Alliancebernstein L.P. Lowers Position in Byline Bancorp, Inc. (NYSE:BY)

Alliancebernstein L.P. lowered its holdings in shares of Byline Bancorp, Inc. (NYSE:BY) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,436 shares of the company’s stock after selling 981 shares during the period. Alliancebernstein L.P. owned approximately 0.17% of Byline Bancorp worth $2,246,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Parkside Financial Bank & Trust purchased a new position in shares of Byline Bancorp in the fourth quarter worth $63,000. KLP Kapitalforvaltning AS bought a new position in shares of Byline Bancorp in the fourth quarter worth approximately $148,000. Oceanside Advisors LLC purchased a new stake in shares of Byline Bancorp in the fourth quarter worth $206,000. HighTower Advisors LLC bought a new stake in shares of Byline Bancorp during the 3rd quarter valued at $221,000. Finally, Princeton Capital Management LLC lifted its stake in shares of Byline Bancorp by 12.0% during the 4th quarter. Princeton Capital Management LLC now owns 11,200 shares of the company’s stock valued at $325,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other Byline Bancorp news, insider Thomas Abraham sold 6,658 shares of the company’s stock in a transaction that occurred 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 approximately $1,797,458.52. This represents a 9.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 30.06% of the stock is currently owned by company insiders.

Byline Bancorp Stock Up 0.5 %

Shares of Byline Bancorp stock opened at $23.96 on Thursday. The stock’s fifty day moving average is $26.81 and its two-hundred day moving average is $28.18. Byline Bancorp, Inc. has a 52 week low of $19.82 and a 52 week high of $32.89. The company has a market capitalization of $1.07 billion, a PE ratio of 8.68 and a beta of 0.90.

Byline Bancorp (NYSE:BY) last issued its earnings results on Thursday, January 23rd. The company reported $0.69 EPS for the quarter, topping 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%. As a group, research analysts anticipate that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.67%. This is a positive change 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 presently 14.49%.

Analysts Set New Price Targets

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

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.