EJF Capital LLC Takes $802,000 Position in Byline Bancorp, Inc. $BY

EJF Capital LLC bought a new stake in shares of Byline Bancorp, Inc. (NYSE:BY) in the second quarter, Holdings Channel reports. The fund bought 30,000 shares of the company’s stock, valued at approximately $802,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BY. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Byline Bancorp by 3.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,141 shares of the company’s stock valued at $2,332,000 after acquiring an additional 2,605 shares during the period. Invesco Ltd. lifted its stake in shares of Byline Bancorp by 8.2% in the 1st quarter. Invesco Ltd. now owns 54,568 shares of the company’s stock valued at $1,427,000 after purchasing an additional 4,117 shares during the period. Nuveen LLC purchased a new stake in Byline Bancorp during the first quarter worth $6,848,000. American Century Companies Inc. grew its position in Byline Bancorp by 8.8% during the first quarter. American Century Companies Inc. now owns 690,304 shares of the company’s stock valued at $18,058,000 after buying an additional 55,858 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new position in Byline Bancorp in the first quarter valued at $7,791,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Thomas Abraham sold 23,400 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $26.89, for a total transaction of $629,226.00. Following the completion of the transaction, the insider directly owned 38,882 shares of the company’s stock, valued at $1,045,536.98. The trade was a 37.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 28.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BY. Keefe, Bruyette & Woods raised their target price on Byline Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Byline Bancorp in a report on Wednesday, October 8th. Finally, Piper Sandler increased their price objective on Byline Bancorp from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.25.

Byline Bancorp Stock Performance

NYSE BY opened at $30.74 on Friday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 10.94 and a beta of 0.86. The firm has a 50 day simple moving average of $27.65 and a 200-day simple moving average of $27.45. Byline Bancorp, Inc. has a one year low of $22.63 and a one year high of $31.48.

Byline Bancorp (NYSE:BY) last released its earnings results on Monday, June 6th. The company reported $0.57 earnings per share (EPS) for the quarter. The company had revenue of $72.38 million for the quarter. Byline Bancorp had a net margin of 20.01% and a return on equity of 11.26%. Equities analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

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

Byline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 18th. Investors of record on Tuesday, November 4th were issued a $0.10 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. Byline Bancorp’s dividend payout ratio (DPR) is 14.23%.

About Byline Bancorp

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.