Byline Bancorp, Inc. $BY Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 31.3% during the third quarter, Holdings Channel.com reports. The fund owned 588,359 shares of the company’s stock after acquiring an additional 140,219 shares during the quarter. JPMorgan Chase & Co.’s holdings in Byline Bancorp were worth $16,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in shares of Byline Bancorp in the 3rd quarter worth approximately $46,000. Farther Finance Advisors LLC grew its position in Byline Bancorp by 26.7% in the third quarter. Farther Finance Advisors LLC now owns 3,051 shares of the company’s stock worth $85,000 after buying an additional 643 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Byline Bancorp by 319.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock valued at $104,000 after buying an additional 2,973 shares in the last quarter. LSV Asset Management bought a new position in shares of Byline Bancorp in the third quarter valued at $139,000. Finally, KLP Kapitalforvaltning AS lifted its position in shares of Byline Bancorp by 39.2% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 7,100 shares of the company’s stock valued at $197,000 after acquiring an additional 2,000 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Byline Bancorp Trading Up 0.4%

Shares of BY stock opened at $31.84 on Wednesday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 11.06 and a beta of 0.84. Byline Bancorp, Inc. has a 1-year low of $22.63 and a 1-year high of $33.89. The stock’s fifty day simple moving average is $31.34 and its 200-day simple moving average is $29.30.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Byline Bancorp had a return on equity of 11.38% and a net margin of 20.54%.The firm had revenue of $117.01 million during the quarter, compared to analyst estimates of $112.51 million. On average, sell-side analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 11th that authorizes the company to buyback $2.25 million in shares. This buyback authorization authorizes the company to buy up to 0.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Tuesday, February 3rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 3rd. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 1.5%. Byline Bancorp’s payout ratio is presently 16.67%.

Wall Street Analyst Weigh In

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

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.