Nuveen LLC Makes New Investment in Byline Bancorp, Inc. $BY

Key Points

• Nuveen LLC acquired a new stake in Byline Bancorp, purchasing 261,776 shares valued at approximately $6.85 million, representing about 0.57% ownership of the company.
• Byline Bancorp posted a quarterly earnings report with $0.75 earnings per share, exceeding analyst estimates by $0.08, alongside a net revenue of $110.45 million.
• The company recently declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 1.4%, with a payout ratio of 14.93%.

Nuveen LLC bought a new position in Byline Bancorp, Inc. (NYSE:BY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 261,776 shares of the company's stock, valued at approximately $6,848,000. Nuveen LLC owned about 0.57% of Byline Bancorp as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Byline Bancorp in the 1st quarter worth approximately $310,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Byline Bancorp by 25.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,032 shares of the company's stock worth $2,060,000 after buying an additional 14,307 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Byline Bancorp by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 325,516 shares of the company's stock worth $9,440,000 after buying an additional 3,343 shares during the period. Deutsche Bank AG boosted its stake in Byline Bancorp by 54.3% during the fourth quarter. Deutsche Bank AG now owns 27,086 shares of the company's stock worth $785,000 after buying an additional 9,528 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Byline Bancorp by 3.4% during the first quarter. Principal Financial Group Inc. now owns 22,758 shares of the company's stock worth $595,000 after buying an additional 740 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group set a $32.00 price objective on shares of Byline Bancorp in a research note on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating and two have assigned 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 $33.25.

Insider Transactions at Byline Bancorp

In other news, Director Phillip R. Cabrera bought 2,360 shares of Byline Bancorp stock in a transaction on Wednesday, June 11th. The stock was acquired at an average cost of $24.75 per share, for a total transaction of $58,410.00. Following the completion of the acquisition, the director owned 3,960 shares of the company's stock, valued at $98,010. This trade represents a 147.50% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Megan Biggam sold 8,576 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $26.75, for a total transaction of $229,408.00. Following the completion of the transaction, the executive vice president owned 17,630 shares of the company's stock, valued at $471,602.50. This represents a 32.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 2,584 shares of company stock valued at $64,100 over the last quarter. 28.79% of the stock is currently owned by corporate insiders.

Byline Bancorp Stock Down 0.1%

Shares of BY stock traded down $0.04 on Friday, hitting $29.02. The stock had a trading volume of 37,868 shares, compared to its average volume of 189,939. The business has a 50 day moving average price of $27.30 and a 200 day moving average price of $26.69. The company has a market cap of $1.33 billion, a PE ratio of 10.82 and a beta of 0.86. Byline Bancorp, Inc. has a one year low of $22.63 and a one year high of $32.89.

Byline Bancorp (NYSE:BY - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The business had revenue of $110.45 million during the quarter, compared to the consensus estimate of $106.95 million. Byline Bancorp had a net margin of 19.03% and a return on equity of 10.98%. Equities research analysts expect that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th were issued a $0.10 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. Byline Bancorp's payout ratio is currently 14.93%.

Byline Bancorp Company Profile

Byline Bancorp, Inc operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States. It offers various retail deposit products, including non-interest-bearing accounts, money market demand accounts, savings accounts, interest-bearing checking accounts, and time deposits; ATM and debit cards; and online, mobile, and text banking services, as well as commercial deposits.