SG Americas Securities LLC Cuts Stock Holdings in Byline Bancorp, Inc. $BY

SG Americas Securities LLC trimmed its stake in Byline Bancorp, Inc. (NYSE:BY) by 52.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,988 shares of the company’s stock after selling 18,743 shares during the period. SG Americas Securities LLC’s holdings in Byline Bancorp were worth $536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC grew its stake in Byline Bancorp by 34.4% in the 1st quarter. AQR Capital Management LLC now owns 137,998 shares of the company’s stock worth $3,610,000 after buying an additional 35,324 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Byline Bancorp by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,491 shares of the company’s stock valued at $484,000 after buying an additional 770 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Byline Bancorp by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,245 shares of the company’s stock valued at $1,995,000 after buying an additional 5,213 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Byline Bancorp by 71.0% during the 1st quarter. Jane Street Group LLC now owns 152,478 shares of the company’s stock worth $3,989,000 after acquiring an additional 63,317 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Byline Bancorp by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 29,577 shares of the company’s stock worth $791,000 after acquiring an additional 712 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Byline Bancorp Stock Performance

Shares of Byline Bancorp stock opened at $37.01 on Wednesday. Byline Bancorp, Inc. has a 52-week low of $25.38 and a 52-week high of $38.83. The company has a fifty day moving average of $34.31 and a 200-day moving average of $32.49. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 12.06 and a beta of 0.72.

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

Byline Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 5th. Byline Bancorp’s payout ratio is 15.64%.

Wall Street Analysts Forecast Growth

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

Byline Bancorp Company 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.