquiring an additional 35,324 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Byline Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after purchasing an additional 770 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Byline Bancorp by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock valued at $1,995,000 after purchasing an additional 5,213 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Byline Bancorp by 71.0% in the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock worth $3,989,000 after purchasing an additional 63,317 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its holdings in shares of Byline Bancorp by 79.5% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 25,461 shares of the company’s stock worth $681,000 after purchasing an additional 11,277 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a report on Wednesday, January 21st. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective on shares of Byline Bancorp in a report on Tuesday, January 27th. Finally, Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $33.67.

Byline Bancorp Trading Down 0.0%

Shares of BY stock opened at $30.49 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. Byline Bancorp, Inc. has a 12-month low of $22.63 and a 12-month high of $33.89. The stock has a market capitalization of $1.39 billion, a P/E ratio of 10.59 and a beta of 0.84. The firm’s 50 day moving average is $31.58 and its 200 day moving average is $29.44.

Byline Bancorp (NYSE:BY) last announced 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 business had revenue of $117.01 million during 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 expect that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

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

Byline Bancorp Increases Dividend

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

Byline Bancorp 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.