New York State Common Retirement Fund Purchases 10,800 Shares of Byline Bancorp, Inc. (NYSE:BY)

Key Points

• The New York State Common Retirement Fund increased its stake in Byline Bancorp by 98.1% during the 1st quarter, owning a total of 21,809 shares, valued at $571,000, as per its latest SEC filing.
• Byline Bancorp reported earnings per share of $0.75 for the last quarter, exceeding the consensus estimate by $0.08, with revenue reaching $110.45 million.
• The company announced a quarterly dividend of $0.10 per share, yielding 1.48%, with the payment date set for August 19th.

New York State Common Retirement Fund lifted its holdings in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 98.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,809 shares of the company's stock after purchasing an additional 10,800 shares during the period. New York State Common Retirement Fund's holdings in Byline Bancorp were worth $571,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Byline Bancorp by 1,726.4% during the 1st 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 during the period. Tower Research Capital LLC TRC raised its position in Byline Bancorp by 88.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the company's stock valued at $60,000 after buying an additional 963 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Byline Bancorp in the 4th quarter worth about $148,000. ProShare Advisors LLC purchased a new stake in Byline Bancorp in the 4th quarter worth about $254,000. Finally, Harbor Capital Advisors Inc. boosted its position in Byline Bancorp by 44.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 9,304 shares of the company's stock worth $243,000 after acquiring an additional 2,874 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Byline Bancorp Stock Down 0.3%

Shares of Byline Bancorp stock traded down $0.07 on Friday, hitting $26.97. 392,701 shares of the company traded hands, compared to its average volume of 245,037. The company has a 50-day moving average price of $26.69 and a 200 day moving average price of $26.93. Byline Bancorp, Inc. has a 12-month low of $22.63 and a 12-month high of $32.89. The company has a market cap of $1.24 billion, a PE ratio of 9.71 and a beta of 0.84.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Byline Bancorp had a net margin of 19.03% and a return on equity of 11.19%. The business had revenue of $110.45 million for the quarter, compared to analysts' expectations of $106.95 million. Equities research analysts anticipate that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, August 5th. Byline Bancorp's dividend payout ratio (DPR) is presently 14.81%.

Analysts Set New Price Targets

Separately, Hovde Group set a $32.00 target price on Byline Bancorp in a report on Monday, May 19th.

Insider Buying and Selling

In other Byline Bancorp news, Director Phillip R. Cabrera bought 2,360 shares of Byline Bancorp stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $24.75 per share, for a total transaction of $58,410.00. Following the completion of the purchase, the director directly owned 3,960 shares of the company's stock, valued at $98,010. The trade was a 147.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Megan Biggam sold 3,611 shares of Byline Bancorp stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $26.75, for a total transaction of $96,594.25. Following the completion of the sale, the executive vice president owned 17,630 shares of the company's stock, valued at $471,602.50. This trade represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.79% of the stock is owned by insiders.

Byline Bancorp Company 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.