SG Americas Securities LLC Makes New Investment in Byline Bancorp, Inc. (NYSE:BY)

SG Americas Securities LLC acquired a new stake in shares of Byline Bancorp, Inc. (NYSE:BY) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,841 shares of the company’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC raised its position in shares of Byline Bancorp by 104.5% during the 2nd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after purchasing an additional 676 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Byline Bancorp during the 2nd quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Byline Bancorp by 10.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,070 shares of the company’s stock valued at $310,000 after purchasing an additional 1,277 shares during the period. Principal Financial Group Inc. raised its position in shares of Byline Bancorp by 13.2% during the 2nd quarter. Principal Financial Group Inc. now owns 16,614 shares of the company’s stock valued at $394,000 after purchasing an additional 1,932 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Byline Bancorp by 19.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,403 shares of the company’s stock valued at $294,000 after purchasing an additional 2,023 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BY shares. Keefe, Bruyette & Woods raised 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 report on Monday, July 29th. Stephens lifted their price target on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $34.00 price target (up from $27.00) on shares of Byline Bancorp in a report on Wednesday, July 31st.

Byline Bancorp Stock Performance

Shares of NYSE BY opened at $26.44 on Monday. The company has a market cap of $1.17 billion, a P/E ratio of 9.68 and a beta of 1.12. The firm’s fifty day moving average is $26.42 and its two-hundred day moving average is $24.56. Byline Bancorp, Inc. has a 52-week low of $18.39 and a 52-week high of $29.49.

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

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.36%. Byline Bancorp’s payout ratio is currently 13.19%.

Insiders Place Their Bets

In other news, Director Pamela C. Stewart purchased 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 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Byline Bancorp news, insider Brogan Ptacin sold 11,812 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $27.65, for a total value of $326,601.80. Following the completion of the sale, the insider now directly owns 25,588 shares of the company’s stock, valued at $707,508.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela C. Stewart acquired 3,850 shares of the stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $25.99 per share, with a total value of $100,061.50. Following the completion of the transaction, the director now owns 6,336 shares in the company, valued at $164,672.64. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 40,309 shares of company stock valued at $1,131,254 in the last three months. Corporate insiders own 30.06% of the company’s stock.

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.