Empowered Funds LLC Raises Position in Byline Bancorp, Inc. (NYSE:BY)

Empowered Funds LLC increased its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,149 shares of the company’s stock after purchasing an additional 7,942 shares during the period. Empowered Funds LLC owned approximately 0.37% of Byline Bancorp worth $4,731,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Rosenthal Henry Capital Advisors Inc. bought a new stake in Byline Bancorp during the 4th quarter valued at $1,012,000. SG Americas Securities LLC increased its stake in shares of Byline Bancorp by 39.9% during the fourth quarter. SG Americas Securities LLC now owns 13,767 shares of the company’s stock valued at $399,000 after buying an additional 3,926 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Byline Bancorp by 71.6% in the third quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company’s stock valued at $14,917,000 after acquiring an additional 232,530 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Byline Bancorp by 21.4% in the third quarter. Principal Financial Group Inc. now owns 20,164 shares of the company’s stock worth $540,000 after acquiring an additional 3,550 shares during the period. Finally, Barclays PLC lifted its stake in Byline Bancorp by 48.3% in the third quarter. Barclays PLC now owns 58,874 shares of the company’s stock worth $1,577,000 after acquiring an additional 19,187 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Trading Up 2.5 %

NYSE:BY opened at $30.09 on Wednesday. Byline Bancorp, Inc. has a twelve month low of $19.70 and a twelve month high of $32.89. The company has a market cap of $1.34 billion, a PE ratio of 10.90 and a beta of 1.15. The company’s 50 day moving average is $29.30 and its two-hundred day moving average is $28.18.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, January 23rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Byline Bancorp had a return on equity of 11.61% and a net margin of 19.33%. As a group, analysts expect that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.09. Byline Bancorp’s dividend payout ratio (DPR) is currently 14.49%.

Byline Bancorp declared that its board has authorized a share repurchase program on Thursday, December 5th that allows the company to buyback 1,250,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BY. Hovde Group boosted their price target on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Stephens upped their target price on Byline Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Piper Sandler reaffirmed an “overweight” rating and set a $34.00 target price on shares of Byline Bancorp in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Byline Bancorp Company 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.