Deutsche Bank AG Buys New Shares in Byline Bancorp, Inc. $BY

Key Points

• Deutsche Bank bought 29,858 Byline Bancorp shares worth approximately $1.12 million, joining other institutions that increased their positions; institutional investors own 67.73% of the stock.
• Byline Bancorp exceeded quarterly earnings expectations, reporting $0.91 in EPS versus a $0.79 estimate and $117.71 million in revenue. The company also raised its quarterly dividend to $0.14 per share, yielding about 1.5%.
• The stock traded near its 52-week high at $38.38, while analysts maintained a “Moderate Buy” consensus with an average price target of $43.00. However, insiders sold more than 622,000 shares worth $24.3 million during the latest quarter.

Deutsche Bank AG purchased a new position in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 29,858 shares of the company's stock, valued at approximately $1,124,000. Deutsche Bank AG owned 0.07% of Byline Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Clearstead Advisors LLC increased its holdings in Byline Bancorp by 83.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,578 shares of the company's stock worth $46,000 after purchasing an additional 716 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company's stock valued at $69,000 after acquiring an additional 313 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Byline Bancorp by 58.3% during the 1st quarter. Royal Bank of Canada now owns 2,332 shares of the company's stock valued at $73,000 after acquiring an additional 859 shares during the period. Russell Investments Group Ltd. boosted its stake in Byline Bancorp by 1,572.5% during the third quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company's stock worth $79,000 after acquiring an additional 2,689 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Byline Bancorp by 16.1% in the fourth quarter. New York State Teachers Retirement System now owns 2,864 shares of the company's stock valued at $83,000 after purchasing an additional 398 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Byline Bancorp

In related news, CEO Roberto R. Herencia sold 19,750 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $39.21, for a total transaction of $774,397.50. Following the sale, the chief executive officer owned 411,643 shares of the company's stock, valued at approximately $16,140,522.03. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dana Rose sold 2,421 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $39.00, for a total value of $94,419.00. Following the completion of the transaction, the insider owned 11,605 shares of the company's stock, valued at approximately $452,595. This represents a 17.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 622,171 shares of company stock valued at $24,328,816 in the last quarter. Corporate insiders own 29.09% of the company's stock.

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $38.38 on Monday. The company has a market capitalization of $1.73 billion, a P/E ratio of 11.60 and a beta of 0.71. The company's 50-day moving average is $38.14 and its 200 day moving average is $34.55. Byline Bancorp, Inc. has a fifty-two week low of $25.57 and a fifty-two week high of $40.03.

Byline Bancorp (NYSE:BY - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. The business had revenue of $117.71 million for the quarter, compared to analyst estimates of $115.78 million. As a group, research analysts predict that Byline Bancorp, Inc. will post 3.35 earnings per share for the current year.

Byline Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 4th. This is a positive change from Byline Bancorp's previous quarterly dividend of $0.12. Byline Bancorp's dividend payout ratio is currently 16.92%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research downgraded Byline Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their target price on Byline Bancorp from $37.00 to $41.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Byline Bancorp in a research report on Friday, August 7th. Hovde Group raised their price objective on shares of Byline Bancorp from $39.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Finally, Stephens set a $40.00 target price on shares of Byline Bancorp in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Byline Bancorp Company 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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