Denali Advisors LLC Raises Holdings in Byline Bancorp, Inc. $BY

Key Points

• Denali Advisors LLC increased its stake in Byline Bancorp by 32.3% in the fourth quarter, buying 30,711 additional shares and bringing its total holdings to 125,752 shares worth about $3.67 million.
• Other institutional investors also added to their positions, and 67.73% of Byline Bancorp stock is now held by hedge funds and other institutions. Analysts currently have a consensus rating of Moderate Buy with a target price of $34.67.
• Byline Bancorp reported better-than-expected quarterly earnings of $0.83 per share, and the company also announced a quarterly dividend of $0.12 per share, payable May 19, for an annual yield of 1.4%.

Denali Advisors LLC raised its holdings in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 32.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 125,752 shares of the company's stock after purchasing an additional 30,711 shares during the period. Denali Advisors LLC owned approximately 0.27% of Byline Bancorp worth $3,666,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in Byline Bancorp by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,322,339 shares of the company's stock valued at $64,399,000 after purchasing an additional 24,507 shares during the last quarter. Vanguard Group Inc. boosted its stake in Byline Bancorp by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,822,619 shares of the company's stock valued at $53,129,000 after purchasing an additional 47,798 shares during the last quarter. American Century Companies Inc. boosted its stake in Byline Bancorp by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 803,287 shares of the company's stock valued at $22,275,000 after purchasing an additional 68,230 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Byline Bancorp by 31.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company's stock valued at $16,315,000 after purchasing an additional 140,219 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Byline Bancorp by 0.7% during the 3rd quarter. Federated Hermes Inc. now owns 491,510 shares of the company's stock valued at $13,630,000 after purchasing an additional 3,273 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on BY. Zacks Research cut shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Friday, March 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of Byline Bancorp in a report on Wednesday, January 21st. Finally, Piper Sandler lifted their price objective on Byline Bancorp from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Byline Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $34.67.

Byline Bancorp Price Performance

Shares of BY stock opened at $33.11 on Friday. Byline Bancorp, Inc. has a 1 year low of $24.75 and a 1 year high of $34.33. The stock's 50 day simple moving average is $32.00 and its two-hundred day simple moving average is $30.51. The company has a market cap of $1.50 billion, a PE ratio of 10.78 and a beta of 0.75.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.09. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%.The business had revenue of $112.40 million for the quarter, compared to the consensus estimate of $113.89 million. Equities research analysts expect that Byline Bancorp, Inc. will post 3.28 EPS for the current year.

Byline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. Byline Bancorp's dividend payout ratio is currently 15.64%.

Byline Bancorp Profile

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.

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