Byline Bancorp, Inc. (NYSE:BY) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 634,446 shares of the company’s stock after purchasing an additional 45,228 shares during the quarter. American Century Companies Inc. owned 1.43% of Byline Bancorp worth $18,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Byline Bancorp by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 166,809 shares of the company’s stock valued at $4,837,000 after purchasing an additional 973 shares during the period. Principal Financial Group Inc. increased its position 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 acquiring an additional 1,854 shares during the period. Parkside Financial Bank & Trust acquired a new stake in Byline Bancorp in the 4th quarter valued at approximately $63,000. The Manufacturers Life Insurance Company raised its stake in Byline Bancorp by 22.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 15,198 shares of the company’s stock valued at $407,000 after acquiring an additional 2,795 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Byline Bancorp by 39.9% during the 4th quarter. SG Americas Securities LLC now owns 13,767 shares of the company’s stock worth $399,000 after acquiring an additional 3,926 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Byline Bancorp

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,797,458.52. This represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 30.06% of the company’s stock.

Byline Bancorp Stock Down 0.1 %

NYSE:BY opened at $26.15 on Tuesday. The business’s 50-day moving average price is $28.17 and its 200 day moving average price is $28.44. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.89. The firm has a market cap of $1.17 billion, a P/E ratio of 9.47 and a beta of 1.15.

Byline Bancorp (NYSE:BY) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.69 earnings per share (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%. Sell-side analysts expect that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp declared that its board has approved a share repurchase program on Thursday, December 5th that permits the company to repurchase 1,250,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Byline Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.53%. 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 is 14.49%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BY shares. Keefe, Bruyette & Woods lifted their price objective on shares of Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Hovde Group boosted their price target on shares of Byline Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Stephens increased their price objective on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th.

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.