First Trust Advisors LP Makes New Investment in Byline Bancorp, Inc. (NYSE:BY)

First Trust Advisors LP purchased a new stake in Byline Bancorp, Inc. (NYSE:BY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 124,445 shares of the company’s stock, valued at approximately $3,609,000. First Trust Advisors LP owned 0.28% of Byline Bancorp at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Boston Partners grew its holdings in Byline Bancorp by 818.2% during the 4th quarter. Boston Partners now owns 722,295 shares of the company’s stock worth $20,839,000 after acquiring an additional 643,628 shares during the period. Next Century Growth Investors LLC acquired a new stake in Byline Bancorp during the fourth quarter worth approximately $9,599,000. JPMorgan Chase & Co. increased its holdings in Byline Bancorp by 71.6% in 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. Wellington Management Group LLP lifted its stake in Byline Bancorp by 16.6% in the fourth quarter. Wellington Management Group LLP now owns 478,359 shares of the company’s stock valued at $13,872,000 after buying an additional 68,000 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Byline Bancorp by 7.7% during the 4th quarter. American Century Companies Inc. now owns 634,446 shares of the company’s stock worth $18,399,000 after buying an additional 45,228 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BY shares. Stephens increased their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. 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 note on Monday, January 27th.

Insider Activity at Byline Bancorp

In related news, insider Thomas Abraham sold 6,658 shares of Byline Bancorp stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $28.86, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 30.06% of the stock is owned by insiders.

Byline Bancorp Trading Up 2.7 %

Byline Bancorp stock opened at $26.45 on Friday. The firm’s fifty day moving average price is $25.81 and its two-hundred day moving average price is $28.13. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 9.58 and a beta of 0.90. Byline Bancorp, Inc. has a 1-year low of $21.96 and a 1-year high of $32.89.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Byline Bancorp had a return on equity of 11.61% and a net margin of 19.33%. The company had revenue of $103.08 million for the quarter, compared to analyst estimates of $100.82 million. On average, research analysts forecast that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 6th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.51%. Byline Bancorp’s dividend payout ratio is currently 14.81%.

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.