Byline Bancorp, Inc. $BY Position Reduced by Susquehanna International Group LLP

Key Points

• Susquehanna International Group cut its Byline Bancorp position by 64% in the second quarter, leaving it with 18,081 shares valued at approximately $681,000. Institutional investors collectively own 67.73% of the company.
• Analysts maintain a cautiously positive outlook, with three Buy and three Hold ratings producing a consensus “Moderate Buy” rating and a $43 price target. Byline Bancorp recently exceeded quarterly EPS and revenue estimates.
• Byline Bancorp raised its quarterly dividend from $0.12 to $0.14 per share, representing a 1.5% yield. Meanwhile, insiders sold 622,171 shares worth roughly $24.3 million during the last quarter.

Susquehanna International Group LLP trimmed its position in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 64.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,081 shares of the company's stock after selling 32,135 shares during the period. Susquehanna International Group LLP's holdings in Byline Bancorp were worth $681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in shares of Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company's stock worth $69,000 after buying an additional 313 shares in the last quarter. New York State Teachers Retirement System raised its position in Byline Bancorp by 16.1% in the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company's stock worth $83,000 after acquiring an additional 398 shares in the last quarter. Invesco Ltd. raised its position in Byline Bancorp by 1.2% in the fourth quarter. Invesco Ltd. now owns 51,138 shares of the company's stock worth $1,491,000 after acquiring an additional 586 shares in the last quarter. Strs Ohio lifted its holdings in Byline Bancorp by 5.4% in the 4th quarter. Strs Ohio now owns 11,700 shares of the company's stock valued at $341,000 after acquiring an additional 600 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Byline Bancorp by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 29,577 shares of the company's stock valued at $791,000 after acquiring an additional 712 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Byline Bancorp from $37.00 to $41.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Byline Bancorp in a research report on Friday, August 7th. Raymond James Financial began coverage on Byline Bancorp in a research report on Wednesday, July 8th. They set a "market perform" rating for the company. Hovde Group boosted their price objective on Byline Bancorp from $39.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Finally, Stephens set a $40.00 price target on shares of Byline Bancorp in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Insider Buying and Selling

In related news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $39.10, for a total value of $11,730,000.00. Following the sale, the insider owned 11,535,145 shares of the company's stock, valued at $451,024,169.50. The trade was a 2.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Valle Perochena Antonio Del sold 300,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $39.10, for a total value of $11,730,000.00. Following the completion of the sale, the director owned 11,535,145 shares in the company, valued at $451,024,169.50. This trade represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 622,171 shares of company stock worth $24,328,816 in the last quarter. Corporate insiders own 29.09% of the company's stock.

Byline Bancorp Stock Performance

Shares of Byline Bancorp stock opened at $37.94 on Tuesday. The firm has a market cap of $1.71 billion, a P/E ratio of 11.46 and a beta of 0.71. The firm's 50-day simple moving average is $38.19 and its 200-day simple moving average is $34.59. Byline Bancorp, Inc. has a twelve month low of $25.57 and a twelve month high of $40.03.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.12. The firm had revenue of $117.71 million during 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, 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 announced a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th were given a dividend of $0.14 per share. This is a boost from Byline Bancorp's previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, August 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. Byline Bancorp's dividend payout ratio is 16.92%.

Byline Bancorp Profile

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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