Charles Schwab Investment Management Inc. Sells 21,206 Shares of Byline Bancorp, Inc. (NYSE:BY)

Charles Schwab Investment Management Inc. lowered its position in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,630 shares of the company's stock after selling 21,206 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.50% of Byline Bancorp worth $6,485,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Parkside Financial Bank & Trust acquired a new stake in shares of Byline Bancorp in the 4th quarter worth approximately $63,000. Bank of New York Mellon Corp grew 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 purchasing an additional 973 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Byline Bancorp by 9.2% during the 4th 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. Oceanside Advisors LLC acquired a new position in Byline Bancorp in the 4th quarter worth about $206,000. Finally, Empowered Funds LLC raised its position in Byline Bancorp by 5.1% during the fourth quarter. Empowered Funds LLC now owns 163,149 shares of the company's stock valued at $4,731,000 after acquiring an additional 7,942 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Byline Bancorp

In other news, insider Thomas Abraham sold 6,658 shares of Byline Bancorp stock in a transaction dated 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 transaction, the insider now directly owns 62,282 shares in the company, valued at $1,797,458.52. This trade represents a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 30.06% of the company's stock.

Remove Ads

Byline Bancorp Price Performance

NYSE BY traded down $0.66 on Friday, reaching $26.19. The stock had a trading volume of 72,027 shares, compared to its average volume of 142,934. Byline Bancorp, Inc. has a 1-year low of $19.70 and a 1-year high of $32.89. The company has a market cap of $1.17 billion, a P/E ratio of 9.49 and a beta of 1.15. The firm has a fifty day moving average of $28.26 and a two-hundred day moving average of $28.40.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.08. Byline Bancorp had a net margin of 19.33% and a return on equity of 11.61%. Research analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

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

Byline Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were issued a $0.10 dividend. 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. This represents a $0.40 annualized dividend and a yield of 1.53%. Byline Bancorp's dividend payout ratio is presently 14.49%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BY shares. 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. Hovde Group boosted their price objective on Byline Bancorp from $33.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Finally, 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.

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.