Byline Bancorp, Inc. $BY Shares Sold by Detalus Advisors LLC

Detalus Advisors LLC reduced its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 16.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,050 shares of the company’s stock after selling 33,000 shares during the period. Byline Bancorp accounts for about 1.2% of Detalus Advisors LLC’s holdings, making the stock its 19th biggest holding. Detalus Advisors LLC owned approximately 0.36% of Byline Bancorp worth $6,005,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BY. BlackRock Inc. purchased a new stake in shares of Byline Bancorp in the 2nd quarter valued at approximately $132,220,000. Dimensional Fund Advisors LP increased its holdings in shares of Byline Bancorp by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock worth $74,713,000 after buying an additional 36,598 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Byline Bancorp during the 1st quarter valued at approximately $7,176,000. Empowered Funds LLC purchased a new stake in shares of Byline Bancorp during the 2nd quarter valued at approximately $8,031,000. Finally, Denali Advisors LLC raised its position in shares of Byline Bancorp by 10.8% during the 2nd quarter. Denali Advisors LLC now owns 185,516 shares of the company’s stock valued at $6,987,000 after buying an additional 18,100 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Byline Bancorp

In other news, CEO Roberto R. Herencia sold 19,750 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $39.21, for a total transaction of $774,397.50. Following the completion of the transaction, the chief executive officer directly owned 411,643 shares in the company, valued at $16,140,522.03. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Antonio del Valle Perochena sold 300,000 shares of Byline Bancorp stock in a transaction on Friday, August 7th. The shares were sold at an average price of $39.10, for a total value of $11,730,000.00. Following the completion of the sale, the director directly owned 11,535,145 shares of the company’s stock, valued at $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. Insiders have sold 622,171 shares of company stock valued at $24,328,816 over the last three months. 29.09% of the stock is currently owned by company insiders.

Byline Bancorp Price Performance

Shares of BY opened at $36.87 on Friday. Byline Bancorp, Inc. has a 1-year low of $25.57 and a 1-year high of $40.03. The stock has a market cap of $1.67 billion, a PE ratio of 11.14 and a beta of 0.73. The firm has a 50-day simple moving average of $37.89 and a two-hundred day simple moving average of $35.98.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The business had revenue of $117.71 million for the quarter, compared to the consensus estimate of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. As a group, sell-side analysts expect that Byline Bancorp, Inc. will post 3.39 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

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

Analysts Set New Price Targets

BY has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective 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. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research report on Friday, August 7th. Piper Sandler upped their price target on Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Hovde Group upped their price target on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Finally, Raymond James Financial began coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating for the company. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Byline Bancorp Profile

Byline Bancorp, Inc is the parent company of Byline Bank, a community-focused commercial bank headquartered in Chicago, Illinois. The bank serves small and mid-sized businesses, commercial real estate investors, professional service firms and individual customers through a network of banking locations and digital services.

Byline Bank offers commercial and industrial lending, commercial real estate financing, small business lending, including Small Business Administration loans, and residential mortgage products.