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

Banc Funds Co. LLC trimmed its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 63.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,157 shares of the company’s stock after selling 68,455 shares during the quarter. Banc Funds Co. LLC’s holdings in Byline Bancorp were worth $1,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in Byline Bancorp by 99.5% in the third 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 purchased a new position in shares of Byline Bancorp during the 3rd quarter worth $46,000. Russell Investments Group Ltd. grew its position in shares of Byline Bancorp by 1,572.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after acquiring an additional 2,689 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Byline Bancorp by 26.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,051 shares of the company’s stock worth $85,000 after purchasing an additional 643 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Byline Bancorp by 319.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock worth $104,000 after purchasing an additional 2,973 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Byline Bancorp Stock Performance

Shares of NYSE BY opened at $30.49 on Friday. The stock has a market cap of $1.39 billion, a PE ratio of 10.59 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 firm has a fifty day moving average price of $31.58 and a 200-day moving average price of $29.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.95 and a quick ratio of 0.95.

Byline Bancorp (NYSE:BY) last released 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 company had revenue of $117.01 million for the quarter, compared to analysts’ expectations of $112.51 million. Byline Bancorp had a net margin of 20.54% and a return on equity of 11.19%. Equities analysts anticipate that Byline Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

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

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Tuesday, February 3rd were issued a dividend of $0.12 per share. 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 1.6%. The ex-dividend date of this dividend was Tuesday, February 3rd. Byline Bancorp’s payout ratio is 16.67%.

Wall Street Analysts Forecast Growth

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