Thrivent Financial for Lutherans Reduces Holdings in Byline Bancorp, Inc. (NYSE:BY)

Thrivent Financial for Lutherans cut its holdings in Byline Bancorp, Inc. (NYSE:BY - Free Report) by 83.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,959 shares of the company's stock after selling 40,279 shares during the quarter. Thrivent Financial for Lutherans' holdings in Byline Bancorp were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in shares of 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 buying an additional 2,795 shares during the last quarter. FMR LLC increased its holdings in shares of Byline Bancorp by 7.3% during the third quarter. FMR LLC now owns 1,035,844 shares of the company's stock valued at $27,730,000 after acquiring an additional 70,863 shares in the last quarter. Quantbot Technologies LP bought a new position in Byline Bancorp in the 3rd quarter worth about $127,000. BNP Paribas Financial Markets increased its stake in Byline Bancorp by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,093 shares of the company's stock valued at $350,000 after purchasing an additional 6,198 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in Byline Bancorp in the third quarter worth about $221,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BY. Stephens raised their price target on shares of 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 lifted their target price on Byline Bancorp from $33.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, January 27th.

Remove Ads

Insider Buying and Selling

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $28.86, for a total transaction of $192,149.88. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 30.06% of the stock is owned by corporate insiders.

Byline Bancorp Stock Performance

Shares of BY stock traded up $1.15 during trading hours on Wednesday, reaching $24.77. The company had a trading volume of 302,170 shares, compared to its average volume of 148,918. Byline Bancorp, Inc. has a one year low of $19.70 and a one year high of $32.89. The firm has a market cap of $1.11 billion, a PE ratio of 8.98 and a beta of 0.90. The business has a fifty day moving average price of $27.40 and a 200-day moving average price of $28.27.

Byline Bancorp (NYSE:BY - Get Free Report) last released 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%. Equities research analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a $0.10 dividend. The ex-dividend date was Tuesday, February 4th. This is an increase from Byline Bancorp's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.61%. Byline Bancorp's payout ratio is 14.49%.

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.