Hsbc Holdings PLC Has $2.06 Million Position in Byline Bancorp, Inc. $BY

Key Points

• HSBC Holdings PLC boosted its stake in Byline Bancorp by 135.9% in the fourth quarter, ending with 70,502 shares valued at about $2.06 million.
• Several other institutional investors also increased their positions, and 67.73% of Byline Bancorp’s stock is now held by institutions and hedge funds.
• Byline Bancorp reported strong quarterly results, with EPS of $0.83 beating estimates, and it also paid a quarterly dividend of $0.12 per share for a 1.3% annualized yield.

Hsbc Holdings PLC grew its holdings in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 135.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,502 shares of the company's stock after buying an additional 40,613 shares during the quarter. Hsbc Holdings PLC owned approximately 0.15% of Byline Bancorp worth $2,056,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Byline Bancorp by 31.3% during the third quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company's stock worth $16,315,000 after acquiring an additional 140,219 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Byline Bancorp by 56.2% in the third quarter. Qube Research & Technologies Ltd now owns 358,536 shares of the company's stock valued at $9,942,000 after purchasing an additional 129,032 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Byline Bancorp by 64.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 276,181 shares of the company's stock worth $8,051,000 after purchasing an additional 108,492 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Byline Bancorp by 16.7% during the 4th quarter. Federated Hermes Inc. now owns 573,652 shares of the company's stock worth $16,722,000 after purchasing an additional 82,142 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Byline Bancorp by 129.4% during the 3rd quarter. UBS Group AG now owns 141,067 shares of the company's stock worth $3,912,000 after purchasing an additional 79,586 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BY shares. Piper Sandler increased their price objective on Byline Bancorp from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Zacks Research upgraded shares of Byline Bancorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 23rd. Raymond James Financial assumed coverage on shares of Byline Bancorp in a research report on Wednesday. They set a "market perform" rating on the stock. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

Byline Bancorp Stock Up 0.2%

Shares of NYSE BY traded up $0.08 during midday trading on Friday, hitting $37.23. 191,696 shares of the company's stock were exchanged, compared to its average volume of 365,799. Byline Bancorp, Inc. has a 12 month low of $25.38 and a 12 month high of $38.83. The company's 50 day moving average price is $34.56 and its 200 day moving average price is $32.61. The firm has a market capitalization of $1.69 billion, a PE ratio of 12.13 and a beta of 0.72.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share 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 analysts' expectations of $113.89 million. On average, equities research analysts anticipate that Byline Bancorp, Inc. will post 3.29 EPS for the current year.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.3%. Byline Bancorp's dividend payout ratio is presently 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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