Intech Investment Management LLC Acquires New Position in Byline Bancorp, Inc. (NYSE:BY)

Intech Investment Management LLC acquired a new stake in shares of Byline Bancorp, Inc. (NYSE:BY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,314 shares of the company's stock, valued at approximately $444,000.

Several other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust bought a new position in Byline Bancorp during the 4th quarter valued at about $63,000. Quantbot Technologies LP purchased a new position in shares of Byline Bancorp during the third quarter valued at approximately $127,000. Point72 Asset Management L.P. grew its stake in shares of Byline Bancorp by 481.1% during the third quarter. Point72 Asset Management L.P. now owns 6,462 shares of the company's stock valued at $173,000 after buying an additional 5,350 shares during the last quarter. Oceanside Advisors LLC purchased a new stake in shares of Byline Bancorp in the fourth quarter worth approximately $206,000. Finally, HighTower Advisors LLC bought a new stake in shares of Byline Bancorp during the 3rd quarter worth approximately $221,000. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of Byline Bancorp stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $28.86, for a total value of $192,149.88. Following the transaction, the insider now directly owns 62,282 shares of the company's stock, valued at approximately $1,797,458.52. The trade was a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.06% of the stock is currently owned by corporate insiders.

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Byline Bancorp Stock Down 2.4 %

NYSE:BY traded down $0.66 during mid-day trading on Friday, reaching $26.19. The company's stock had a trading volume of 72,027 shares, compared to its average volume of 142,934. The firm has a market capitalization of $1.17 billion, a PE ratio of 9.49 and a beta of 1.15. The stock has a fifty day moving average of $28.22 and a 200-day moving average of $28.40. Byline Bancorp, Inc. has a 1 year low of $19.70 and a 1 year high of $32.89.

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

Byline Bancorp declared that its Board of Directors has authorized a stock buyback program on Thursday, December 5th that allows the company to buyback 1,250,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Byline Bancorp Increases Dividend

The business 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 annualized dividend and a yield of 1.53%. The ex-dividend date was Tuesday, February 4th. This is a positive change from Byline Bancorp's previous quarterly dividend of $0.09. Byline Bancorp's payout ratio is 14.49%.

Analysts Set New Price Targets

BY has been the topic of a number of recent analyst reports. Hovde Group increased their target price on Byline Bancorp from $33.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Stephens lifted their price objective on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised 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.

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.