Sei Investments Co. Buys 7,371 Shares of Byline Bancorp, Inc. (NYSE:BY)

Sei Investments Co. lifted its stake in shares of Byline Bancorp, Inc. (NYSE:BY) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 177,381 shares of the company’s stock after acquiring an additional 7,371 shares during the period. Sei Investments Co.’s holdings in Byline Bancorp were worth $5,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BY. Parkside Financial Bank & Trust bought a new position in shares of Byline Bancorp in the 4th quarter valued at $63,000. Quantbot Technologies LP bought a new position in Byline Bancorp in the third quarter valued at about $127,000. Point72 Asset Management L.P. grew its holdings in shares of Byline Bancorp by 481.1% during the third 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 last quarter. Oceanside Advisors LLC bought a new stake in shares of Byline Bancorp during the fourth quarter worth about $206,000. Finally, HighTower Advisors LLC acquired a new position in shares of Byline Bancorp in the third quarter valued at approximately $221,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Byline Bancorp from $29.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens boosted their price objective 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. Finally, Hovde Group raised their target price on Byline Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th.

Byline Bancorp Stock Performance

NYSE:BY opened at $26.42 on Wednesday. The company has a market capitalization of $1.18 billion, a PE ratio of 9.57 and a beta of 1.15. Byline Bancorp, Inc. has a fifty-two week low of $19.70 and a fifty-two week high of $32.89. The company has a 50 day simple moving average of $28.13 and a two-hundred day simple moving average of $28.43.

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, 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%. Research analysts predict that Byline Bancorp, Inc. will post 2.6 EPS for the current year.

Byline Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Byline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, February 4th. Byline Bancorp’s payout ratio is currently 14.49%.

Byline Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 5th that authorizes the company to buyback 1,250,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at Byline Bancorp

In related news, insider Thomas Abraham sold 6,658 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $28.86, for a total transaction of $192,149.88. Following the transaction, the insider now owns 62,282 shares in the company, valued at $1,797,458.52. The trade was a 9.66 % decrease in their position. The transaction 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 corporate insiders.

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.