Cubist Systematic Strategies LLC Acquires 27,704 Shares of 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 boosted its stake in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 179.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,179 shares of the company's stock after acquiring an additional 27,704 shares during the period. Cubist Systematic Strategies LLC owned 0.09% of Byline Bancorp worth $1,130,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BY. GAMMA Investing LLC grew its stake in shares of Byline Bancorp by 1,726.4% during the 1st quarter. GAMMA Investing LLC now owns 1,936 shares of the company's stock worth $51,000 after acquiring an additional 1,830 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 963 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Byline Bancorp by 44.7% in the first quarter. Harbor Capital Advisors Inc. now owns 9,304 shares of the company's stock worth $243,000 after buying an additional 2,874 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Byline Bancorp during the fourth quarter worth about $254,000. Finally, XTX Topco Ltd bought a new stake in shares of Byline Bancorp in the 1st quarter valued at approximately $310,000. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Hovde Group set a $32.00 price target 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Byline Bancorp Price Performance

Byline Bancorp stock traded up $0.03 during trading hours on Friday, hitting $29.02. The stock had a trading volume of 69,461 shares, compared to its average volume of 188,796. The stock's fifty day moving average is $27.77 and its two-hundred day moving average is $26.65. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 10.83 and a beta of 0.91. Byline Bancorp, Inc. has a 1-year low of $22.63 and a 1-year high of $32.89.

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

Byline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders 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 dividend yield of 1.4%. Byline Bancorp's dividend payout ratio is currently 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.