Charles Schwab Investment Management Inc. Cuts Position in Byline Bancorp, Inc. (NYSE:BY)

Charles Schwab Investment Management Inc. reduced its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,630 shares of the company’s stock after selling 21,206 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.50% of Byline Bancorp worth $6,485,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted 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 acquiring an additional 277,559 shares during the period. JPMorgan Chase & Co. lifted 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 purchasing an additional 232,530 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Byline Bancorp by 173.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,780 shares of the company’s stock worth $3,153,000 after purchasing an additional 74,709 shares in the last quarter. FMR LLC boosted its stake in shares of 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 purchasing an additional 70,863 shares during the period. Finally, State Street Corp grew its holdings in Byline Bancorp by 6.5% during the 3rd quarter. State Street Corp now owns 845,405 shares of the company’s stock valued at $22,631,000 after purchasing an additional 51,603 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Byline Bancorp Stock Up 1.6 %

Shares of NYSE BY opened at $27.07 on Tuesday. The stock’s 50 day moving average price is $28.34 and its two-hundred day moving average price is $28.42. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.89. The stock has a market capitalization of $1.21 billion, a P/E ratio of 9.81 and a beta of 1.15.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.08. Byline Bancorp had a return on equity of 11.61% and a net margin of 19.33%. On average, analysts anticipate that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 5th that allows the company to buyback 1,250,000 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were issued a $0.10 dividend. 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 dividend yield of 1.48%. Byline Bancorp’s payout ratio is 14.49%.

Insider Activity at Byline Bancorp

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the firm’s 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 sale, the insider now directly owns 62,282 shares in the company, valued at approximately $1,797,458.52. This trade represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 30.06% of the company’s stock.

Analysts Set New Price Targets

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

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.