Bridgeway Capital Management LLC Sells 41,101 Shares of 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 cut its holdings in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 481,648 shares of the company's stock after selling 41,101 shares during the period. Bridgeway Capital Management LLC owned 1.04% of Byline Bancorp worth $12,600,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Byline Bancorp by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,721 shares of the company's stock worth $514,000 after buying an additional 620 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Byline Bancorp by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 22,758 shares of the company's stock valued at $595,000 after acquiring an additional 740 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Byline Bancorp by 88.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the company's stock worth $60,000 after purchasing an additional 963 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Byline Bancorp by 1.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 118,978 shares of the company's stock valued at $3,450,000 after purchasing an additional 1,198 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Byline Bancorp by 1,726.4% during the first quarter. GAMMA Investing LLC now owns 1,936 shares of the company's stock valued at $51,000 after purchasing an additional 1,830 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Hovde Group set a $32.00 price target on Byline Bancorp in a research note on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Byline Bancorp has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Byline Bancorp Price Performance

Shares of NYSE BY opened at $28.74 on Thursday. The stock has a market capitalization of $1.32 billion, a P/E ratio of 10.72 and a beta of 0.91. Byline Bancorp, Inc. has a 1-year low of $22.63 and a 1-year high of $32.89. The business's 50 day moving average is $27.56 and its two-hundred day moving average is $26.65.

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

Byline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. Byline Bancorp's payout ratio is currently 14.93%.

Insider Activity

In other Byline Bancorp news, Director Phillip R. Cabrera purchased 2,360 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average cost of $24.75 per share, with a total value of $58,410.00. Following the purchase, the director owned 3,960 shares of the company's stock, valued at approximately $98,010. The trade was a 147.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Megan Biggam sold 8,576 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $26.75, for a total value of $229,408.00. Following the completion of the sale, the executive vice president owned 17,630 shares in the company, valued at approximately $471,602.50. The trade was a 32.73% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 2,584 shares of company stock worth $64,100 over the last quarter. 28.79% of the stock is currently owned by insiders.

About Byline Bancorp

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.

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