Quantbot Technologies LP Lowers Stake in Byline Bancorp, Inc. (NYSE:BY)

Quantbot Technologies LP cut its position in Byline Bancorp, Inc. (NYSE:BY) by 79.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 980 shares of the company’s stock after selling 3,756 shares during the quarter. Quantbot Technologies LP’s holdings in Byline Bancorp were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew 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 valued at $1,577,000 after purchasing an additional 19,187 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Byline Bancorp by 71.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company’s stock worth $14,917,000 after buying an additional 232,530 shares in the last quarter. State Street Corp grew its stake in shares of 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 buying an additional 51,603 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Byline Bancorp by 21.4% in the 3rd quarter. Principal Financial Group Inc. now owns 20,164 shares of the company’s stock worth $540,000 after buying an additional 3,550 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised 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 buying an additional 11,280 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BY shares. 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. Stephens boosted their price objective 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. 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 report on Wednesday, December 4th.

Insider Transactions at Byline Bancorp

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $28.86, for a total transaction of $192,149.88. Following the sale, the insider now directly owns 62,282 shares of the company’s stock, valued at approximately $1,797,458.52. This trade represents a 9.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 30.06% of the company’s stock.

Byline Bancorp Stock Performance

Shares of BY opened at $26.42 on Wednesday. The company has a 50 day moving average price of $28.13 and a 200-day moving average price of $28.43. Byline Bancorp, Inc. has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.57 and a beta of 1.15.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.69 EPS 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 research analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.51%. The ex-dividend date was Tuesday, February 4th. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.09. Byline Bancorp’s dividend payout ratio (DPR) is currently 14.49%.

Byline Bancorp announced that its board has initiated a stock repurchase program on Thursday, December 5th that permits the company to buyback 1,250,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership 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.