Cubist Systematic Strategies LLC Raises Stock Holdings in Byline Bancorp, Inc. $BY

Key Points

• Cubist Systematic Strategies LLC increased its stake in Byline Bancorp by 179.0% during the first quarter, owning 43,179 shares valued at approximately $1.13 million.
• Byline Bancorp reported strong earnings, with an EPS of $0.75, exceeding analysts' expectations of $0.67, and revenue of $110.45 million, surpassing projections of $106.95 million.
• The company announced a quarterly dividend of $0.10 per share, representing a 1.4% yield and a dividend payout ratio of 14.93%.

Cubist Systematic Strategies LLC lifted its holdings in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 179.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,179 shares of the company's stock after buying an additional 27,704 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.09% of Byline Bancorp worth $1,130,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BY. GAMMA Investing LLC raised its holdings 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 worth $51,000 after purchasing an additional 1,830 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Byline Bancorp by 88.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the company's stock valued at $60,000 after purchasing an additional 963 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Byline Bancorp by 44.7% during the first 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. ProShare Advisors LLC purchased a new stake in shares of Byline Bancorp in the fourth quarter worth about $254,000. Finally, XTX Topco Ltd bought a new position in shares of Byline Bancorp in the first quarter valued at approximately $310,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Byline Bancorp Stock Up 0.3%

Shares of NYSE BY traded up $0.08 during midday trading on Friday, reaching $29.07. The company had a trading volume of 204,422 shares, compared to its average volume of 173,673. The firm's fifty day moving average price is $27.78 and its 200-day moving average price is $26.64. Byline Bancorp, Inc. has a one year low of $22.63 and a one year high of $32.89. The stock has a market cap of $1.33 billion, a PE ratio of 10.85 and a beta of 0.91.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $110.45 million for the quarter, compared to the consensus estimate of $106.95 million. Byline Bancorp had a net margin of 19.03% and a return on equity of 10.98%. As a group, equities research analysts expect that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

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

About Byline Bancorp

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.