Byline Bancorp, Inc. (NYSE:BY) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its position in Byline Bancorp, Inc. (NYSE:BY) by 52.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,971 shares of the company’s stock after selling 12,320 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Byline Bancorp were worth $294,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Byline Bancorp by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,855,547 shares of the company’s stock valued at $44,049,000 after purchasing an additional 106,940 shares during the period. American Century Companies Inc. grew its position in Byline Bancorp by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 518,727 shares of the company’s stock valued at $12,315,000 after buying an additional 87,796 shares in the last quarter. Fiducient Advisors LLC bought a new position in Byline Bancorp in the 3rd quarter valued at about $1,730,000. Vanguard Group Inc. grew its position in Byline Bancorp by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 1,551,552 shares of the company’s stock valued at $33,700,000 after buying an additional 51,682 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Byline Bancorp by 48.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 140,630 shares of the company’s stock valued at $3,765,000 after buying an additional 46,052 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Byline Bancorp

In other Byline Bancorp news, insider Brogan Ptacin sold 11,812 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $27.65, for a total transaction of $326,601.80. Following the transaction, the insider now owns 25,588 shares in the company, valued at $707,508.20. This trade represents a 31.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 30.06% of the company’s stock.

Byline Bancorp Price Performance

NYSE BY opened at $31.14 on Monday. The company has a 50 day simple moving average of $27.20 and a 200-day simple moving average of $25.69. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 11.32 and a beta of 1.12. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.53.

Byline Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.16%. The ex-dividend date is Tuesday, November 5th. Byline Bancorp’s payout ratio is presently 13.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Stephens increased their target price on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler restated an “overweight” rating and set a $34.00 price objective on shares of Byline Bancorp in a research report on Tuesday, October 29th.

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.