Byline Bancorp, Inc. $BY is Ararat Capital Management LP’s Largest Position

Ararat Capital Management LP reduced its stake in Byline Bancorp, Inc. (NYSE:BY) by 13.5% during the third quarter, HoldingsChannel.com reports. The fund owned 679,116 shares of the company’s stock after selling 106,076 shares during the quarter. Byline Bancorp comprises approximately 10.1% of Ararat Capital Management LP’s holdings, making the stock its biggest position. Ararat Capital Management LP’s holdings in Byline Bancorp were worth $18,832,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of research firms have issued reports on BY. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a research note on Wednesday, January 21st. Zacks Research upgraded Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 target price on shares of Byline Bancorp 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.67.

Byline Bancorp Stock Down 0.0%

Shares of NYSE:BY opened at $30.49 on Friday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 10.59 and a beta of 0.84. Byline Bancorp, Inc. has a 12 month low of $22.63 and a 12 month high of $33.89. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $31.58 and a 200 day moving average price of $29.44.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. Byline Bancorp had a return on equity of 11.19% and a net margin of 20.54%.The company had revenue of $117.01 million for the quarter, compared to analysts’ expectations of $112.51 million. As a group, equities research analysts predict that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders 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 represents a $0.48 annualized dividend and a dividend yield of 1.6%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.10. Byline Bancorp’s dividend payout ratio is presently 16.67%.

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

About Byline Bancorp

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.