Banc Funds Co. LLC Sells 18,692 Shares of Byline Bancorp, Inc. (NYSE:BY)

Banc Funds Co. LLC decreased its stake in Byline Bancorp, Inc. (NYSE:BY) by 16.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 96,890 shares of the company’s stock after selling 18,692 shares during the quarter. Banc Funds Co. LLC’s holdings in Byline Bancorp were worth $2,594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Byline Bancorp by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after buying an additional 106,940 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Byline Bancorp by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock worth $33,700,000 after acquiring an additional 51,682 shares in the last quarter. FMR LLC raised its stake in shares of Byline Bancorp by 7.3% during the third quarter. FMR LLC now owns 1,035,844 shares of the company’s stock worth $27,730,000 after acquiring an additional 70,863 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Byline Bancorp by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock worth $12,315,000 after acquiring an additional 87,796 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Byline Bancorp by 16.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 191,122 shares of the company’s stock valued at $4,537,000 after purchasing an additional 26,539 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Price Performance

BY opened at $31.42 on Monday. The stock’s 50 day simple moving average is $28.17 and its 200 day simple moving average is $26.25. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 11.43 and a beta of 1.12. Byline Bancorp, Inc. has a 1 year low of $19.70 and a 1 year high of $32.89.

Byline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio is 13.09%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reiterated an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a research report on Tuesday, October 29th.

Byline Bancorp 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.