Oceanside Advisors LLC Buys Shares of 7,100 Byline Bancorp, Inc. (NYSE:BY)

Oceanside Advisors LLC purchased a new stake in Byline Bancorp, Inc. (NYSE:BY) during the 4th quarter, Holdings Channel reports. The firm purchased 7,100 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in Byline Bancorp by 7.3% in the 3rd quarter. FMR LLC now owns 1,035,844 shares of the company’s stock valued at $27,730,000 after buying an additional 70,863 shares in the last quarter. State Street Corp boosted its holdings in shares of Byline Bancorp by 6.5% in the third quarter. State Street Corp now owns 845,405 shares of the company’s stock valued at $22,631,000 after acquiring an additional 51,603 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Byline Bancorp by 71.6% during 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 during the period. Wellington Management Group LLP lifted its position in Byline Bancorp by 209.0% in the third quarter. Wellington Management Group LLP now owns 410,359 shares of the company’s stock worth $10,985,000 after purchasing an additional 277,559 shares during the period. Finally, Empowered Funds LLC boosted its stake in Byline Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 163,149 shares of the company’s stock valued at $4,731,000 after purchasing an additional 7,942 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Byline Bancorp Trading Down 0.9 %

NYSE:BY opened at $29.40 on Tuesday. The business’s fifty day moving average price is $29.32 and its 200 day moving average price is $28.18. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 10.65 and a beta of 1.15. Byline Bancorp, Inc. has a 1-year low of $19.70 and a 1-year high of $32.89.

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

Byline Bancorp declared that its Board of Directors has approved a share buyback plan on Thursday, December 5th that authorizes the company to buyback 1,250,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.36%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, February 4th. Byline Bancorp’s payout ratio is currently 14.49%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price objective on Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Stephens raised their price objective on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Piper Sandler reiterated an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a report on Tuesday, October 29th. Finally, Hovde Group lifted their target price on Byline Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, January 27th.

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.