Byline Bancorp, Inc. (NYSE:BY) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in Byline Bancorp by 7.0%, selling 36,781 shares, and now holds 1.05% of the company valued at approximately $12.7 million.
• Byline Bancorp announced a quarterly dividend of $0.10 per share, with the payment date set for August 19th, reflecting an annualized dividend yield of 1.6%.
• The company reported better-than-expected earnings for the last quarter, with an EPS of $0.75, surpassing estimates of $0.67, along with revenues of $110.45 million.

Federated Hermes Inc. lowered its stake in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,153 shares of the company's stock after selling 36,781 shares during the quarter. Federated Hermes Inc. owned about 1.05% of Byline Bancorp worth $12,718,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings 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 worth $51,000 after purchasing an additional 1,830 shares during the last quarter. Tower Research Capital LLC TRC raised its stake 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 valued at $60,000 after buying an additional 963 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Byline Bancorp in the 4th quarter valued at about $148,000. Harbor Capital Advisors Inc. lifted its holdings 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 buying an additional 2,874 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in shares of Byline Bancorp in the fourth quarter worth about $254,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

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

Insider Activity at Byline Bancorp

In related news, Director Phillip R. Cabrera purchased 2,360 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average price 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 $98,010. The trade was a 147.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Megan Biggam sold 8,576 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $26.75, for a total transaction of $229,408.00. Following the transaction, the executive vice president owned 17,630 shares of the company's stock, valued at approximately $471,602.50. This trade represents a 32.73% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 28.79% of the company's stock.

Byline Bancorp Stock Performance

BY stock opened at $25.63 on Friday. Byline Bancorp, Inc. has a one year low of $22.63 and a one year high of $32.89. The firm's fifty day moving average is $26.70 and its 200 day moving average is $26.90. The firm has a market cap of $1.18 billion, a PE ratio of 9.56 and a beta of 0.86.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.75 earnings per share (EPS) 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 11.19%. The business had revenue of $110.45 million for the quarter, compared to analyst estimates of $106.95 million. Research analysts predict that Byline Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 5th. Byline Bancorp's dividend payout ratio is presently 14.93%.

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.

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