Byline Bancorp, Inc. (NYSE:BY) Shares Bought by Boston Partners

Boston Partners lifted its stake in shares of Byline Bancorp, Inc. (NYSE:BY) by 818.2% during the 4th quarter, Holdings Channel reports. The fund owned 722,295 shares of the company’s stock after buying an additional 643,628 shares during the quarter. Boston Partners’ holdings in Byline Bancorp were worth $20,839,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BY. Principal Financial Group Inc. raised its position in shares of Byline Bancorp by 21.4% during the 3rd quarter. Principal Financial Group Inc. now owns 20,164 shares of the company’s stock valued at $540,000 after buying an additional 3,550 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Byline Bancorp by 6.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,256 shares of the company’s stock valued at $2,015,000 after purchasing an additional 4,476 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Byline Bancorp by 22.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,198 shares of the company’s stock valued at $407,000 after purchasing an additional 2,795 shares during the last quarter. FMR LLC grew its holdings in shares of Byline Bancorp by 7.3% during the 3rd quarter. FMR LLC now owns 1,035,844 shares of the company’s stock worth $27,730,000 after purchasing an additional 70,863 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Byline Bancorp during the 3rd quarter worth $127,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Byline Bancorp

In other news, insider Thomas Abraham sold 6,658 shares of Byline Bancorp stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $28.86, for a total transaction of $192,149.88. Following the completion of the sale, the insider now directly owns 62,282 shares of the company’s stock, valued at approximately $1,797,458.52. The trade was a 9.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 30.06% of the company’s stock.

Wall Street Analyst Weigh In

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

Byline Bancorp Stock Performance

Shares of BY stock opened at $26.71 on Friday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 9.68 and a beta of 1.15. Byline Bancorp, Inc. has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The company has a 50 day moving average price of $28.35 and a 200 day moving average price of $28.41.

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

Byline Bancorp declared that its board has initiated a stock buyback program on Thursday, December 5th that allows the company to buyback 1,250,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 4th. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.09. Byline Bancorp’s dividend payout ratio (DPR) is presently 14.49%.

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.