Teacher Retirement System of Texas Increases Position in Byline Bancorp, Inc. (NYSE:BY)

Teacher Retirement System of Texas lifted its position in Byline Bancorp, Inc. (NYSE:BY) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,435 shares of the company’s stock after acquiring an additional 4,455 shares during the period. Teacher Retirement System of Texas owned 0.08% of Byline Bancorp worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in shares of Byline Bancorp by 818.2% in the 4th quarter. Boston Partners now owns 722,295 shares of the company’s stock valued at $20,839,000 after acquiring an additional 643,628 shares during the last quarter. Wellington Management Group LLP grew its position in Byline Bancorp by 209.0% during the 3rd quarter. Wellington Management Group LLP now owns 410,359 shares of the company’s stock worth $10,985,000 after purchasing an additional 277,559 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Byline Bancorp by 71.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,242 shares of the company’s stock valued at $14,917,000 after buying an additional 232,530 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Byline Bancorp by 173.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,780 shares of the company’s stock valued at $3,153,000 after buying an additional 74,709 shares during the period. Finally, 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 worth $27,730,000 after buying an additional 70,863 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Byline Bancorp

In other news, insider Thomas Abraham sold 6,658 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 62,282 shares of the company’s stock, valued at $1,797,458.52. This represents a 9.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 30.06% of the company’s stock.

Byline Bancorp Stock Performance

NYSE BY opened at $26.19 on Friday. Byline Bancorp, Inc. has a one year low of $19.70 and a one year high of $32.89. The business has a fifty day moving average price of $28.22 and a 200 day moving average price of $28.42. The company has a market cap of $1.17 billion, a P/E ratio of 9.49 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 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%. As a group, sell-side analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp announced that its board has initiated a stock repurchase program on Thursday, December 5th that allows the company to buyback 1,250,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication 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 given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This is a positive change 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 1.53%. Byline Bancorp’s dividend payout ratio is 14.49%.

Analyst Ratings Changes

BY has been the subject of a number of analyst reports. Stephens boosted 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. 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 report on Wednesday, December 4th. Finally, Hovde Group raised their target price on Byline Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, January 27th.

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.