Ashton Thomas Private Wealth LLC Makes New $61,000 Investment in Byline Bancorp, Inc. (NYSE:BY)

Ashton Thomas Private Wealth LLC bought a new position in shares of Byline Bancorp, Inc. (NYSE:BY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,587 shares of the company’s stock, valued at approximately $61,000.

A number of other institutional investors also recently modified their holdings of the business. CWM LLC increased its stake in Byline Bancorp by 104.5% during the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $31,000 after acquiring an additional 676 shares during the period. Innealta Capital LLC acquired a new stake in shares of Byline Bancorp during the 2nd quarter worth $48,000. nVerses Capital LLC bought a new position in shares of Byline Bancorp in the second quarter worth $88,000. Comerica Bank raised its stake in Byline Bancorp by 17,066.0% in the first quarter. Comerica Bank now owns 8,583 shares of the company’s stock valued at $186,000 after purchasing an additional 8,533 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Byline Bancorp during the first quarter worth about $216,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $34.00 price target (up previously from $27.00) on shares of Byline Bancorp in a research report on Wednesday, July 31st. Hovde Group initiated coverage on Byline Bancorp in a research note on Monday, May 20th. They issued an “outperform” rating and a $27.50 price target on the stock. Stephens raised their price objective on Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their target price on Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

Insider Activity at Byline Bancorp

In other Byline Bancorp news, insider John Barkidjija sold 1,488 shares of the stock in a transaction dated Monday, July 29th. The stock was 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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Byline Bancorp news, insider John Barkidjija sold 1,488 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $29.26, for a total transaction of $43,538.88. Following the transaction, the insider now directly owns 30,691 shares in the company, valued at approximately $898,018.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pamela C. Stewart acquired 3,850 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $25.99 per share, with a total value of $100,061.50. Following the purchase, the director now directly owns 6,336 shares in the company, valued at $164,672.64. The disclosure for this purchase can be found here. Insiders have sold 40,309 shares of company stock worth $1,131,254 over the last ninety days. Insiders own 30.06% of the company’s stock.

Byline Bancorp Price Performance

Byline Bancorp stock opened at $26.55 on Monday. The business has a 50 day moving average of $26.64 and a 200-day moving average of $23.64. Byline Bancorp, Inc. has a 1 year low of $18.39 and a 1 year high of $29.49. The company has a market capitalization of $1.17 billion, a P/E ratio of 9.73 and a beta of 1.12.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. Byline Bancorp had a net margin of 19.42% and a return on equity of 12.69%. The firm had revenue of $154.41 million during the quarter, compared to the consensus estimate of $99.25 million. During the same quarter last year, the firm earned $0.73 earnings per share. Equities analysts anticipate that Byline Bancorp, Inc. will post 2.67 EPS for the current year.

Byline Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were given 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 1.36%. Byline Bancorp’s dividend payout ratio (DPR) is 13.19%.

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.