Northern Trust Corp Acquires 18,236 Shares of Byline Bancorp, Inc. (NYSE:BY)

Northern Trust Corp boosted its position in shares of Byline Bancorp, Inc. (NYSE:BY) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,390 shares of the company’s stock after acquiring an additional 18,236 shares during the period. Northern Trust Corp owned 0.62% of Byline Bancorp worth $7,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Byline Bancorp by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,359 shares of the company’s stock valued at $359,000 after acquiring an additional 2,064 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Byline Bancorp by 88.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the company’s stock valued at $60,000 after acquiring an additional 963 shares during the last quarter. MetLife Investment Management LLC lifted its position in Byline Bancorp by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 19,049 shares of the company’s stock valued at $552,000 after acquiring an additional 1,038 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Byline Bancorp by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,129,208 shares of the company’s stock valued at $61,747,000 after acquiring an additional 94,849 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in Byline Bancorp during the fourth quarter valued at approximately $3,609,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Byline Bancorp Trading Down 0.4%

NYSE BY opened at $27.08 on Monday. The company has a fifty day simple moving average of $25.62 and a two-hundred day simple moving average of $28.13. The stock has a market cap of $1.25 billion, a P/E ratio of 9.81 and a beta of 0.85. Byline Bancorp, Inc. has a 12-month low of $21.96 and a 12-month high of $32.89.

Byline Bancorp (NYSE:BY) last posted its quarterly 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. The business had revenue of $103.08 million during the quarter, compared to analysts’ expectations of $100.82 million. Byline Bancorp had a net margin of 19.33% and a return on equity of 11.61%. As a group, sell-side analysts forecast that Byline Bancorp, Inc. will post 2.6 earnings per share for the current year.

Byline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Tuesday, May 6th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.48%. Byline Bancorp’s dividend payout ratio is currently 14.81%.

Insiders Place Their Bets

In related news, insider Thomas Abraham sold 6,658 shares of the firm’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 completion of the transaction, the insider now owns 62,282 shares of the company’s stock, 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 30.06% of the company’s stock.

Analysts Set New Price Targets

BY has been the subject of a number of analyst reports. Stephens increased their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Hovde Group increased their target price on shares of Byline Bancorp from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, January 27th.

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.