Vanguard Group Inc. Boosts Holdings in Byline Bancorp, Inc. $BY

Vanguard Group Inc. raised its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,822,619 shares of the company’s stock after purchasing an additional 47,798 shares during the period. Vanguard Group Inc.’s holdings in Byline Bancorp were worth $53,129,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Byline Bancorp by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,322,339 shares of the company’s stock worth $64,399,000 after purchasing an additional 24,507 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Byline Bancorp by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 803,287 shares of the company’s stock worth $22,275,000 after purchasing an additional 68,230 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Byline Bancorp by 31.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock worth $16,315,000 after purchasing an additional 140,219 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Byline Bancorp by 0.7% during the 3rd quarter. Federated Hermes Inc. now owns 491,510 shares of the company’s stock worth $13,630,000 after purchasing an additional 3,273 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Byline Bancorp by 56.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 358,536 shares of the company’s stock worth $9,942,000 after purchasing an additional 129,032 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Byline Bancorp Stock Performance

BY opened at $31.88 on Friday. The company’s 50 day simple moving average is $32.06 and its 200 day simple moving average is $30.71. Byline Bancorp, Inc. has a 1 year low of $24.75 and a 1 year high of $34.33. The stock has a market capitalization of $1.45 billion, a PE ratio of 10.38 and a beta of 0.75.

Byline Bancorp (NYSE:BY) last released its earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Byline Bancorp had a net margin of 21.86% and a return on equity of 11.56%. The business had revenue of $112.40 million for the quarter, compared to analysts’ expectations of $113.89 million. As a group, sell-side analysts expect that Byline Bancorp, Inc. will post 3.28 earnings per share for the current fiscal year.

Byline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. Byline Bancorp’s dividend payout ratio (DPR) is currently 15.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BY shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday. Zacks Research cut shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Piper Sandler raised their price target on shares of Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Byline Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.67.

Byline Bancorp Company 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.