Federated Hermes Inc. Sells 36,781 Shares of Byline Bancorp, Inc. (NYSE:BY)

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. cut its stake in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 7.0% in the first quarter, according to its most recent 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 period. Federated Hermes Inc. owned 1.05% of Byline Bancorp worth $12,718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 1,830 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings 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 buying an additional 963 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Byline Bancorp during the fourth quarter worth about $148,000. Harbor Capital Advisors Inc. increased its stake in Byline Bancorp by 44.7% during the first 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 last quarter. Finally, ProShare Advisors LLC acquired a new position in Byline Bancorp during the 4th 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 target price on Byline Bancorp in a research note on Monday, May 19th.

Byline Bancorp Trading Up 0.7%

NYSE:BY traded up $0.17 on Tuesday, reaching $25.97. The stock had a trading volume of 49,707 shares, compared to its average volume of 189,012. The company has a 50-day moving average of $26.70 and a 200 day moving average of $26.87. Byline Bancorp, Inc. has a 12-month low of $22.63 and a 12-month high of $32.89. The stock has a market cap of $1.20 billion, a P/E ratio of 9.68 and a beta of 0.86.

Byline Bancorp (NYSE:BY - Get Free Report) last released its quarterly 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 business 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 11.19%. On average, equities analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, August 5th. Byline Bancorp's dividend payout ratio is currently 14.93%.

Insider Transactions at Byline Bancorp

In other news, Director Phillip R. Cabrera purchased 2,360 shares of Byline Bancorp stock in a transaction dated Wednesday, June 11th. The shares were bought at an average cost 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Megan Biggam sold 3,611 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $26.75, for a total transaction of $96,594.25. Following the sale, the executive vice president directly owned 17,630 shares of the company's stock, valued at approximately $471,602.50. This trade represents a 17.00% 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 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.