Hsbc Holdings PLC Has $2.06 Million Stake in Byline Bancorp, Inc. $BY

Hsbc Holdings PLC grew its holdings in Byline Bancorp, Inc. (NYSE:BY) by 135.9% in the 4th quarter, Holdings Channel reports. The fund owned 70,502 shares of the company’s stock after purchasing an additional 40,613 shares during the quarter. Hsbc Holdings PLC’s holdings in Byline Bancorp were worth $2,056,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Byline Bancorp by 99.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock valued at $30,000 after purchasing an additional 546 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Byline Bancorp by 83.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock worth $46,000 after buying an additional 716 shares during the period. Parkside Financial Bank & Trust raised its holdings in Byline Bancorp by 15.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock worth $69,000 after buying an additional 313 shares during the period. Russell Investments Group Ltd. lifted its stake in Byline Bancorp by 1,572.5% in the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock valued at $79,000 after buying an additional 2,689 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Byline Bancorp by 16.1% in the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock valued at $83,000 after buying an additional 398 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $37.60 on Tuesday. Byline Bancorp, Inc. has a 52-week low of $25.38 and a 52-week high of $37.71. The company has a market capitalization of $1.71 billion, a P/E ratio of 12.25 and a beta of 0.75. The company has a 50-day simple moving average of $33.79 and a 200 day simple moving average of $32.20.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $112.40 million during the quarter, compared to analysts’ expectations of $113.89 million. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%. As a group, equities analysts forecast that Byline Bancorp, Inc. will post 3.28 earnings per share for the current year.

Byline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, May 5th. Byline Bancorp’s payout ratio is currently 15.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Byline Bancorp in a research report on Wednesday, May 13th. Piper Sandler upped their target price on Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Zacks Research raised Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $36.00.

Byline Bancorp 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.