Wells Fargo & Company MN Sells 756 Shares of Byline Bancorp, Inc. (NYSE:BY)

Wells Fargo & Company MN cut its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,278 shares of the company’s stock after selling 756 shares during the period. Wells Fargo & Company MN’s holdings in Byline Bancorp were worth $530,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BY. Trexquant Investment LP acquired a new stake in Byline Bancorp during the 4th quarter valued at $1,237,000. Wellington Management Group LLP grew its holdings in shares of Byline Bancorp by 16.6% during the fourth quarter. Wellington Management Group LLP now owns 478,359 shares of the company’s stock worth $13,872,000 after purchasing an additional 68,000 shares during the last quarter. Princeton Capital Management LLC increased its stake in shares of Byline Bancorp by 12.0% in the fourth 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. KLP Kapitalforvaltning AS bought a new position in shares of Byline Bancorp in the fourth quarter valued at about $148,000. Finally, Sei Investments Co. lifted its position in Byline Bancorp by 4.3% during the 4th quarter. Sei Investments Co. now owns 177,381 shares of the company’s stock worth $5,144,000 after buying an additional 7,371 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Byline Bancorp

In related 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 transaction of $192,149.88. Following the transaction, the insider now directly owns 62,282 shares of the company’s stock, valued at approximately $1,797,458.52. This trade represents a 9.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 30.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BY. Stephens raised their price target on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Hovde Group lifted 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.

Byline Bancorp Trading Up 2.7 %

NYSE BY 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 $28.14. Byline Bancorp, Inc. has a 1 year low of $21.96 and a 1 year high of $32.89. The firm has a market capitalization of $1.22 billion, a P/E ratio of 9.58 and a beta of 0.85.

Byline Bancorp (NYSE:BY) last posted its earnings results on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Byline Bancorp had a net margin of 19.33% and a return on equity of 11.61%. The company had revenue of $103.08 million during the quarter, compared to analysts’ expectations of $100.82 million. On average, research analysts anticipate that Byline Bancorp, Inc. will post 2.6 EPS for the current fiscal 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 given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, May 6th. Byline Bancorp’s payout ratio is 14.81%.

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.