Hsbc Holdings PLC Invests $1.01 Million in Byline Bancorp, Inc. $BY

Key Points

• Hsbc Holdings PLC purchased a new stake in Byline Bancorp during the second quarter, acquiring 26,758 shares valued at approximately $1.01 million, or about 0.06% of the company.
• Institutional investors own 67.73% of Byline Bancorp, while insiders sold 622,171 shares worth $24.3 million over the past 90 days. Two major shareholders each sold 300,000 shares at an average price of $39.10.
• Byline Bancorp reported quarterly EPS of $0.91, beating estimates of $0.79, and raised its quarterly dividend to $0.14. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $43, compared with its reported price of $37.66.

Hsbc Holdings PLC purchased a new stake in Byline Bancorp, Inc. (NYSE:BY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,758 shares of the company's stock, valued at approximately $1,007,000. Hsbc Holdings PLC owned about 0.06% of Byline Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in 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 during the period. New York State Teachers Retirement System grew its stake in shares of Byline Bancorp by 16.1% in the 4th 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 during the last quarter. Invesco Ltd. increased its holdings in shares of Byline Bancorp by 1.2% in the fourth quarter. Invesco Ltd. now owns 51,138 shares of the company's stock valued at $1,491,000 after purchasing an additional 586 shares during the period. Strs Ohio increased its holdings in shares of Byline Bancorp by 5.4% in the fourth quarter. Strs Ohio now owns 11,700 shares of the company's stock valued at $341,000 after purchasing an additional 600 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Byline Bancorp by 2.5% during the second quarter. Legal & General Group Plc now owns 29,577 shares of the company's stock worth $791,000 after purchasing an additional 712 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Investors I. L.P. Mbg sold 300,000 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $39.10, for a total value of $11,730,000.00. Following the sale, the insider directly owned 11,535,145 shares in the company, valued at $451,024,169.50. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Valle Perochena Antonio Del sold 300,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.10, for a total transaction of $11,730,000.00. Following the completion of the transaction, the director directly owned 11,535,145 shares of the company's stock, valued at $451,024,169.50. The trade was a 2.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 622,171 shares of company stock worth $24,328,816 in the last 90 days. Corporate insiders own 29.09% of the company's stock.

Byline Bancorp Price Performance

BY opened at $37.66 on Wednesday. The stock's 50 day simple moving average is $38.22 and its 200 day simple moving average is $34.62. The stock has a market cap of $1.70 billion, a P/E ratio of 11.38 and a beta of 0.71. Byline Bancorp, Inc. has a 1-year low of $25.57 and a 1-year high of $40.03.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. Byline Bancorp had a return on equity of 11.84% and a net margin of 23.36%.The company had revenue of $117.71 million for the quarter, compared to the consensus estimate of $115.78 million. Research analysts expect that Byline Bancorp, Inc. will post 3.35 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BY shares. Weiss Ratings reissued a "buy (b)" rating on shares of Byline Bancorp in a research note on Friday, August 7th. Zacks Research downgraded shares of Byline Bancorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Piper Sandler increased their price target on shares of Byline Bancorp from $40.00 to $46.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on Byline Bancorp from $37.00 to $41.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Finally, Hovde Group upped their price objective on Byline Bancorp from $39.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

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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