American Century Companies Inc. Grows Position in Byline Bancorp, Inc. (NYSE:BY)

American Century Companies Inc. increased its stake in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 634,446 shares of the company's stock after purchasing an additional 45,228 shares during the quarter. American Century Companies Inc. owned about 1.43% of Byline Bancorp worth $18,399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BY. Bank of New York Mellon Corp boosted its holdings in Byline Bancorp by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 166,809 shares of the company's stock valued at $4,837,000 after purchasing an additional 973 shares during the period. Principal Financial Group Inc. grew its position in Byline Bancorp by 9.2% during the fourth quarter. Principal Financial Group Inc. now owns 22,018 shares of the company's stock worth $639,000 after buying an additional 1,854 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in Byline Bancorp during the fourth quarter worth about $63,000. The Manufacturers Life Insurance Company increased its stake in Byline Bancorp by 22.5% in the 3rd 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. Finally, SG Americas Securities LLC raised its stake in Byline Bancorp by 39.9% in the fourth quarter. SG Americas Securities LLC now owns 13,767 shares of the company's stock valued at $399,000 after purchasing an additional 3,926 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BY shares. Hovde Group increased their price target on shares of Byline Bancorp from $33.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Stephens raised their price target 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 Price Performance

NYSE BY traded down $0.89 during trading on Friday, hitting $24.11. 324,177 shares of the company's stock traded hands, compared to its average volume of 146,100. The stock has a fifty day moving average of $27.93 and a two-hundred day moving average of $28.39. Byline Bancorp, Inc. has a 12-month low of $19.70 and a 12-month high of $32.89. The firm has a market cap of $1.08 billion, a P/E ratio of 8.74 and a beta of 0.90.

Byline Bancorp (NYSE:BY - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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, analysts expect that Byline Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Byline Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.66%. This is an increase from Byline Bancorp's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, February 4th. Byline Bancorp's payout ratio is presently 14.49%.

Insider Activity at Byline Bancorp

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $28.86, for a total value of $192,149.88. Following the completion of the sale, the insider now owns 62,282 shares in the company, valued at approximately $1,797,458.52. This trade represents a 9.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 30.06% of the stock is currently owned by company insiders.

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.