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

Teacher Retirement System of Texas raised its holdings in Byline Bancorp, Inc. (NYSE:BY) by 13.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,435 shares of the company’s stock after acquiring an additional 4,455 shares during the quarter. Teacher Retirement System of Texas’ holdings in Byline Bancorp were worth $1,086,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BY. PDT Partners LLC grew its position in shares of Byline Bancorp by 87.4% during the third quarter. PDT Partners LLC now owns 37,074 shares of the company’s stock worth $992,000 after buying an additional 17,288 shares in the last quarter. Barclays PLC lifted its position in shares of Byline Bancorp by 48.3% during the 3rd quarter. Barclays PLC now owns 58,874 shares of the company’s stock worth $1,577,000 after purchasing an additional 19,187 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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. State Street Corp increased its holdings in Byline Bancorp by 6.5% in the third quarter. State Street Corp now owns 845,405 shares of the company’s stock valued at $22,631,000 after buying an additional 51,603 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Byline Bancorp by 21.4% in the third quarter. Principal Financial Group Inc. now owns 20,164 shares of the company’s stock valued at $540,000 after buying an additional 3,550 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other news, insider Thomas Abraham sold 6,658 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 62,282 shares of the company’s stock, valued at approximately $1,797,458.52. The trade was a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 30.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BY. Keefe, Bruyette & Woods increased their price objective on Byline Bancorp from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens raised their price objective on shares of Byline Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Hovde Group upped their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, January 27th.

Byline Bancorp Stock Down 2.4 %

Shares of NYSE BY opened at $26.19 on Friday. The business has a 50-day moving average price of $28.22 and a 200 day moving average price of $28.42. The stock has a market cap of $1.17 billion, a PE ratio of 9.49 and a beta of 1.15. Byline Bancorp, Inc. has a 52-week low of $19.70 and a 52-week high of $32.89.

Byline Bancorp (NYSE:BY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.69 earnings per share 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%. Sell-side analysts anticipate that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp declared that its Board of Directors has approved a share buyback program on Thursday, December 5th that permits the company to buyback 1,250,000 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were paid 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 dividend on an annualized basis and a yield of 1.53%. Byline Bancorp’s payout ratio is currently 14.49%.

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.