Wealth Enhancement Advisory Services LLC Takes $455,000 Position in Byline Bancorp, Inc. $BY

Wealth Enhancement Advisory Services LLC purchased a new stake in Byline Bancorp, Inc. (NYSE:BY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 16,385 shares of the company’s stock, valued at approximately $455,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in Byline Bancorp in the third quarter valued at $46,000. Farther Finance Advisors LLC grew its holdings in shares of Byline Bancorp by 26.7% during 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. CWM LLC increased its position in Byline Bancorp by 59.5% in the 2nd quarter. CWM LLC now owns 3,650 shares of the company’s stock valued at $98,000 after acquiring an additional 1,362 shares during the period. Tower Research Capital LLC TRC raised its stake in Byline Bancorp by 319.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,904 shares of the company’s stock valued at $104,000 after acquiring an additional 2,973 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in Byline Bancorp by 39.2% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 7,100 shares of the company’s stock worth $197,000 after acquiring an additional 2,000 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BY has been the topic of a number of recent research reports. Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price objective on shares of Byline Bancorp in a research note on Tuesday, January 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Byline Bancorp in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Byline Bancorp from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, October 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $33.67.

Byline Bancorp Stock Performance

Byline Bancorp stock opened at $33.49 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of 11.63 and a beta of 0.87. Byline Bancorp, Inc. has a one year low of $22.63 and a one year high of $33.89. The business has a fifty day moving average of $30.45 and a two-hundred day moving average of $28.57.

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

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

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Tuesday, February 3rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, February 3rd. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.10. Byline Bancorp’s payout ratio is 16.67%.

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.