Sequoia Financial Advisors LLC Makes New $627,000 Investment in Byline Bancorp, Inc. $BY

Sequoia Financial Advisors LLC purchased a new position in shares of Byline Bancorp, Inc. (NYSE:BY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 16,654 shares of the company’s stock, valued at approximately $627,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Byline Bancorp in the second quarter valued at approximately $132,220,000. Dimensional Fund Advisors LP boosted its holdings in Byline Bancorp by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,366,600 shares of the company’s stock valued at $74,713,000 after acquiring an additional 36,598 shares during the period. Empowered Funds LLC bought a new stake in Byline Bancorp during the second quarter valued at about $8,031,000. Maltese Capital Management LLC lifted its position in shares of Byline Bancorp by 23.3% during the 4th quarter. Maltese Capital Management LLC now owns 265,000 shares of the company’s stock worth $7,725,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Byline Bancorp during the 1st quarter valued at approximately $7,176,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Byline Bancorp Stock Performance

Shares of BY stock opened at $37.53 on Friday. The firm has a fifty day moving average of $38.47 and a 200-day moving average of $35.13. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 11.34 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 the consensus estimate of $0.79 by $0.12. The business had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. On average, sell-side analysts predict that Byline Bancorp, Inc. will post 3.35 earnings per share for the current year.

Byline Bancorp Increases Dividend

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

Analyst Ratings Changes

Several brokerages have commented on BY. Raymond James Financial assumed coverage on Byline Bancorp in a research report on Wednesday, July 8th. They issued a “market perform” rating on the stock. Stephens set a $40.00 price objective on Byline Bancorp in a research report on Monday, July 27th. Hovde Group upped their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Zacks Research lowered shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling

In other Byline Bancorp news, insider Dana Rose sold 2,421 shares of Byline Bancorp stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $39.00, for a total transaction of $94,419.00. Following the completion of the transaction, the insider directly owned 11,605 shares of the company’s stock, valued at approximately $452,595. This trade represents a 17.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Antonio del Valle Perochena sold 300,000 shares of the company’s 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 completion of the sale, the director directly owned 11,535,145 shares in the company, valued at approximately $451,024,169.50. The trade was a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 622,171 shares of company stock worth $24,328,816 over the last 90 days. Corporate insiders own 29.09% of the company’s stock.

Byline Bancorp Company Profile

Byline Bancorp, Inc is the parent company of Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. The bank provides banking and financial services to small and medium-sized businesses, professionals, and individuals, with a focus on building long-term relationships in the communities it serves.

Byline Bank offers business and personal deposit accounts, commercial and industrial loans, commercial real estate financing, small business lending, residential and consumer loans, treasury management, and other cash-management services.