Connor Clark & Lunn Investment Management Ltd. Buys 11,280 Shares of Byline Bancorp, Inc. (NYSE:BY)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) by 15.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,536 shares of the company's stock after purchasing an additional 11,280 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.19% of Byline Bancorp worth $2,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Byline Bancorp by 0.6% during 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 acquiring an additional 973 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Byline Bancorp by 9.2% in the 4th quarter. Principal Financial Group Inc. now owns 22,018 shares of the company's stock valued at $639,000 after buying an additional 1,854 shares during the last quarter. Parkside Financial Bank & Trust acquired a new stake in Byline Bancorp in the 4th quarter valued at approximately $63,000. The Manufacturers Life Insurance Company grew its holdings 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 valued at $407,000 after buying an additional 2,795 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Byline Bancorp by 39.9% in the 4th quarter. SG Americas Securities LLC now owns 13,767 shares of the company's stock valued at $399,000 after buying an additional 3,926 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages have recently weighed in on BY. Keefe, Bruyette & Woods lifted their price objective on Byline Bancorp from $29.00 to $33.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Hovde Group lifted their price objective on Byline Bancorp from $33.00 to $34.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Finally, Stephens lifted their price objective 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.

Insider Buying and Selling at Byline Bancorp

In other news, insider Thomas Abraham sold 6,658 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $28.86, for a total value of $192,149.88. Following the sale, the insider now directly owns 62,282 shares in the company, valued at $1,797,458.52. The trade was a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 30.06% of the company's stock.

Byline Bancorp Stock Down 0.4 %

Shares of Byline Bancorp stock traded down $0.10 during trading on Friday, reaching $26.60. 449,474 shares of the company were exchanged, compared to its average volume of 137,912. Byline Bancorp, Inc. has a twelve month low of $19.70 and a twelve month high of $32.89. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.64 and a beta of 1.15. The business has a 50-day moving average price of $28.35 and a 200-day moving average price of $28.40.

Byline Bancorp (NYSE:BY - Get Free Report) last posted its 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%. On average, equities research analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.50%. This is a boost from Byline Bancorp's previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, February 4th. Byline Bancorp's payout ratio is presently 14.49%.

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

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.