Canada Pension Plan Investment Board Purchases New Position in Byline Bancorp, Inc. $BY

Canada Pension Plan Investment Board purchased a new stake in Byline Bancorp, Inc. (NYSE:BY) during the second quarter, according to its most recent filing with the SEC. The firm purchased 26,000 shares of the company’s stock, valued at approximately $979,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BY. Clearstead Advisors LLC grew its holdings in Byline Bancorp by 83.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock valued at $46,000 after purchasing an additional 716 shares during the period. Allworth Financial LP acquired a new stake in Byline Bancorp in the second quarter worth $61,000. Royal Bank of Canada boosted its position in shares of Byline Bancorp by 58.3% during the first quarter. Royal Bank of Canada now owns 2,332 shares of the company’s stock worth $73,000 after purchasing an additional 859 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after buying an additional 313 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Byline Bancorp by 1,572.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after buying an additional 2,689 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Byline Bancorp

In related news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the completion of the transaction, the insider directly owned 11,535,145 shares in the company, valued at approximately $451,024,169.50. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Valle Perochena Antonio Del sold 300,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.10, for a total value of $11,730,000.00. Following the transaction, the director owned 11,535,145 shares of the company’s stock, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 622,171 shares of company stock valued at $24,328,816. 29.09% of the stock is currently owned by company insiders.

Byline Bancorp Stock Performance

Shares of BY opened at $37.94 on Tuesday. Byline Bancorp, Inc. has a twelve month low of $25.57 and a twelve month high of $40.03. The firm’s 50 day moving average price is $38.19 and its two-hundred day moving average price is $34.59. The firm has a market cap of $1.71 billion, a P/E ratio of 11.46 and a beta of 0.71.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. The business had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. On average, sell-side analysts anticipate that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.12. Byline Bancorp’s dividend payout ratio (DPR) is 16.92%.

Analyst Ratings Changes

A number of analysts recently commented on BY shares. Raymond James Financial started coverage on shares of Byline Bancorp in a research report on Wednesday, July 8th. They issued a “market perform” rating for the company. Piper Sandler lifted their target price on Byline Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Stephens set a $40.00 target price on Byline Bancorp in a research note on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods raised their price target on Byline Bancorp from $37.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Byline Bancorp presently has an average rating of “Moderate Buy” and an average target price of $43.00.

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.