Quantbot Technologies LP Reduces Position in Byline Bancorp, Inc. (NYSE:BY)

Quantbot Technologies LP decreased its holdings in Byline Bancorp, Inc. (NYSE:BY) by 79.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 980 shares of the company’s stock after selling 3,756 shares during the period. Quantbot Technologies LP’s holdings in Byline Bancorp were worth $28,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust purchased a new position in shares of Byline Bancorp in the fourth quarter valued at $63,000. Point72 Asset Management L.P. boosted its stake in Byline Bancorp by 481.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 6,462 shares of the company’s stock worth $173,000 after purchasing an additional 5,350 shares during the period. Oceanside Advisors LLC purchased a new position in Byline Bancorp during the 4th quarter valued at about $206,000. HighTower Advisors LLC bought a new stake in shares of Byline Bancorp during the third quarter valued at about $221,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Byline Bancorp by 49.0% in the third quarter. Public Employees Retirement System of Ohio now owns 12,770 shares of the company’s stock worth $342,000 after buying an additional 4,200 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BY. Keefe, Bruyette & Woods upped 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. Hovde Group boosted 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. Finally, Stephens raised their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th.

Insider Buying and Selling

In related news, insider Thomas Abraham sold 6,658 shares of the business’s 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 transaction, the insider now directly owns 62,282 shares in the company, valued at $1,797,458.52. The trade was a 9.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 30.06% of the stock is owned by company insiders.

Byline Bancorp Price Performance

BY opened at $26.42 on Wednesday. Byline Bancorp, Inc. has a one year low of $19.70 and a one year high of $32.89. The business has a 50 day simple moving average of $28.13 and a two-hundred day simple moving average of $28.43. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.57 and a beta of 1.15.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.69 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%. As a group, sell-side analysts expect that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal year.

Byline Bancorp Increases Dividend

The firm also recently announced 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 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 currently 14.49%.

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

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.