Byline Bancorp, Inc. $BY Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its holdings in Byline Bancorp by 32.4%, now owning 19,196 shares valued at approximately $502,000.
• Institutional investors now hold 67.73% of Byline Bancorp's stock, with significant increases in holdings from firms like GAMMA Investing LLC and Tower Research Capital LLC.
• Byline Bancorp recently announced a quarterly dividend of $0.10, yielding 1.4% annually, with a payout ratio of 14.93%.

Rafferty Asset Management LLC trimmed its holdings in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 32.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,196 shares of the company's stock after selling 9,191 shares during the period. Rafferty Asset Management LLC's holdings in Byline Bancorp were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Byline Bancorp by 1,726.4% in the 1st quarter. GAMMA Investing LLC now owns 1,936 shares of the company's stock valued at $51,000 after acquiring an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC grew 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 valued at $60,000 after acquiring an additional 963 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in 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 during the last quarter. ProShare Advisors LLC acquired a new stake in Byline Bancorp in the 4th quarter valued at about $254,000. Finally, XTX Topco Ltd acquired a new stake in Byline Bancorp in the 1st quarter valued at about $310,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Byline Bancorp

In other news, EVP Megan Biggam sold 8,576 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $26.75, for a total transaction of $229,408.00. Following the transaction, the executive vice president directly owned 17,630 shares in the company, valued at $471,602.50. This represents a 32.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Phillip R. Cabrera acquired 2,360 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $24.75 per share, for a total transaction of $58,410.00. Following the completion of the acquisition, the director owned 3,960 shares in the company, valued at approximately $98,010. This trade represents a 147.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,584 shares of company stock worth $64,100. 28.79% of the stock is owned by insiders.

Byline Bancorp Trading Down 0.2%

NYSE:BY opened at $28.84 on Wednesday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 10.76 and a beta of 0.91. The company's 50-day moving average is $27.50 and its two-hundred day moving average is $26.63. Byline Bancorp, Inc. has a 12-month low of $22.63 and a 12-month high of $32.89.

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

Byline Bancorp Dividend Announcement

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

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.

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