Boston Partners Acquires 643,628 Shares of Byline Bancorp, Inc. (NYSE:BY)

Boston Partners lifted its holdings in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 818.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 722,295 shares of the company's stock after acquiring an additional 643,628 shares during the quarter. Boston Partners owned approximately 1.63% of Byline Bancorp worth $20,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new stake in Byline Bancorp during the 4th quarter valued at approximately $444,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Byline Bancorp by 15.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 86,536 shares of the company's stock valued at $2,510,000 after purchasing an additional 11,280 shares in the last quarter. Inceptionr LLC purchased a new stake in Byline Bancorp in the fourth quarter worth $356,000. Parkside Financial Bank & Trust bought a new position in Byline Bancorp in the fourth quarter worth $63,000. Finally, Bank of New York Mellon Corp lifted its position in 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 valued at $4,837,000 after buying an additional 973 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Transactions at Byline Bancorp

In related news, insider Thomas Abraham sold 6,658 shares of the stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 30.06% of the company's stock.

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Wall Street Analysts Forecast Growth

BY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Stephens boosted their price objective 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. Finally, Hovde Group raised their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an "outperform" rating in a research note on Monday, January 27th.

Byline Bancorp Price Performance

NYSE BY traded down $0.38 during mid-day trading on Tuesday, reaching $26.68. The stock had a trading volume of 101,652 shares, compared to its average volume of 138,100. The company has a fifty day moving average price of $28.34 and a 200 day moving average price of $28.42. Byline Bancorp, Inc. has a 1 year low of $19.70 and a 1 year high of $32.89. The stock has a market cap of $1.19 billion, a PE ratio of 9.67 and a beta of 1.15.

Byline Bancorp (NYSE:BY - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts expect that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp announced that its board has initiated a share buyback plan on Thursday, December 5th that permits the company to buyback 1,250,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date 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 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.