Dimensional Fund Advisors LP Acquires 36,598 Shares of Byline Bancorp, Inc. $BY

Key Points

• Dimensional Fund Advisors increased its Byline Bancorp holdings by 1.6% in the first quarter, acquiring 36,598 shares and bringing its position to 2.37 million shares worth approximately $74.7 million. Institutional investors collectively own 67.73% of the company.
• Byline Bancorp reported quarterly EPS of $0.91, beating analyst expectations of $0.79, while revenue reached $117.71 million. The stock opened at $39.27, near its 52-week high of $39.51.
• The company raised its quarterly dividend from $0.12 to $0.14 per share, implying an annualized yield of 1.4%. Analysts maintain a “Moderate Buy” consensus with an average price target of $43.00.

Dimensional Fund Advisors LP boosted its holdings in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,366,600 shares of the company's stock after acquiring an additional 36,598 shares during the quarter. Dimensional Fund Advisors LP owned 5.21% of Byline Bancorp worth $74,713,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BY. Vanguard Group Inc. lifted its position in shares of Byline Bancorp by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,822,619 shares of the company's stock worth $53,129,000 after purchasing an additional 47,798 shares during the last quarter. State Street Corp grew its holdings in shares of Byline Bancorp by 0.9% in the fourth quarter. State Street Corp now owns 997,040 shares of the company's stock worth $29,064,000 after purchasing an additional 8,994 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Byline Bancorp by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 764,144 shares of the company's stock worth $22,278,000 after purchasing an additional 13,810 shares during the last quarter. Federated Hermes Inc. increased its stake in Byline Bancorp by 16.7% in the 4th quarter. Federated Hermes Inc. now owns 573,652 shares of the company's stock worth $16,722,000 after buying an additional 82,142 shares during the period. Finally, AQR Capital Management LLC increased its stake in Byline Bancorp by 5.0% in the 4th quarter. AQR Capital Management LLC now owns 504,943 shares of the company's stock worth $14,719,000 after buying an additional 23,990 shares during the period. Institutional investors own 67.73% of the company's stock.

Byline Bancorp Price Performance

BY stock opened at $39.27 on Friday. Byline Bancorp, Inc. has a 1-year low of $25.38 and a 1-year high of $39.51. The business has a 50-day moving average price of $36.24 and a 200 day moving average price of $33.52. The company has a market capitalization of $1.78 billion, a P/E ratio of 11.86 and a beta of 0.72.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.91 earnings per share (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 11.94%. The company had revenue of $117.71 million for the quarter, compared to analysts' expectations of $115.78 million. On average, analysts anticipate that Byline Bancorp, Inc. will post 3.32 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.14 per share. This is a boost from Byline Bancorp's previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 4th. Byline Bancorp's payout ratio is 14.50%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BY. Piper Sandler boosted their price objective on shares of Byline Bancorp from $40.00 to $46.00 and gave the company an "overweight" rating in a research report on Tuesday. Hovde Group raised their target price on shares of Byline Bancorp from $39.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Raymond James Financial initiated coverage on shares of Byline Bancorp in a research note on Wednesday, July 8th. They set a "market perform" rating for the company. Zacks Research lowered Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Stephens set a $40.00 price target on Byline Bancorp in a report on Monday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Byline Bancorp has a consensus rating of "Moderate Buy" and an average target price of $43.00.

About Byline Bancorp

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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