Byline Bancorp, Inc. (NYSE:BY – Get Rating)'s share price reached a new 52-week low on Tuesday after Piper Sandler lowered their price target on the stock from $29.00 to $25.00. The company traded as low as $18.77 and last traded at $18.80, with a volume of 6463 shares traded. The stock had previously closed at $19.25.
Insider Activity at Byline Bancorp
In other news, major shareholder Investors I. L.P. Mbg acquired 13,377 shares of the company's stock in a transaction that occurred on Thursday, February 9th. The stock was purchased at an average cost of $25.16 per share, with a total value of $336,565.32. Following the purchase, the insider now directly owns 11,600,601 shares of the company's stock, valued at approximately $291,871,121.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Valle Perochena Antonio Del purchased 45,000 shares of the company's stock in a transaction on Thursday, February 16th. The stock was bought at an average price of $24.99 per share, with a total value of $1,124,550.00. Following the completion of the transaction, the director now owns 11,645,601 shares of the company's stock, valued at approximately $291,023,568.99. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Investors I. L.P. Mbg purchased 13,377 shares of the company's stock in a transaction on Thursday, February 9th. The shares were bought at an average cost of $25.16 per share, with a total value of $336,565.32. Following the transaction, the insider now directly owns 11,600,601 shares of the company's stock, valued at approximately $291,871,121.16. The disclosure for this purchase can be found here. Insiders bought 118,414 shares of company stock valued at $2,739,285 in the last ninety days. Corporate insiders own 35.50% of the company's stock.
Get Byline Bancorp alerts:Institutional Investors Weigh In On Byline Bancorp
Hedge funds have recently made changes to their positions in the business. Capstone Financial Advisors Inc. boosted its holdings in Byline Bancorp by 5.8% in the third quarter. Capstone Financial Advisors Inc. now owns 12,221 shares of the company's stock valued at $247,000 after acquiring an additional 670 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Byline Bancorp by 5.6% during the fourth quarter. SG Americas Securities LLC now owns 13,667 shares of the company's stock worth $314,000 after purchasing an additional 720 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Byline Bancorp by 19.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,486 shares of the company's stock worth $126,000 after purchasing an additional 904 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Byline Bancorp by 4.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 24,362 shares of the company's stock worth $560,000 after purchasing an additional 930 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Byline Bancorp by 1.9% during the fourth quarter. Swiss National Bank now owns 54,300 shares of the company's stock worth $1,247,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 47.06% of the company's stock.
Byline Bancorp Stock Performance
The firm has a market capitalization of $681.04 million, a PE ratio of 7.40 and a beta of 1.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a 50-day moving average price of $21.36 and a 200-day moving average price of $22.55.
Byline Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 23rd. Investors of record on Tuesday, May 9th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Monday, May 8th. Byline Bancorp's dividend payout ratio is currently 14.75%.
About Byline Bancorp
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Byline Bancorp, Inc is a holding company, which engages in business through its subsidiary, Byline Bank, a full services commercial bank. It offers a broad range of banking products and service to small and medium sized businesses, commercial real estate and financial sponsors, and to consumers in the branch areas.
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