Intech Investment Management LLC Buys Shares of 15,314 Byline Bancorp, Inc. (NYSE:BY)

Intech Investment Management LLC purchased a new position in shares of Byline Bancorp, Inc. (NYSE:BY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,314 shares of the company’s stock, valued at approximately $444,000.

A number of other hedge funds also recently modified their holdings of BY. Connor Clark & Lunn Investment Management Ltd. raised its stake in Byline Bancorp by 15.0% in 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 acquiring an additional 11,280 shares during the period. Inceptionr LLC bought a new stake in shares of Byline Bancorp in the fourth quarter valued at approximately $356,000. Parkside Financial Bank & Trust purchased a new stake in shares of Byline Bancorp during the 4th quarter valued at approximately $63,000. Bank of New York Mellon Corp boosted its holdings in Byline Bancorp by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 166,809 shares of the company’s stock worth $4,837,000 after buying an additional 973 shares during the period. Finally, Principal Financial Group Inc. grew its stake 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 in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. 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 report on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens upped their price target on Byline Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th.

Insiders Place Their Bets

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the firm’s 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 owns 62,282 shares in the company, valued at $1,797,458.52. This trade represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 30.06% of the company’s stock.

Byline Bancorp Stock Performance

Byline Bancorp stock opened at $27.07 on Tuesday. The stock has a market cap of $1.21 billion, a P/E ratio of 9.81 and a beta of 1.15. Byline Bancorp, Inc. has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The firm’s fifty day moving average price is $28.34 and its 200-day moving average price is $28.42.

Byline Bancorp (NYSE:BY) last announced its earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Byline Bancorp had a return on equity of 11.61% and a net margin of 19.33%. Sell-side analysts predict that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

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 given a dividend of $0.10 per share. The ex-dividend date was Tuesday, February 4th. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.48%. Byline Bancorp’s payout ratio is presently 14.49%.

Byline Bancorp declared that its Board of Directors has authorized a share buyback plan on Thursday, December 5th that permits the company to buyback 1,250,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.