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

Bank of New York Mellon Corp raised its stake in Byline Bancorp, Inc. (NYSE:BY) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,809 shares of the company’s stock after acquiring an additional 973 shares during the period. Bank of New York Mellon Corp owned 0.38% of Byline Bancorp worth $4,837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC boosted its stake in Byline Bancorp by 7.3% in 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 during the period. State Street Corp boosted its position in shares of Byline Bancorp by 6.5% during the third 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 during the period. JPMorgan Chase & Co. boosted its position in shares of Byline Bancorp by 71.6% during the third 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 during the period. Wellington Management Group LLP grew its holdings in Byline Bancorp by 209.0% in the 3rd quarter. Wellington Management Group LLP now owns 410,359 shares of the company’s stock worth $10,985,000 after buying an additional 277,559 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Byline Bancorp by 5.1% in the 4th quarter. Empowered Funds LLC now owns 163,149 shares of the company’s stock worth $4,731,000 after buying an additional 7,942 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Byline Bancorp

In other news, insider Thomas Abraham sold 6,658 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $28.86, for a total value of $192,149.88. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. 30.06% of the stock is currently owned by company insiders.

Byline Bancorp Stock Performance

Shares of NYSE:BY opened at $26.55 on Tuesday. Byline Bancorp, Inc. has a one year low of $19.70 and a one year high of $32.89. The stock has a fifty day moving average of $28.43 and a 200-day moving average of $28.44. The company has a market capitalization of $1.19 billion, a PE ratio of 9.62 and a beta of 1.15.

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

Byline Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, December 5th that authorizes the company to buyback 1,250,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were paid 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 1.51%. Byline Bancorp’s dividend payout ratio is 14.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Hovde Group increased 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 increased 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 upped their target price on Byline Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th.

About Byline Bancorp

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.