Assenagon Asset Management S.A. Takes Position in Byline Bancorp, Inc. $BY

Assenagon Asset Management S.A. bought a new position in Byline Bancorp, Inc. (NYSE:BY) in the first quarter, HoldingsChannel.com reports. The fund bought 227,317 shares of the company’s stock, valued at approximately $7,176,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Byline Bancorp by 31.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 588,359 shares of the company’s stock valued at $16,315,000 after purchasing an additional 140,219 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Byline Bancorp by 9.3% in 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. Blair William & Co. IL increased its position in shares of Byline Bancorp by 924.5% during the 3rd quarter. Blair William & Co. IL now owns 79,124 shares of the company’s stock worth $2,194,000 after purchasing an additional 71,401 shares in the last quarter. Denali Advisors LLC lifted its holdings in Byline Bancorp by 32.3% during the 4th quarter. Denali Advisors LLC now owns 125,752 shares of the company’s stock valued at $3,666,000 after purchasing an additional 30,711 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in Byline Bancorp by 33.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 116,780 shares of the company’s stock valued at $3,238,000 after purchasing an additional 29,008 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Stock Performance

Shares of BY opened at $37.40 on Monday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 12.18 and a beta of 0.75. The business’s fifty day moving average price is $33.70 and its two-hundred day moving average price is $32.14. Byline Bancorp, Inc. has a 52 week low of $25.38 and a 52 week high of $37.56.

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

Byline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, May 5th. Byline Bancorp’s dividend payout ratio (DPR) is 15.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of Byline Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Byline Bancorp in a research note on Wednesday, May 13th. Finally, Piper Sandler lifted their target price on shares of Byline Bancorp from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $36.00.

About Byline Bancorp

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.