Next Century Growth Investors LLC Acquires New Stake in Byline Bancorp, Inc. (NYSE:BY)

Next Century Growth Investors LLC acquired a new position in Byline Bancorp, Inc. (NYSE:BY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 330,983 shares of the company's stock, valued at approximately $9,599,000. Next Century Growth Investors LLC owned about 0.75% of Byline Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Byline Bancorp by 48.3% in the third quarter. Barclays PLC now owns 58,874 shares of the company's stock worth $1,577,000 after buying an additional 19,187 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Byline Bancorp by 71.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company's stock worth $14,917,000 after acquiring an additional 232,530 shares during the period. State Street Corp lifted its stake in Byline Bancorp by 6.5% in the 3rd quarter. State Street Corp now owns 845,405 shares of the company's stock worth $22,631,000 after purchasing an additional 51,603 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Byline Bancorp by 21.4% in the 3rd quarter. Principal Financial Group Inc. now owns 20,164 shares of the company's stock valued at $540,000 after purchasing an additional 3,550 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Byline Bancorp by 15.0% during the 4th 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. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Hovde Group lifted their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Stephens lifted their price objective on shares of Byline Bancorp from $33.00 to $34.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th.

Byline Bancorp Trading Up 0.8 %

Shares of BY stock traded up $0.18 during trading hours on Thursday, hitting $24.15. 86,419 shares of the company's stock were exchanged, compared to its average volume of 147,356. The company has a market capitalization of $1.08 billion, a PE ratio of 8.75 and a beta of 0.90. Byline Bancorp, Inc. has a 12-month low of $19.84 and a 12-month high of $32.89. The business's 50 day simple moving average is $26.81 and its 200-day simple moving average is $28.18.

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 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%. Equities analysts anticipate that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Increases Dividend

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

Insider Activity

In related news, insider Thomas Abraham sold 6,658 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 62,282 shares in the company, valued at $1,797,458.52. This represents a 9.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 30.06% of the company's stock.

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.