Byline Bancorp, Inc. (NYSE:BY) Stock Holdings Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in Byline Bancorp, Inc. (NYSE:BY) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm owned 15,481 shares of the company’s stock after selling 1,169 shares during the quarter. Corebridge Financial Inc.’s holdings in Byline Bancorp were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Byline Bancorp during the fourth quarter valued at approximately $148,000. Sei Investments Co. raised its stake in Byline Bancorp by 4.3% during the 4th quarter. Sei Investments Co. now owns 177,381 shares of the company’s stock valued at $5,144,000 after acquiring an additional 7,371 shares in the last quarter. American Century Companies Inc. raised its stake in Byline Bancorp by 7.7% during the 4th quarter. American Century Companies Inc. now owns 634,446 shares of the company’s stock valued at $18,399,000 after acquiring an additional 45,228 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Byline Bancorp by 13.5% during the 4th quarter. Teacher Retirement System of Texas now owns 37,435 shares of the company’s stock worth $1,086,000 after acquiring an additional 4,455 shares during the period. Finally, Boston Partners grew its stake in shares of Byline Bancorp by 818.2% in the fourth quarter. Boston Partners now owns 722,295 shares of the company’s stock worth $20,839,000 after purchasing an additional 643,628 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Byline Bancorp Stock Performance

Shares of BY stock opened at $23.49 on Wednesday. Byline Bancorp, Inc. has a 1 year low of $19.70 and a 1 year high of $32.89. The business’s fifty day moving average is $27.59 and its 200-day moving average is $28.32. The stock has a market cap of $1.05 billion, a PE ratio of 8.51 and a beta of 0.90.

Byline Bancorp (NYSE:BY) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Byline Bancorp had a net margin of 19.33% and a return on equity of 11.61%. Equities research analysts predict that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were given a $0.10 dividend. This is a positive change from Byline Bancorp’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, February 4th. This represents a $0.40 annualized dividend and a yield of 1.70%. Byline Bancorp’s payout ratio is 14.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stephens lifted their price objective 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. Hovde Group boosted their price target on shares of Byline Bancorp from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th.

Insider Buying and Selling at Byline Bancorp

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the firm’s stock in a transaction dated 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. This trade represents a 9.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 30.06% of the stock is owned by corporate insiders.

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.