Byline Bancorp, Inc. (NYSE:BY) is Detalus Advisors LLC’s 9th Largest Position

Detalus Advisors LLC cut its position in Byline Bancorp, Inc. (NYSE:BY) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,052 shares of the company’s stock after selling 16,500 shares during the period. Byline Bancorp comprises 2.0% of Detalus Advisors LLC’s portfolio, making the stock its 9th largest holding. Detalus Advisors LLC’s holdings in Byline Bancorp were worth $5,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in shares of Byline Bancorp by 7.3% in the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock worth $27,730,000 after purchasing an additional 70,863 shares in the last quarter. State Street Corp increased its stake in shares of Byline Bancorp by 6.5% in the third quarter. State Street Corp now owns 845,405 shares of the company’s stock worth $22,631,000 after purchasing an additional 51,603 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Byline Bancorp by 71.6% in the third quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company’s stock worth $14,917,000 after purchasing an additional 232,530 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Byline Bancorp by 209.0% in the third quarter. Wellington Management Group LLP now owns 410,359 shares of the company’s stock worth $10,985,000 after purchasing an additional 277,559 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Byline Bancorp by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 166,809 shares of the company’s stock worth $4,837,000 after purchasing an additional 973 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on BY shares. Keefe, Bruyette & Woods increased their price objective on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Hovde Group raised their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, Stephens raised their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th.

Byline Bancorp Stock Performance

BY opened at $28.54 on Monday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.34 and a beta of 1.15. The company has a fifty day moving average of $28.87 and a 200 day moving average of $28.45. Byline Bancorp, Inc. has a fifty-two week low of $19.70 and a fifty-two week high of $32.89.

Byline Bancorp (NYSE:BY) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.61 by $0.08. Byline Bancorp had a net margin of 19.33% and a return on equity of 11.61%. On average, equities research analysts forecast that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $0.40 annualized dividend and a yield of 1.40%. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.09. Byline Bancorp’s dividend payout ratio (DPR) is 14.49%.

Byline Bancorp announced that its board has initiated a stock buyback program on Thursday, December 5th that permits the company to repurchase 1,250,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Byline Bancorp

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $28.86, for a total transaction of $192,149.88. Following the completion of the transaction, the insider now owns 62,282 shares in the company, valued at $1,797,458.52. This trade represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 30.06% of the stock is owned by company insiders.

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.