The Manufacturers Life Insurance Company Raises Stake in Byline Bancorp, Inc. (NYSE:BY)

The Manufacturers Life Insurance Company raised its position in Byline Bancorp, Inc. (NYSE:BY) by 19.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,403 shares of the company’s stock after purchasing an additional 2,023 shares during the period. The Manufacturers Life Insurance Company’s holdings in Byline Bancorp were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

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

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $26.86 on Friday. Byline Bancorp, Inc. has a one year low of $18.39 and a one year high of $29.49. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.84 and a beta of 1.12. The company has a 50-day simple moving average of $26.40 and a 200-day simple moving average of $24.50.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $154.41 million during the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.73 EPS. As a group, research analysts forecast that Byline Bancorp, Inc. will post 2.67 EPS for the current fiscal year.

Byline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.34%. Byline Bancorp’s dividend payout ratio (DPR) is 13.19%.

Insiders Place Their Bets

In other Byline Bancorp news, insider John Barkidjija sold 1,488 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $29.26, for a total value of $43,538.88. Following the completion of the sale, the insider now owns 30,691 shares of the company’s stock, valued at approximately $898,018.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Barkidjija sold 1,488 shares of Byline Bancorp stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $29.26, for a total transaction of $43,538.88. Following the completion of the sale, the insider now directly owns 30,691 shares in the company, valued at approximately $898,018.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela C. Stewart acquired 3,850 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $25.99 per share, with a total value of $100,061.50. Following the completion of the purchase, the director now directly owns 6,336 shares in the company, valued at $164,672.64. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 40,309 shares of company stock worth $1,131,254. Company insiders own 30.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Stephens raised their price target on Byline Bancorp from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $34.00 price objective (up previously from $27.00) on shares of Byline Bancorp in a research note on Wednesday, July 31st.

Byline Bancorp 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.