Jennison Associates LLC Invests $11.35 Million in Byline Bancorp, Inc. (BY)
Jennison Associates LLC bought a new position in shares of Byline Bancorp, Inc. (NYSE:BY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 566,180 shares of the company’s stock, valued at approximately $11,352,000. Jennison Associates LLC owned 1.99% of Byline Bancorp as of its most recent SEC filing.
Separately, LMR Partners LLP purchased a new stake in shares of Byline Bancorp during the second quarter worth approximately $1,023,000. 20.06% of the stock is currently owned by institutional investors.
Byline Bancorp, Inc. (NYSE BY) opened at 21.01 on Monday. The firm’s 50-day moving average price is $20.66 and its 200-day moving average price is $20.61. Byline Bancorp, Inc. has a 1-year low of $19.29 and a 1-year high of $21.49. The firm’s market cap is $615.70 million.
Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, July 27th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.21 by $0.39. The firm had revenue of $43 million for the quarter. Equities research analysts anticipate that Byline Bancorp, Inc. will post $0.94 earnings per share for the current fiscal year.
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A number of analysts recently commented on BY shares. Bank of America Corporation started coverage on Byline Bancorp in a research report on Tuesday, July 25th. They issued a “buy” rating and a $25.00 target price for the company. Stephens started coverage on Byline Bancorp in a research report on Wednesday, July 26th. They issued an “equal weight” rating for the company. Keefe, Bruyette & Woods started coverage on Byline Bancorp in a research report on Tuesday, July 25th. They issued a “market perform” rating and a $22.00 target price for the company. Finally, Piper Jaffray Companies assumed coverage on Byline Bancorp in a research report on Tuesday, July 25th. They issued an “overweight” rating and a $25.00 target price for the company.
In other Byline Bancorp news, SVP Thomas J. Bell III purchased 3,000 shares of Byline Bancorp stock in a transaction dated Thursday, July 6th. The stock was acquired at an average price of $19.00 per share, for a total transaction of $57,000.00. Following the acquisition, the senior vice president now owns 5,905 shares in the company, valued at approximately $112,195. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roberto R. Herencia purchased 34,807 shares of Byline Bancorp stock in a transaction dated Thursday, July 6th. The stock was acquired at an average price of $18.03 per share, with a total value of $627,570.21. Following the acquisition, the director now owns 81,435 shares in the company, valued at approximately $1,468,273.05. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 42,057 shares of company stock valued at $765,320.
About Byline Bancorp
Byline Bancorp, Inc is a bank holding company. The Company operates through its subsidiary, Byline Bank (the Bank). Byline Bank is a full service commercial bank. The Bank operates through 56 branches in the Chicago metropolitan area. The Bank offers a broad range of banking products and services to small and medium sized businesses, commercial real estate and financial sponsors, and to consumers.
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