PDT Partners LLC Takes Position in Byline Bancorp, Inc. $BY

PDT Partners LLC bought a new stake in Byline Bancorp, Inc. (NYSE:BY) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 27,315 shares of the company’s stock, valued at approximately $1,029,000. PDT Partners LLC owned approximately 0.06% of Byline Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Byline Bancorp during the second quarter valued at $132,220,000. Dimensional Fund Advisors LP increased its holdings in shares of Byline Bancorp by 1.6% in 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. Vanguard Group Inc. increased its holdings in shares of Byline Bancorp by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,822,619 shares of the company’s stock worth $53,129,000 after buying an additional 47,798 shares during the last quarter. State Street Corp raised its position in shares of Byline Bancorp by 0.9% during the 4th quarter. State Street Corp now owns 997,040 shares of the company’s stock valued at $29,064,000 after buying an additional 8,994 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Byline Bancorp by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 764,144 shares of the company’s stock valued at $22,278,000 after buying an additional 13,810 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BY shares. Zacks Research lowered Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Hovde Group raised their price objective on Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Stephens set a $40.00 target price on Byline Bancorp in a research report on Monday, July 27th. Keefe, Bruyette & Woods increased their price target on Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Byline Bancorp Stock Up 0.3%

Shares of NYSE:BY opened at $38.22 on Thursday. The business’s 50 day moving average is $38.02 and its 200 day moving average is $34.49. The stock has a market cap of $1.73 billion, a P/E ratio of 11.55 and a beta of 0.71. Byline Bancorp, Inc. has a 52-week low of $25.57 and a 52-week high of $40.03.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.The business had revenue of $117.71 million during the quarter, compared to analyst estimates of $115.78 million. On average, sell-side analysts anticipate that Byline Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

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

Insider Transactions at Byline Bancorp

In related news, insider Dana Rose sold 2,421 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total value of $94,419.00. Following the completion of the sale, the insider directly owned 11,605 shares of the company’s stock, valued at $452,595. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the transaction, the insider owned 11,535,145 shares in the company, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 622,171 shares of company stock valued at $24,328,816. Insiders own 29.09% of the company’s stock.

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.