Byline Bancorp, Inc. (NYSE:BY) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its stake in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 52.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 123,393 shares of the company's stock after selling 135,788 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.28% of Byline Bancorp worth $3,578,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Byline Bancorp by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 166,809 shares of the company's stock worth $4,837,000 after purchasing an additional 973 shares in the last quarter. Princeton Capital Management LLC raised its holdings in shares of Byline Bancorp by 12.0% during the fourth quarter. Princeton Capital Management LLC now owns 11,200 shares of the company's stock valued at $325,000 after acquiring an additional 1,200 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Byline Bancorp by 9.2% in the fourth quarter. Principal Financial Group Inc. now owns 22,018 shares of the company's stock valued at $639,000 after acquiring an additional 1,854 shares in the last quarter. Parkside Financial Bank & Trust acquired a new stake in shares of Byline Bancorp in the fourth quarter worth approximately $63,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Byline Bancorp by 22.5% in the third quarter. The Manufacturers Life Insurance Company now owns 15,198 shares of the company's stock worth $407,000 after acquiring an additional 2,795 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, insider Thomas Abraham sold 6,658 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 owns 62,282 shares in the company, valued at $1,797,458.52. This represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 30.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Hovde Group raised their price objective on Byline Bancorp from $33.00 to $34.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Stephens raised their price target on shares of Byline Bancorp from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 29th.

Byline Bancorp Stock Down 0.7 %

NYSE BY traded down $0.16 during trading on Friday, hitting $23.25. The stock had a trading volume of 165,372 shares, compared to its average volume of 149,738. The company has a market capitalization of $1.04 billion, a PE ratio of 8.42 and a beta of 0.90. The firm has a 50 day moving average price of $27.17 and a 200 day moving average price of $28.22. Byline Bancorp, Inc. has a twelve month low of $19.82 and a twelve month high of $32.89.

Byline Bancorp (NYSE:BY - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.08. Byline Bancorp had a net margin of 19.33% and a return on equity of 11.61%. On average, sell-side analysts anticipate that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, February 4th. This is an increase from Byline Bancorp's previous quarterly dividend of $0.09. Byline Bancorp's dividend payout ratio (DPR) is currently 14.49%.

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.