Principal Financial Group Inc. Buys 3,550 Shares of Byline Bancorp, Inc. (NYSE:BY)

Principal Financial Group Inc. lifted its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 21.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,164 shares of the company’s stock after purchasing an additional 3,550 shares during the period. Principal Financial Group Inc.’s holdings in Byline Bancorp were worth $540,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in Byline Bancorp in the second quarter worth $26,000. CWM LLC raised its holdings in Byline Bancorp by 104.5% during the second quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $31,000 after acquiring an additional 676 shares during the period. Innealta Capital LLC bought a new stake in Byline Bancorp in the 2nd quarter worth approximately $48,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Byline Bancorp in the 2nd quarter worth approximately $61,000. Finally, New York State Teachers Retirement System lifted its stake in shares of Byline Bancorp by 25.3% during the 3rd quarter. New York State Teachers Retirement System now owns 2,842 shares of the company’s stock worth $76,000 after acquiring an additional 574 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Byline Bancorp Stock Up 1.9 %

Shares of NYSE:BY opened at $31.94 on Monday. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.53. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.61 and a beta of 1.12. The company has a 50 day moving average of $27.71 and a two-hundred day moving average of $25.97.

Byline Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Tuesday, November 5th. Byline Bancorp’s dividend payout ratio is currently 13.09%.

Analyst Upgrades and Downgrades

BY has been the subject of several recent research reports. Stephens lifted their target price on shares of Byline Bancorp from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $34.00 target price on shares of Byline Bancorp in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Byline Bancorp from $25.00 to $29.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

Insider Buying and Selling at Byline Bancorp

In other Byline Bancorp news, insider Brogan Ptacin sold 11,812 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $27.65, for a total value of $326,601.80. Following the completion of the transaction, the insider now owns 25,588 shares of the company’s stock, valued at $707,508.20. This represents a 31.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 30.06% of the company’s stock.

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.