Aigen Investment Management LP Takes $461,000 Position in Byline Bancorp, Inc. $BY

Aigen Investment Management LP purchased a new stake in Byline Bancorp, Inc. (NYSE:BY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,825 shares of the company’s stock, valued at approximately $461,000.

A number of other large investors also recently made changes to their positions in BY. EverSource Wealth Advisors LLC lifted its stake in shares of Byline Bancorp by 99.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,095 shares of the company’s stock valued at $30,000 after purchasing an additional 546 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Byline Bancorp by 83.1% in the 4th quarter. Clearstead Advisors LLC now owns 1,578 shares of the company’s stock valued at $46,000 after purchasing an additional 716 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Byline Bancorp by 15.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the company’s stock valued at $69,000 after purchasing an additional 313 shares during the period. Russell Investments Group Ltd. raised its stake in Byline Bancorp by 1,572.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,860 shares of the company’s stock worth $79,000 after buying an additional 2,689 shares during the period. Finally, New York State Teachers Retirement System raised its stake in Byline Bancorp by 16.1% during the 4th quarter. New York State Teachers Retirement System now owns 2,864 shares of the company’s stock worth $83,000 after buying an additional 398 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Piper Sandler raised their price objective on Byline Bancorp from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Zacks Research lowered Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Byline Bancorp Stock Performance

Shares of BY opened at $35.02 on Tuesday. The stock has a 50 day simple moving average of $33.16 and a 200 day simple moving average of $31.68. Byline Bancorp, Inc. has a 52-week low of $24.75 and a 52-week high of $35.84. The firm has a market capitalization of $1.59 billion, a PE ratio of 11.41 and a beta of 0.75.

Byline Bancorp (NYSE:BY) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Byline Bancorp had a return on equity of 11.56% and a net margin of 21.86%.The firm had revenue of $112.40 million for the quarter, compared to the consensus estimate of $113.89 million. Equities research analysts predict that Byline Bancorp, Inc. will post 3.28 EPS for the current fiscal year.

Byline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Byline Bancorp’s dividend payout ratio (DPR) is currently 15.64%.

Byline Bancorp 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.