Renaissance Technologies LLC Decreases Stock Position in Byline Bancorp, Inc. (NYSE:BY)

Renaissance Technologies LLC reduced its stake in Byline Bancorp, Inc. (NYSE:BY) by 28.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,471 shares of the company’s stock after selling 19,800 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of Byline Bancorp worth $1,174,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BY. Quattro Financial Advisors LLC boosted its holdings in shares of Byline Bancorp by 124,900.0% in the first quarter. Quattro Financial Advisors LLC now owns 30,000 shares of the company’s stock worth $652,000 after acquiring an additional 29,976 shares during the period. Principal Financial Group Inc. bought a new stake in Byline Bancorp during the first quarter worth about $319,000. BNP Paribas Financial Markets lifted its stake in Byline Bancorp by 22.6% during the first quarter. BNP Paribas Financial Markets now owns 13,351 shares of the company’s stock worth $290,000 after purchasing an additional 2,464 shares during the last quarter. Empowered Funds LLC lifted its stake in Byline Bancorp by 15.3% during the first quarter. Empowered Funds LLC now owns 136,681 shares of the company’s stock worth $2,969,000 after purchasing an additional 18,125 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Byline Bancorp by 5.4% during the first quarter. Sei Investments Co. now owns 171,282 shares of the company’s stock worth $3,720,000 after purchasing an additional 8,847 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $34.00 target price (up previously from $27.00) on shares of Byline Bancorp in a research note on Wednesday, July 31st. Stephens boosted their target price 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 boosted their target price on Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Insider Buying and Selling

In other Byline Bancorp news, Director Pamela C. Stewart bought 3,850 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average cost of $25.99 per share, for a total transaction of $100,061.50. Following the purchase, the director now owns 6,336 shares in the company, valued at approximately $164,672.64. This trade represents a 100.00 % increase in their position. The purchase 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 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 transaction, the insider now directly owns 30,691 shares in the company, valued at $898,018.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Pamela C. Stewart purchased 3,850 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $25.99 per share, for a total transaction of $100,061.50. Following the completion of the purchase, the director now owns 6,336 shares in the company, valued at approximately $164,672.64. The trade was a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 40,309 shares of company stock worth $1,131,254 in the last 90 days. Insiders own 30.06% of the company’s stock.

Byline Bancorp Price Performance

BY opened at $25.66 on Friday. The business has a 50 day simple moving average of $26.53 and a two-hundred day simple moving average of $24.22. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.40 and a beta of 1.12. Byline Bancorp, Inc. has a one year low of $18.39 and a one year high of $29.49.

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 the consensus estimate of $0.63 by $0.05. Byline Bancorp had a return on equity of 12.69% and a net margin of 19.42%. The firm had revenue of $154.41 million during the quarter, compared to analyst estimates of $99.25 million. During the same quarter in the prior year, the company earned $0.73 EPS. As a group, sell-side analysts expect that Byline Bancorp, Inc. will post 2.67 EPS for the current fiscal year.

Byline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a $0.09 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.36 annualized dividend and a dividend yield of 1.40%. Byline Bancorp’s payout ratio is currently 13.19%.

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.