Byline Bancorp (NYSE:BY) Director Acquires $11,520.00 in Stock

Key Points

• Director Mary Jo Herseth purchased 300 Byline Bancorp shares at $38.40 each, investing $11,520 and increasing her direct ownership to 19,100 shares.
• Byline Bancorp reported quarterly earnings of $0.91 per share, exceeding the $0.79 analyst consensus, while revenue of $117.71 million also topped estimates.
• The company increased its quarterly dividend from $0.12 to $0.14 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $43.

Byline Bancorp, Inc. (NYSE:BY - Get Free Report) Director Mary Jo Herseth bought 300 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $38.40 per share, with a total value of $11,520.00. Following the acquisition, the director directly owned 19,100 shares of the company's stock, valued at approximately $733,440. The trade was a 1.60% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Byline Bancorp Stock Performance

Shares of BY traded up $0.15 during mid-day trading on Thursday, reaching $38.28. The company had a trading volume of 127,973 shares, compared to its average volume of 243,105. The company's 50 day simple moving average is $37.70 and its 200 day simple moving average is $34.29. Byline Bancorp, Inc. has a 1-year low of $25.57 and a 1-year high of $40.03. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.56 and a beta of 0.71.

Byline Bancorp (NYSE:BY - Get Free Report) last released its quarterly earnings data 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. The firm 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%. As a group, equities analysts forecast that Byline Bancorp, Inc. will post 3.35 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.14 per share. This is an increase from Byline Bancorp's previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, August 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. Byline Bancorp's dividend payout ratio (DPR) is presently 16.92%.

Institutional Trading of Byline Bancorp

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company's stock valued at $3,610,000 after purchasing an additional 35,324 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Byline Bancorp by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company's stock worth $484,000 after buying an additional 770 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Byline Bancorp by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company's stock worth $1,995,000 after buying an additional 5,213 shares during the last quarter. Jane Street Group LLC grew its position in Byline Bancorp by 71.0% during the first quarter. Jane Street Group LLC now owns 152,478 shares of the company's stock valued at $3,989,000 after buying an additional 63,317 shares during the period. Finally, Legal & General Group Plc grew its position in Byline Bancorp by 2.5% during the second quarter. Legal & General Group Plc now owns 29,577 shares of the company's stock valued at $791,000 after buying an additional 712 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BY has been the subject of several analyst reports. Zacks Research downgraded Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Hovde Group upped their price target on Byline Bancorp from $39.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Stephens set a $40.00 price target on Byline Bancorp in a research report on Monday, July 27th. Piper Sandler raised their price objective on Byline Bancorp from $40.00 to $46.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

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.

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