Bank of New York Mellon Corp Purchases 973 Shares of Byline Bancorp, Inc. (NYSE:BY)

Bank of New York Mellon Corp lifted its holdings in Byline Bancorp, Inc. (NYSE:BY) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 166,809 shares of the company’s stock after purchasing an additional 973 shares during the period. Bank of New York Mellon Corp’s holdings in Byline Bancorp were worth $4,837,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. 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. 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. 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. Public Employees Retirement System of Ohio grew its holdings in Byline Bancorp by 49.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,770 shares of the company’s stock valued at $342,000 after buying an additional 4,200 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Byline Bancorp by 6.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,256 shares of the company’s stock valued at $2,015,000 after buying an additional 4,476 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp Price Performance

Shares of BY stock opened at $26.55 on Tuesday. The stock’s fifty day simple moving average is $28.43 and its 200 day simple moving average is $28.44. 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 $1.19 billion, a price-to-earnings ratio of 9.62 and a beta of 1.15.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, January 23rd. The company reported $0.69 EPS for the quarter, beating 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%. On average, research analysts anticipate that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.51%. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, February 4th. Byline Bancorp’s dividend payout ratio is currently 14.49%.

Byline Bancorp declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 5th that allows the company to repurchase 1,250,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Hovde Group lifted their price objective on Byline Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. 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. Finally, Stephens lifted their price objective on Byline Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th.

Insider Transactions at Byline Bancorp

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of Byline Bancorp stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $28.86, for a total value of $192,149.88. Following the completion of the transaction, the insider now owns 62,282 shares in the company, valued at approximately $1,797,458.52. The trade was a 9.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 30.06% of the company’s stock.

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.