Dimensional Fund Advisors LP Boosts Holdings in Byline Bancorp, Inc. (NYSE:BY)

Dimensional Fund Advisors LP boosted its stake in shares of Byline Bancorp, Inc. (NYSE:BY) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,855,547 shares of the company’s stock after purchasing an additional 106,940 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.21% of Byline Bancorp worth $44,049,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BY. CWM LLC boosted its holdings in shares of Byline Bancorp by 104.5% in the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after buying an additional 676 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Byline Bancorp in the 2nd quarter worth $48,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Byline Bancorp in the second quarter valued at about $61,000. nVerses Capital LLC acquired a new position in shares of Byline Bancorp during the second quarter worth about $88,000. Finally, Comerica Bank raised its holdings in Byline Bancorp by 17,066.0% during the first quarter. Comerica Bank now owns 8,583 shares of the company’s stock worth $186,000 after purchasing an additional 8,533 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Byline Bancorp Stock Performance

NYSE BY opened at $26.16 on Monday. Byline Bancorp, Inc. has a one year low of $18.39 and a one year high of $29.49. The company’s 50 day moving average price is $26.81 and its 200 day moving average price is $24.05. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 9.58 and a beta of 1.12.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $154.41 million for the quarter, compared to analyst estimates of $99.25 million. Byline Bancorp had a return on equity of 12.69% and a net margin of 19.42%. During the same period in the previous year, the company earned $0.73 earnings per share. Sell-side analysts forecast that Byline Bancorp, Inc. will post 2.67 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, August 6th. Byline Bancorp’s dividend payout ratio is currently 13.19%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BY. Piper Sandler reaffirmed an “overweight” rating and set a $34.00 price target (up from $27.00) on shares of Byline Bancorp in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Stephens upped their price target on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th.

Insiders Place Their Bets

In related news, insider John Barkidjija sold 27,009 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $28.18, for a total transaction of $761,113.62. Following the completion of the transaction, the insider now owns 22,691 shares in the company, valued at approximately $639,432.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brogan Ptacin sold 11,812 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $27.65, for a total value of $326,601.80. Following the completion of the transaction, the insider now owns 25,588 shares in the company, valued at approximately $707,508.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Barkidjija sold 27,009 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.18, for a total transaction of $761,113.62. Following the transaction, the insider now owns 22,691 shares in the company, valued at approximately $639,432.38. The disclosure for this sale can be found here. Insiders sold a total of 40,309 shares of company stock valued at $1,131,254 over the last 90 days. 30.06% of the stock is owned by company insiders.

About Byline Bancorp

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.