Bridgeway Capital Management LLC Cuts Stock Holdings in Byline Bancorp, Inc. $BY

Key Points

• Bridgeway Capital Management LLC reduced its stake in Byline Bancorp by 7.9%, selling 41,101 shares and now owns 481,648 shares valued at approximately $12.6 million.
• Consensus analyst rating for Byline Bancorp is a "Moderate Buy" with a target price of $33.25, following a strong earnings report that beat estimates.
• Byline Bancorp recently declared a quarterly dividend of $0.10 per share, representing an annualized yield of 1.4% with a payout ratio of 14.93%.

Bridgeway Capital Management LLC lowered its position in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 481,648 shares of the company's stock after selling 41,101 shares during the quarter. Bridgeway Capital Management LLC owned about 1.04% of Byline Bancorp worth $12,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Byline Bancorp by 1,726.4% in the first quarter. GAMMA Investing LLC now owns 1,936 shares of the company's stock worth $51,000 after purchasing an additional 1,830 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Byline Bancorp by 88.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the company's stock worth $60,000 after buying an additional 963 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Byline Bancorp by 44.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 9,304 shares of the company's stock valued at $243,000 after acquiring an additional 2,874 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of Byline Bancorp in the 4th quarter valued at $254,000. Finally, XTX Topco Ltd acquired a new position in shares of Byline Bancorp during the 1st quarter valued at $310,000. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Separately, Hovde Group set a $32.00 price target on shares of Byline Bancorp in a report on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Byline Bancorp Trading Down 1.5%

Shares of BY traded down $0.46 during trading hours on Tuesday, reaching $28.99. The stock had a trading volume of 55,805 shares, compared to its average volume of 189,397. The firm has a 50-day simple moving average of $27.71 and a 200 day simple moving average of $26.62. Byline Bancorp, Inc. has a 12 month low of $22.63 and a 12 month high of $32.89. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 10.81 and a beta of 0.91.

Byline Bancorp (NYSE:BY - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Byline Bancorp had a net margin of 19.03% and a return on equity of 10.98%. The firm had revenue of $110.45 million for the quarter, compared to the consensus estimate of $106.95 million. On average, equities analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.40 annualized dividend and a yield of 1.4%. Byline Bancorp's dividend payout ratio (DPR) is presently 14.93%.

Insiders Place Their Bets

In related news, Director Phillip R. Cabrera purchased 2,360 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was acquired at an average price of $24.75 per share, for a total transaction of $58,410.00. Following the purchase, the director owned 3,960 shares of the company's stock, valued at approximately $98,010. This trade represents a 147.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 2,584 shares of company stock valued at $64,100. 28.79% of the stock is currently owned by company insiders.

Byline Bancorp Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.